转自：推广 港股新股市场，出现火爆认购。 2026年1月27日，青岛国恩科技股份有限公司（以下简称"国恩股份"）正式启动H股招股。根据招股信息，国恩股份本次全球发售H股发行股数为3000万股， 其中，香港公开发售股约占全球发售总数10%，国际发售约占90%。H股发行的价格区间初步确定为34港元至42港元。 根据1月27日港股收盘后的数据显示，国恩股份启动H股发售首日，投资者热情高涨，截至发稿，公开发售部分已突破33亿港元，超额认购倍数近30倍（老 虎证券）。 招股书显示，国恩科技招股期为2026年1月27日至1月30日，将于2月4日上市，每手200股，入场费为8484.71港元。此举完成后，国恩股份将实现"A+H"两地 上市。 这家总部位于青岛的化工新材料领军企业，在A股上市10周年之际，又迈出"A+H"双平台上市的关键一步。其引人瞩目的基石投资者阵容和清晰的募资用 途，向市场传递了强烈的上行信号。 此次H股发行，国恩股份基石投资者阵容强大，其中包括利冠投资有限公司（以下简称"利冠"）、SLD International Enterprises Limited（以下简称"SLD"）、 丞安国际有限公司（以下简 ...

公司已订立基石投资协议，据此，基石投资者已同意遵照若干条件，按发售价认购或促使其指定实体认 购可购入的有关数目的发售股份，总金额为约3.2亿港元。假设发售价为42.00港元(即本招股章程所述最 高发售价)，基石投资者将认购的发售股份总数将为760.2万股发售股份。基石投资者包括利冠投资有限 公司("利冠")、SLD International Enterprises Limited("SLD International")、丞安国际有限公司("丞安国 际")、申万宏源证券（000562）、First Seafront Fund Series SPC、新嘉财富证券有限公司("新嘉财富")、 Luminous Horizon Limited("Luminous Horizon")、富国香港(为富国基金的全资附属公司)。 公司将收取的所得款项净额将约为10.58亿港元，假设发售价为每股H股38.00港元(即指示性发售价范围 的中位数)。约50.0%将分配至扩大公司位于泰国的新生产基地的产能。约35.0%将分配至扩大公司位于 中国的新生产基地产能。约10.0%将分配至公司在香港的投资，包括设立地区总部及生产基地升级。 ...

在大健康行业领域，公司聚焦天然胶原产业，向下纵向延伸产业链。公司的主要子公司东宝生物拥有几 十年的悠久历史，依托从胶原到"胶原+"纵向一体化发展战略，已成功建立起覆盖胶原蛋白肽类╱衍生 原料到终端产品的产品布局，正逐步发展成为大健康产业细分领域综合性集团，形成规模效益。根据弗 若斯特沙利文的资料，按2024年中国骨明胶行业产量计，公司是中国市场产量位居第二、中国内资品牌 产量位居第一的骨明胶生产企业;按2024年中国空心胶囊行业相关产量计，公司是中国内资品牌产量第 二大的空心胶囊生产企业。 公司已订立基石投资协议，据此，基石投资者已同意遵照若干条件，按发售价认购或促使其指定实体认 购可购入的有关数目的发售股份，总金额为约3.2亿港元。假设发售价为42.00港元(即本招股章程所述最 高发售价)，基石投资者将认购的发售股份总数将为760.2万股发售股份。基石投资者包括利冠投资有限 公司("利冠")、SLD International Enterprises Limited("SLD International")、丞安国际有限公司("丞安国 际")、申万宏源证券、First Seafront Fund Serie ...

