Core Viewpoint - Wuxi XianDao Intelligent Equipment Co., Ltd. successfully listed on the Hong Kong Stock Exchange, marking a new chapter in its "A+H" dual capital platform strategy, becoming the first listed company in Wuxi in 2026 and the third "A+H" listed company in the city [1] Company Overview - Founded in 2002 and listed on the A-share market in 2015, XianDao Intelligent has accelerated its global expansion and diversified its business, evolving from a single equipment R&D company to a leading global provider of intelligent manufacturing solutions in various fields including lithium batteries, photovoltaics, 3C, automotive, smart logistics, hydrogen energy, and smart factories [1] - The company maintains a stable R&D investment ratio of over 10% of its revenue, with a professional R&D team of nearly 5,000 members and over 3,336 authorized patents, holding 100% independent patents for its core equipment, making it one of the few lithium equipment suppliers with complete independent intellectual property rights in the industry [1] Industry Context - Wuxi High-tech Zone has seized opportunities in the capital market, focusing on the deep integration of technological and industrial innovation, having cultivated eight companies listed on the Hong Kong Stock Exchange and developed a reserve of quality companies, forming a healthy development pipeline for future listings [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：0470） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而做出。 茲載列無錫先導智能裝備股份有限公司於深圳證券交易所網站( www.szse.cn )刊登 的公告如下，僅供參閱。 承董事會命 無錫先導智能裝備股份有限公司 董事長、執行董事兼首席執行官 WUXI LEAD INTELLIGENT EQUIPMENT CO., LTD. 無錫先導智能裝備股份有限公司 王燕清先生 中國無錫 2026年2月11日 於本公告日期，董事會包括：(i)執行董事王燕清先生、王建新先生、尤志良先生 及王磊先生；及(ii)獨立非執行董事張明燕女士、戴建軍先生及黃斯穎女士。 证券代码：300450 证券简称：先导智能 公告编号：2026-012 无锡先导智能装备股份有限公司 关于控股股东、实际控制人及其一致行动人持股比例 被动稀释触及 1% ...

先导智能公告称，公司本次全球发售H股总数为1.08亿股（行使超额配售权之前），香港公开发售936万 股，国际发售9829.68万股。每股H股发售价45.80港元，全球发售所得款项净额估计约为47.96亿港元。 公司H股股票中文简称为"先导智能"，英文简称为"WUXI LEAD"，股份代号为"00470"。 ...

格隆汇2月11日丨先导智能(300450.SZ)公布，经香港联交所批准，公司本次发行的H股股票（行使超额 配售权之前）于2026年2月11日在香港联交所主板挂牌并上市交易。公司H股股票中文简称为"先导智 能"，英文简称为"WUXI LEAD"，股份代号为"00470"。 ...

证券代码：300450 证券简称：先导智能 公告编号：2026-012 无锡先导智能装备股份有限公司 关于控股股东、实际控制人及其一致行动人持股比例 被动稀释触及 1%整数倍的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或者重大遗漏。 特别提示： 本次权益变动系公司发行境外上市股份（H 股），导致总股本增加，公司 控股股东、实际控制人及其一致行动人持股比例被动稀释，不涉及股东股份减 持，不会导致公司控制权发生变更，不会对公司治理结构及持续经营产生影响。 无锡先导智能装备股份有限公司（以下简称"公司"）于 2026 年 2 月 11 日发行境外上市股份（H 股）并在香港联合交易所有限公司（以下简称"香港联 交所"）主板挂牌上市（以下简称"本次发行上市"）。本次发行上市完成后， 公司总股本由 1,566,163,034 股增加至 1,673,821,434 股（行使超额配售权之前）， 实际控制人王燕清及其控制的公司控股股东拉萨欣导创业投资有限公司、无锡煜 玺科技有限公司及上海卓遨企业管理合伙企业（有限合伙）持有公司股份数量不 变，持有股份比例被动稀释，由 32.33% ...

