Core Viewpoint - Jiangxi Aifenda HVAC Technology Co., Ltd. has received approval for its initial public offering (IPO) of up to 21.67 million shares on the ChiNext board, with a set price of RMB 27.69 per share [1][2]. Summary by Sections IPO Details - The IPO will consist of a maximum of 21.67 million ordinary shares and has been approved by the Shenzhen Stock Exchange and the China Securities Regulatory Commission [1]. - The offering will utilize a combination of strategic placement, offline inquiry, and online issuance methods [1]. Issuance Structure - The initial strategic placement is set at 4.334 million shares, accounting for 20% of the total issuance [3]. - The final strategic placement amounts to approximately 4.261 million shares, which is 19.67% of the total issuance, with a slight adjustment from the initial number [3]. - The offline issuance will account for 29.87% of the total shares after the strategic placement adjustment [3]. Subscription and Allocation - As of the subscription period, there were 12,841,532 valid applications for the online issuance, totaling 57,073,257,500 shares, indicating a high demand [7]. - The initial subscription multiple for online investors was 10,974.57 times, leading to the activation of the allocation mechanism to shift shares from offline to online [8]. Lock-up Periods - For offline investors, 90% of the allocated shares will have no lock-up period, while 10% will be subject to a 6-month lock-up [6]. - Strategic placement shares for senior management and core employees will have a 12-month lock-up period [6]. Lottery and Results Announcement - The lottery for share allocation is scheduled for September 2, 2025, with results to be announced on September 3, 2025 [8].