Company Overview - Guoen Co., Ltd. (002768) is undergoing a listing hearing on the Hong Kong Stock Exchange, sponsored exclusively by China Merchants Securities International. The company operates in two main segments: Advanced Chemicals (Chemical New Materials) and Health Products (Gelatin, Collagen, and related upstream and downstream products) [1] Advanced Chemicals Segment - The Advanced Chemicals segment focuses on the chemical new materials industry, offering products such as green petrochemical materials (e.g., aromatic olefins, styrene, polystyrene) and organic polymer modified materials and composites. These products serve downstream industries including automotive, new energy, and home appliances [1] - According to Frost & Sullivan, Guoen Co., Ltd. is the second largest company in China for organic polymer modified materials and organic polymer composites by sales revenue in 2024, holding a market share of 2.5%. It is also the largest producer of polystyrene in China by production capacity in 2024 [1] Health Products Segment - The Health Products segment focuses on the natural collagen industry, developing collagen peptide derivatives and end products through its subsidiary Dongbao Biological (300239). The primary customers are medical and pharmaceutical manufacturers [1] - Based on Frost & Sullivan's data, Guoen Co., Ltd. ranks as the second largest producer of bone gelatin in China by production volume in 2024, and it is the largest domestic brand in this category. Additionally, it is the second largest domestic brand in the hollow capsule production sector in China, according to 2024 production volume estimates [1] Market Outlook - The market for organic polymer modified materials and organic polymer composites in China is projected to grow from RMB 544.8 billion in 2024 to RMB 1,037.5 billion by 2029, reflecting a compound annual growth rate (CAGR) of 14.1% [2]

Core Viewpoint - On May 26, 2025, Guoen Technology Co., Ltd. announced plans to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international capital operations and accelerate the establishment of a dual circulation pattern in the domestic and international markets [1][5]. Group 1: H-Share Issuance and Listing - The company plans to issue H-shares not exceeding 15% of the total share capital post-issuance, with proceeds allocated for establishing a Hong Kong regional headquarters, R&D investments, capacity expansion, strategic investments, and operational funding [1][5]. - The issuance and listing are subject to shareholder approval and regulatory approvals [1]. Group 2: Management Changes - On the same day, the company announced the resignation of two board members, Zhang Shide and Liu Shuyuan, due to personal reasons, with no impact on the board's legal quorum [1][2]. Group 3: Company Overview and Financial Performance - Founded in December 2000 and listed in June 2015, Guoen Group has developed a diversified portfolio in green petrochemicals, organic polymers, and health-related products, among others [4]. - In 2024, the company reported revenue of 19.219 billion yuan, a 10.21% increase from the previous year, and a net profit of 676 million yuan, up 45.18% year-on-year [4]. - The chemical industry segment generated 17.369 billion yuan, accounting for 90.38% of total revenue, while the health industry segment saw a decline in revenue [4]. Group 4: Recent Financial Results - In Q1 2025, the company reported revenue of 4.412 billion yuan, a slight decrease of 0.23%, and a net profit of 111 million yuan, down 9.79% year-on-year [5]. - As of March 31, 2025, total assets were 18.971 billion yuan, a 23.71% increase year-on-year, while total liabilities rose by 34.64% to 11.866 billion yuan [5].

Group 1 - Company plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange to advance its global strategy and enhance its international capital operation platform [1] - The company aims to consider the interests of existing shareholders and the conditions of domestic and international capital markets when determining the timing and window for the issuance [1] - As of now, the company has developed a vertically integrated industrial cluster in new chemical materials, including green petrochemicals and biodegradable materials [1] Group 2 - In the large chemical industry, the company focuses on creating three main business engines: green petrochemical materials, organic polymer modified materials, and organic polymer composite materials [2] - The subsidiary, Dongbao Biological, specializes in the research, production, and sales of gelatin and collagen products, providing comprehensive solutions for downstream users [2] - The company operates both B2B and B2C business models, with B2B products including gelatin and collagen used in various sectors such as healthcare and beauty [2] Group 3 - In 2024, the company will focus on its main business, leveraging its vertical integration in the large chemical and health industries to drive growth [3] - The company expects to achieve a revenue of 19.22 billion yuan, a year-on-year increase of 10.21%, and a net profit of 676 million yuan, a year-on-year increase of 45.18% [3]