2025年10月10日上午，上海挚达科技发展股份有限公司（"挚达科技"，股份代号：02650.HK）在香港联合交易所主板正式挂牌上市，此次上市标志着挚 达科技在"全球化、数字化、智能化"的2.0战略引领下，迈入国际资本市场的新阶段。 同济大学党委副书记曹静出席挚达科技上市祝捷活动，参观了挚达十五年创业历程展。在现场，挚达科技全新一代自动充电机器人"灵蛇"亮相，同时，挚 达科技的交流桩"开拓者"、移动充电机器人等明星产品悉数亮相。 她表示，这不仅是挚达科技十五年砥砺奋斗的高光时刻，更是同济人结出的又一颗璀璨硕果。挚达科技的成功，是同济创新生态的又一次生动印证。 ▲同济大学党委副书记曹静与上海挚达科技发展股份有限公司创始人兼董事长黄志明合影 校友企业介绍 自2010年成立以来，挚达科技以"产品+服务+数字化平台"的三位一体商业模式持续引领行业创新。根据弗若斯特沙利文报告，挚达科技在往绩记录期间, 按销量计位居全球家用电动汽车充电桩第一，累计出货量超130万台，市场份额全球约9.0%、中国约13.6%。 在智能化布局上，公司自主研发的"灵蛇 SmartLink 自动充电机器人"已在香港国际机场实现规模化运营，为全球 ...

Core Points - Zhidatech (2650.HK) debuted on the Hong Kong Stock Exchange today, closing up 192.14% at HKD 195.5 [1] - The IPO was priced at HKD 66.92, with a public offering oversubscription rate of 5440.80 times, making it the most oversubscribed new energy stock in Hong Kong this year [1] - The company was established in November 2010 and transitioned to a joint-stock company in September 2022, focusing on smart home electric vehicle charging solutions [1] Company Overview - Zhidatech is the largest provider of home electric vehicle charging solutions globally, with a market share of approximately 9.0% and 13.6% in China [1] - By sales revenue, the company ranks fourth globally with a market share of about 5.7%, and it holds the top position in China with a market share of 10.3% [1] Stock Performance - The stock reached a high of HKD 197.00 and a low of HKD 171.20 on its first trading day, with a trading volume of 1.5585 million shares [2] - The total market capitalization of Zhidatech is approximately HKD 11.689 billion [2] - The stock experienced a price fluctuation of 38.55% on its debut [2]

Core Viewpoint - Zhidatech (02650.HK) successfully listed on the Hong Kong Stock Exchange, achieving over 5000 times subscription in its public offering, raising over HKD 250 billion, making it the most oversubscribed new energy stock in Hong Kong this year [2] Group 1: Market Position and Performance - Zhidatech ranks first in China in terms of sales and revenue of home electric vehicle charging piles, with a market share of 13.6% in China and 9.0% globally during the historical record period [2][3] - The company has shipped a total of 1.3 million home electric vehicle charging piles globally, with 1.2 million units shipped in China [3][4] - The global and Chinese market sales for home electric vehicle charging piles are projected to reach RMB 7.2 billion and RMB 3.5 billion respectively in 2024 [10] Group 2: Product and Service Offerings - Zhidatech provides a "three-in-one" home charging solution consisting of products, services, and a digital platform, focusing on smart home electric vehicle charging piles [3][4] - The company has developed advanced products with high gross margins, including electric vehicle charging robots and EMS solutions [3] Group 3: Expansion and Infrastructure - Zhidatech has established the largest electric vehicle charging pile service network in China, covering over 360 cities and completing 1.3 million installation and after-sales service tasks [4] - The company has a manufacturing facility in Anhui, China, and is expanding with a new factory in Thailand, which began operations in April 2024, to support Southeast Asia's market demand [7] Group 4: Financial Performance - Zhidatech recorded revenues of RMB 697 million, RMB 671 million, and RMB 593 million for the years 2022, 2023, and 2024 respectively, with corresponding gross profits of RMB 142 million, RMB 138 million, and RMB 88.6 million [11] - The company incurred annual losses of RMB 25.1 million, RMB 58.1 million, and RMB 236 million during the same periods [11] Group 5: Use of IPO Proceeds - Approximately 38.0% of the net proceeds from the IPO will be used for overseas expansion, 36.5% for R&D to enhance product offerings and digital capabilities, and 10.0% for acquisitions to improve comprehensive energy management solutions [12]

今日（10月10日），港股市场持续调整。 截至发稿，金叶国际集团报3.14港元，上涨528%。 | 金叶国际集团 (08549) CAS | | | | | --- | --- | --- | --- | | 3,140 12,640 | +528.00% | | + @ | | 行情报价 | | | | | 成交量 | 2103万股 最高 | 3.320 今开 | 3.000 | | 成交额 | 7141万 | 最低 3.000 PEK | 0.500 | | 买量 | 10000H | 振幅 64.00% 换手 | 5.26% | | 車号 | 25000股 | 均价 3.396 | | | 每股收益TTM 0.035 | | 市盈率TM 89.23 每股净资产 0.569 | | | 总股本 | 4.00亿 | 总市值 12.6亿港元 市净率 | 5.523 | | 港股股本 | 4.00亿 | 港股市值12.6亿港元 | | 此外，今日另一只上市的新股挚达科技（02650.HK）开盘后上涨168%，报180港元。挚达科技以智慧家用电动汽车充电桩为切入点，构建了由产品、服务 及数字化平台构成的"三位一体 ...