全额行使发行规模调整选择权后，公司本次全球发售H股总数为107,658,400 股（行使超额配售权之前），其中，香港公开发售 9,361,600 股，约占全球发售 总数的 8.70%（行使超额配售权之前）；国际发售 98,296,800 股，约占全球发售 总数的 91.30%（行使超额配售权之前）。根据每股 H 股发售价 45.80 港元计算， 经扣除全球发售相关承销佣金及其他估计费用后，并假设超额配售权未获行使， 公司将收取的全球发售所得款项净额估计约为 47.96 亿港元。 经香港联交所批准，公司本次发行的 107,658,400 股 H 股股票（行使超额配 售权之前）于 2026 年 2 月 11 日在香港联交所主板挂牌并上市交易。公司 H 股 股票中文简称为"先导智能"，英文简称为"WUXI LEAD"，股份代号为"00470"。 证券代码：300450 证券简称：先导智能 公告编号：2026-011 无锡先导智能装备股份有限公司 关于境外上市股份（H 股）挂牌并上市交易的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或者重大遗漏。 无锡先导智能装备股份有限 ...

Core Viewpoint - The successful listing of XianDao Intelligent Equipment Co., Ltd. on the Hong Kong Stock Exchange marks a significant milestone for Chinese manufacturing companies, particularly in the lithium battery equipment sector, with strong backing from major investors and a robust market position [2][6][23]. Financial Performance - XianDao's IPO raised approximately 4.166 billion HKD (around 3.749 billion RMB) by issuing 93.616 million H-shares [6]. - The company's total market capitalization reached 76.35 billion HKD (approximately 68.714 billion RMB) at midday trading, with shares priced at 46 HKD each, reflecting a slight increase of 0.44% from the issue price [4][6]. - Revenue increased from 138.36 billion RMB in 2022 to 164.83 billion RMB in 2023, while net profit decreased from 23.18 billion RMB to 17.71 billion RMB during the same period [7][10]. - In 2024, revenue is projected to decline to 117.73 billion RMB, with net profit dropping to 2.68 billion RMB, but a significant recovery is expected in 2025 with a projected revenue of 103.88 billion RMB and a net profit of 11.61 billion RMB, marking a 97.9% increase year-on-year [10][8]. Market Position - XianDao is recognized as the largest provider of lithium battery intelligent equipment globally, holding a market share of 15.5%, and the largest in China with a market share of 19.0% [6][14]. - The company has a diverse client base, including major players like CATL, Tesla, and LG Energy, with the top five clients contributing approximately 40%-50% of its revenue [16][14]. Strategic Initiatives - To reduce reliance on the lithium battery sector, XianDao is expanding into non-lithium businesses such as photovoltaics, 3C electronics, hydrogen energy, and automotive production lines [17]. - The company plans to allocate 40% of the funds raised from the IPO to expand overseas R&D centers and sales networks, 30% for core technology development, and 20% for enhancing digital management capabilities [22]. Leadership and Vision - The company is led by Wang Yanqing, who has a background in engineering and has successfully navigated the company from its inception to becoming a key player in the lithium battery equipment market [18][20]. - XianDao's listing is seen as a step towards enhancing its global presence and credibility in the international market, aiming for a more transparent relationship with global investors [23].

如果把中国新能源产业看作一条不断加速的赛道，那么设备企业往往不是最被关注的角色，却往往是决 定产业速度的人。 2026年初，锂电装备龙头先导智能再次站上资本市场焦点。公司港股上市备案获批，距离2月11日完成 A+H大计只剩一步之遥。 与此同时，公司业绩从行业低谷快速修复，利润预计实现数倍增长。在锂电行业周期波动明显的阶段， 这种修复能力，反而更值得财务总监们深度研究。 一、真正的战略规划，始于行业爆发之前 先导智能并非从锂电起家，而是源于电容器设备制造。创始人王燕清长期深耕卷绕工艺，并在锂电产业 尚未爆发前，判断出两者制造逻辑的共通性，率先布局锂电装备业务。 这一转型本质上属于典型的前置型投入战略。 企业需要在尚未形成规模回报时持续投入研发与产能建设，短期利润承压几乎不可避免。但正是这种长 期投入，使公司在锂电产业放量时迅速建立产品体系，几乎没有经历试错成本。 对于拟上市企业而言，财务管理的价值并不仅是控制费用，而是通过合理配置资金与预算，为企业保留 战略转型的时间窗口。 二、融资质量，决定扩张上限 财务总监需要深入业务流程，推动成本控制与项目管理同步优化，使利润增长具备真实经营支撑。 四、二次上市，是为技术 ...

