沃尔核材拟全球发售H股1.4亿股 基石投资者认购超9亿港元

Core Viewpoint - Walden Materials is launching an H-share offering to raise funds for business expansion and product development, capitalizing on the growing demand in the data communication and power transmission sectors [1][3]. Group 1: H-share Offering Details - Walden Materials plans to issue 140 million H-shares, with 13.999 million shares allocated for public sale in Hong Kong, representing 10% of the total offering [1]. - The maximum price for the H-shares is set at HKD 20.09 per share, aiming for a net fundraising amount of up to HKD 2.734 billion [1]. - The shares are expected to be listed on the Hong Kong Stock Exchange on February 13, 2026 [1]. Group 2: Financial Performance and Projections - The company forecasts a net profit of between CNY 1.1 billion and CNY 1.18 billion for 2025, reflecting a year-on-year growth of 29.79% to 39.22% [2]. - Revenue is projected to grow from CNY 4.095 billion in 2020 to CNY 6.927 billion in 2024, with net profit increasing from CNY 396 million to CNY 848 million during the same period [1]. Group 3: Market Position and Clientele - Walden Materials ranks fifth among global communication cable manufacturers, holding a 12.7% market share based on projected 2024 revenues [1]. - Key clients include international companies such as Amphenol, Molex, TE Connectivity, and domestic firms like Luxshare Precision and Qinghong Electronics, which supply major server manufacturers like NVIDIA, Google, Amazon, and Meta [2]. Group 4: Use of Proceeds from H-share Offering - The proceeds from the H-share issuance will be allocated as follows: 45% for product development and upgrades, 27% for global business expansion, 18% for potential strategic investments or acquisitions, and 10% for working capital and general corporate purposes [4]. - Approximately HKD 557 million will be invested in establishing a new smart manufacturing base for communication cables and electronic materials in Johor, Malaysia [4].