Core Viewpoint - Xidi Zhijia Technology Co., Ltd. (stock code: 03881.HK) was listed on the Hong Kong Stock Exchange, opening at HKD 263.00 and closing at HKD 227.00, reflecting a decline of 13.69% on its first trading day [1]. Summary by Relevant Sections Share Issuance and Capital Structure - The total number of shares issued by Xidi Zhijia was 5,407,980, with 540,800 shares allocated for public offering in Hong Kong and 4,867,180 shares for international offering [2]. - The number of shares issued at listing (before the exercise of the over-allotment option) was 43,789,310 [2]. Pricing and Fundraising - The final offering price was set at HKD 263.00, resulting in total proceeds of HKD 1,422.30 million. After deducting estimated listing expenses of HKD 113.27 million, the net proceeds amounted to HKD 1,309.03 million [5][6]. - The raised funds will be allocated over the next five years for research and development, enhancing commercialization capabilities, strengthening collaborations with domestic and global clients, expanding international presence, and potential investments and acquisitions to integrate upstream and downstream resources [6]. Investor Allocation - Key cornerstone investors include Hunan Xiangjiang Zhicheng Industrial Investment Fund Partnership, Nanning Zhijia No. 1 Ruiyue Equity Investment Partnership, and ICBC Credit Suisse Asset Management [6][7]. - The allocation of shares to cornerstone investors accounted for 38.39% of the total shares offered, with Hunan Xiangjiang receiving 29.93% [7]. Financial Performance - Revenue projections for Xidi Zhijia from 2022 to 2025 are as follows: RMB 31.06 million in 2022, RMB 133 million in 2023, RMB 410 million in 2024, and RMB 408 million in the first half of 2025. The company is expected to incur losses of RMB 262.99 million, RMB 255.08 million, RMB 580.84 million, and RMB 455.09 million during the same periods [8][9]. - The operating cash flow used in business activities for the same years is projected to be RMB 203.05 million, RMB 196.76 million, RMB 147.74 million, and RMB 208.21 million [9].
希迪智驾港股募14亿港元首日破发 工银瑞信浮亏13%