埃斯顿(02715)于2月27日至3月4日招股，拟全球发售9678万股H股

Group 1 - The company, Estun, plans to launch an IPO from February 27 to March 4, 2026, offering 96.78 million H-shares at a price range of HKD 15.36 to HKD 17 per share, with 10% allocated for Hong Kong and 90% for international sales [1] - Estun is a leading player in the Chinese industrial robotics market, having achieved the highest domestic shipment volume of industrial robots among local companies, surpassing foreign brands in the first half of 2025 [1] - By revenue, Estun ranks sixth among all manufacturers globally and in China, with market shares of 1.7% and 2.0% respectively for 2024 [1] Group 2 - The company's revenue for the years 2022, 2023, 2024, and the first nine months of 2024 and 2025 were RMB 3.881 billion, RMB 4.652 billion, RMB 4.009 billion, RMB 3.370 billion, and RMB 3.804 billion respectively [2] - Estun has entered cornerstone investment agreements with several investors, including Harvest Oriental and Haitan Huayuan, totaling approximately USD 66.91 million, indicating strong confidence in the company's business prospects [2] Group 3 - Assuming no exercise of the over-allotment option and a share price of HKD 16.18, the net proceeds from the global offering are expected to be approximately HKD 1.486 billion [3] - The allocation of proceeds includes 25% for expanding global production capacity, 25% for strategic alliances and acquisitions, 20% for R&D to advance next-generation robotics, 10% for enhancing global service capabilities, 10% for repaying existing loans, and the remaining 10% for working capital and general corporate purposes [3]