Core Viewpoint - The recent trend in Hong Kong IPOs shows a significant increase in first-day stock price gains, with notable performances from companies like Golden Leaf International Group and ZhiDa Technology during their pre-listing dark trading phase [1][4]. Group 1: Golden Leaf International Group - Golden Leaf International Group is set to list on the GEM (Growth Enterprise Market) in Hong Kong, with a pre-listing dark trading surge of up to 880%, ultimately closing at a 472% increase [1][6]. - The company, established in 2006, specializes in electromechanical engineering, handling over 1,000 projects in the 2023/24 and 2024/25 fiscal years, with most projects generating less than 500,000 HKD in revenue [6]. - Revenue is projected to rise from approximately 123 million HKD in 2023/24 to about 155 million HKD in 2024/25, marking a 25.6% increase, while net profit is expected to grow from around 10.4 million HKD to 14.1 million HKD, a 35.6% increase [6][7]. Group 2: ZhiDa Technology - ZhiDa Technology ranks first in China for home electric vehicle charging pile sales, holding a 13.6% market share domestically and 9.0% globally, with sales figures of 6.97 billion RMB in 2022, 6.71 billion RMB in 2023, and a decline to 5.93 billion RMB in 2024 [8][9]. - The company has faced continuous losses since its inception in 2010, with net losses of 0.25 billion RMB in 2022, 0.58 billion RMB in 2023, and 2.36 billion RMB in 2024, indicating a worsening financial situation [9][10]. - ZhiDa Technology's gross margin has decreased significantly from 20.5% in 2023 to 14.9% in 2024 due to intense price competition, with the company adopting a strategy of lowering prices to maintain market share [10][11].

Core Viewpoint - The recent trend in Hong Kong IPOs shows a significant increase in first-day stock price gains, with notable performances from companies like Golden Leaf International Group and ZhiDa Technology during their pre-listing dark market phases [1][4]. Group 1: Golden Leaf International Group - Golden Leaf International Group is set to list on the GEM (Growth Enterprise Market) of the Hong Kong Stock Exchange, which caters to small and medium-sized enterprises, indicating a higher investment risk [6]. - The company has a history dating back to 2006 and specializes in electromechanical engineering, handling over 1,000 projects in the 2023/24 and 2024/25 fiscal years, with most projects contributing less than 500,000 HKD in revenue [6]. - Revenue is projected to increase from approximately 123 million HKD in 2023/24 to about 155 million HKD in 2024/25, marking a growth of 25.6% [7]. - The annual profit is expected to rise from around 10.4 million HKD in 2023/24 to approximately 14.1 million HKD in 2024/25, reflecting a 35.6% increase [7]. - The IPO is considered a "pocket-sized IPO," with listing expenses estimated at 16.7 million HKD, accounting for about 30.4% of the expected proceeds from the share sale [7]. Group 2: ZhiDa Technology - ZhiDa Technology ranks first in China for household electric vehicle charging pile sales, holding a 13.6% market share domestically and 9.0% globally [9]. - Despite its market position, ZhiDa Technology has faced declining revenues, with figures dropping from 697 million RMB in 2022 to 593 million RMB in 2024 [10]. - The company has been operating at a loss since its inception in 2010, with net losses increasing from 25 million RMB in 2022 to 236 million RMB in 2024 [11]. - The gross margin has significantly decreased from 20.5% in 2023 to 14.9% in 2024, primarily due to intense price competition [11]. - ZhiDa Technology is exploring a path to profitability through dynamic revenue models and strict cost management, aiming to maintain market share while improving gross margins in the future [13].

Core Viewpoint - The recent trend in Hong Kong IPOs shows a significant increase in first-day stock price gains, with notable examples including Jinye International Group and Zhida Technology, which experienced substantial price surges in the dark market prior to their official listings [1][4]. Jinye International Group - Jinye International Group's dark market surge reached a peak of 880%, settling at 472% by the end of the dark market session [1]. - The company is a well-established electromechanical engineering contractor with a history dating back to 2006, focusing on supply, installation, maintenance, and repair of various systems [7]. - For the fiscal years 2023/24 and 2024/25, Jinye International Group is projected to undertake over 1,000 projects annually, with most projects contributing less than 500,000 HKD each, leading to higher gross margins due to lower subcontracting costs [7]. - Revenue is expected to increase from approximately 123 million HKD in 2023/24 to about 155 million HKD in 2024/25, marking a growth of 25.6% [8]. - The company's net profit is projected to rise from around 10.4 million HKD in 2023/24 to approximately 14.1 million HKD in 2024/25, reflecting a 35.6% increase [8]. - Jinye International Group's IPO expenses are estimated at 16.7 million HKD, accounting for about 30.4% of the total funds raised, indicating a financial burden due to its small size [8]. Zhida Technology - Zhida Technology ranks first in China for home electric vehicle charging pile sales, holding a market share of 13.6% in terms of volume and 6.6% in sales revenue [9][10]. - The company has faced declining revenues, with figures dropping from 697 million RMB in 2022 to 593 million RMB in 2024, indicating a downward trend [10][11]. - Zhida Technology has been operating at a loss since its inception in 2010, with net losses increasing from 25 million RMB in 2022 to 236 million RMB in 2024 [11][12]. - The company attributes its losses to intense market competition, leading to strategic price reductions to maintain market share, which has negatively impacted revenue [12]. - Gross margins have significantly decreased from 20.5% in 2023 to 14.9% in 2024, primarily due to pricing pressures [12][13]. - Zhida Technology is exploring profitability through dynamic revenue models and strict cost management, aiming to enhance gross margins once market conditions stabilize [14].