Core Viewpoint - The successful IPO of Wuxi Xian Dao Intelligent Equipment Co., Ltd. (Xian Dao Intelligent) on the Hong Kong Stock Exchange marks a significant milestone for Chinese manufacturing companies, particularly in the lithium battery equipment sector, as it aims to expand its global presence and attract international capital [2][30][55]. Financial Performance - Xian Dao Intelligent's IPO raised approximately HKD 41.66 billion (about RMB 37.49 billion) by issuing 93.616 million H-shares, with a market capitalization reaching HKD 763.5 billion (approximately RMB 687.14 billion) [6][34]. - The company's revenue increased from RMB 138.36 billion in 2022 to RMB 164.83 billion in 2023, while net profit decreased from RMB 23.18 billion to RMB 17.71 billion during the same period [7][37]. - In 2024, revenue fell to RMB 117.73 billion, with net profit dropping to RMB 2.68 billion. However, by the first three quarters of 2025, revenue rebounded to RMB 103.88 billion, reflecting a 14.9% year-on-year growth, and net profit surged by 97.9% to RMB 11.61 billion compared to the same period in 2024 [9][37]. Market Position - According to Frost & Sullivan, Xian Dao Intelligent is the largest provider of lithium battery intelligent equipment globally, holding a market share of 15.5%, and it is also the leading supplier in China with a market share of 19.0% [6][12]. - The company is positioned as the second-largest supplier of new energy intelligent equipment globally, with a market share of 2.9% [12][40]. Product and Technology - Xian Dao Intelligent covers the entire lithium battery production process, including upstream, midstream, and downstream operations, and has developed key equipment for solid-state batteries [13][42]. - The company has a robust R&D team of over 4,000 employees and has secured 3,336 authorized patents, demonstrating its commitment to innovation [40]. Client Base - The client portfolio includes major global battery manufacturers such as CATL, Tesla, Volkswagen, BMW, and others, with the top five clients contributing approximately 40%-50% of the company's revenue [15][43]. - CATL is not only the largest customer but also a strategic investor, holding over 7% of the company's shares prior to the IPO [15][44]. Future Growth Strategy - To reduce reliance on the lithium battery sector, Xian Dao Intelligent is diversifying its revenue streams by expanding into non-lithium businesses such as photovoltaics, 3C electronics, hydrogen energy, and automotive production lines [16][45]. - The funds raised from the IPO will be allocated to expanding overseas R&D centers, enhancing core technology development, and improving digital management capabilities [54].

值得注意的是，先导智能背后站着一对无锡传奇父子。作为创始人和实控人，王燕清现担任先导智能董事长兼CEO，其子王磊担任先导智能董事。此外， 王磊还是江苏微导纳米科技股份有限公司（简称"微导纳米"）法定代表人、董事长，该公司于2022年成功IPO，截至2月10日收盘，市值达362.52亿元。 这对来自无锡的父子，人手一个IPO，合计市值超过1200亿元。 文｜创客公社产研组 766亿港元！今天，无锡传奇父子成功赴港上市，已手握2个IPO。 2月11日，无锡先导智能装备股份有限公司（简称"先导智能"，股票代码"00470"）在港股上市，成功跻身"A+H"企业行列。此次上市发行价为45.8港元， 募资净额为48亿港元。截至2月11日10点，市值约766亿港元。 上市前夕，1月25日，先导智能发布2025年度业绩预告，预告显示，预计公司2025年实现净利润15亿元至18亿元之间，同比增长424.29%至529.15%。 据了解，2015年，先导智能成功登陆深交所创业板IPO，截至2月10日收盘，先导智能A股市值为901亿元。 1966年，王燕清出生在江苏省无锡市，父母以种植果树为生，家庭条件很一般。不过，王燕清却很争气 ...