Core Viewpoint - The company is a leading provider of home electric vehicle charging solutions in China, holding significant market shares both domestically and globally, with a focus on expanding its product offerings and manufacturing capabilities. Group 1: Market Position and Performance - The company ranks first in China for home electric vehicle charging pile sales, with a market share of 13.6% based on sales volume, and a global market share of 9.0% [5][8] - In terms of sales revenue, the company ranks third in China with a market share of approximately 6.6% [5] - The projected market share for the company in global home electric vehicle charging pile sales for 2024 is about 3.9% [5] Group 2: Product and Service Offerings - The company provides smart home electric vehicle charging piles, accessories, and services to seven out of the top ten automotive manufacturers in China [14] - A wide range of products is available for retail customers, including various series of smart home electric vehicle charging products [25] Group 3: Manufacturing and Technological Capabilities - The company is one of the earliest to obtain the IATF16949 certification for electric vehicle charging piles, ensuring compliance with automotive industry standards [30] - Advanced manufacturing capabilities include surface mount technology (SMT) and dual in-line package (DIP) production lines, enhancing the production capacity of core components [36] Group 4: Financial and Growth Projections - The compound annual growth rate (CAGR) for global electric vehicle sales from 2020 to 2024 is projected at 17.5% for passenger electric vehicles and 54.9% for commercial electric vehicles [15] - The CAGR for China's passenger electric vehicle revenue from 2020 to 2024 is expected to be 76.1% [20]

格隆汇9月30日丨挚达科技(02650.HK)发布公告，公司拟全球发售597.89万股H股(视乎超额配股权行使 与否而定)，中国香港发售股份59.79万股，国际发售股份538.1万股；2025年9月30日至10月6日招股，预 期定价日为10月8日；发售价将为每股发售股份66.92-83.63港元，每手买卖单位为50股，申万宏源香港 为独家保荐人；预期股份将于2025年10月10日开始在联交所买卖。 假设超额配股权未获行使及根据指示性发售价每股发售股份75.27港元(即发售价的中位数)，集团预计将 收取所得款项净额3.75亿港元。根据相同的指示性发售价，倘超额配股权获悉数行使，集团将收取额外 的所得款项净额6550万港元。其中，约38.0%的所得款项净额预计将在未来五年用于集团的海外扩张； 约36.5%的所得款项净额预计将在未来五年用于研发以丰富集团产品及服务组合，以及增强集团的数字 化平台及研发能力；约10.0%的所得款项净额预计将用于并购活动，以提升集团提供综合能源管理解决 方案的能力；约5.5%的所得款项净额预计将用于升级宣城工厂的现有生产设施及设备，以容纳为新车 型而设计的产品，包括符合中国、欧洲及美国 ...

挚达科技(02650)于2025年9月30日-10月6日招股，拟全球发售597.89万股H股，香港公开发售占约10%， 国际发售占约90%，另有约15%超额配股权。发售价将为每股发售股份66.92-83.63港元，每手50股，预 期H股将于2025年10月10日上午九时正开始在联交所买卖。 据悉，该公司以向汽车制造商及用户提供智慧家用电动汽车充电桩为切入点，开发了由产品、服务及强 大数字化平台构成的"三位一体"电动汽车家庭充电解决方案。 该公司是中国备受领先汽车制造商信赖的合作伙伴。根据弗若斯特沙利文的资料，该公司于往绩记录期 间向按2024年电动汽车销量计中国十大汽车制造商中的七家汽车制造商提供智慧家用电动汽车充电桩及 配件及╱或服务。通过与知名汽车制造商的合作，该公司建立了品牌声誉，成为具备竞争优势的电动汽 车家庭充电解决方案提供商，同时与该等主要汽车制造商一同进军海外市场。如今，该公司的产品及服 务已覆盖22个国家。根据弗若斯特沙利文的资料，在泰国和巴西这两个中国以外增长迅速的电动汽车市 场，该公司是率先建立地位且备受认可的智慧家用电动汽车充电桩和服务提供商之一。 凭借该公司与领先汽车制造商合作所积淀的 ...