11月25日，海伟股份(09609)已结束招股。截止认购结束，市场资讯显示，海伟股份获券商借出1897.94 亿港元孖展，以公开发售额4403万港元计，超购逾4309倍。 根据招股计划，电容器薄膜制造商海伟股份计划发行3083.1万股H股，一成于香港作公开发售，发售价 为每股14.28港元，集资4.4亿港元，每手200股，一手入场费2884.8港元。 据市场消息透露，海伟股份接获16.7万人认购，公开发售部分超购5,431倍，涉资2,415亿港元。公司预 期将于11月28日挂牌买卖，中金公司（601995）为其独家保荐人。 根据灼识咨询资料，以2024年电容器基膜销量计，海伟股份是中国第二大的电容器薄膜制造商，其电容 器薄膜产品主要包括电容器基膜及金属化膜，薄膜电容器的关键组成部分。薄膜电容器的终端应用场景 广泛，包括新能源汽车，新能源电力系统，工业设备及家用电器。按电容器基膜的收入计，于中国的市 场份额为10.9%。 收入来源上，海伟股份所有收入均来自中国销售。于2022年及2023年，公司的收入分别为人民币3.27亿 元及人民币3.3亿元。公司的收入由2023年的人民币3.3亿元增长28.0%至2024年 ...

智通财经APP获悉，11月25日，海伟股份(09609)已结束招股。截止认购结束，市场资讯显示，海伟股份 获券商借出1897.94亿港元孖展，以公开发售额4403万港元计，超购逾4309倍。 根据招股计划，电容器薄膜制造商海伟股份计划发行3083.1万股H股，一成于香港作公开发售，发售价 为每股14.28港元，集资4.4亿港元，每手200股，一手入场费2884.8港元。 据市场消息透露，海伟股份接获16.7万人认购，公开发售部分超购5,431倍，涉资2,415亿港元。公司预 期将于11月28日挂牌买卖，中金公司为其独家保荐人。 募集所得款项净额用途分配上，82%将用于进一步扩大产能。计划在中国南方建设生产电容器基膜的新 生产工厂；5%将用于提升研发能力；3%用于销售及营销活动；10%用于营运资金及其他一般企业用 途。 收入来源上，海伟股份所有收入均来自中国销售。于2022年及2023年，公司的收入分别为人民币3.27亿 元及人民币3.3亿元。公司的收入由2023年的人民币3.3亿元增长28.0%至2024年的人民币4.22亿元。 于2024年截至5月31日止五个月及2025年截至5月31日止五个月，公司的收入 ...

Group 1: Market Overview - The Hong Kong stock market experienced a rebound, with the Hang Seng Index rising by 1.97%, the Hang Seng China Enterprises Index increasing by 1.79%, and the Hang Seng Tech Index climbing by 2.78% [2] - Northbound capital saw a net inflow of HKD 8.571 billion, with Alibaba, Tencent, and Kuaishou being the most actively traded stocks [2] - The technology sector showed significant growth, driven by positive news from various tech companies, including Alibaba's AI assistant app surpassing 10 million downloads in its first week [3][4] Group 2: Company Analysis - Haiwei Co., Ltd. - Haiwei Co., Ltd. is a leader in China's capacitor film market, established in 2006, with a market share of 10.9% in capacitor base films as of 2024 [7] - Revenue projections for Haiwei are expected to reach RMB 330 million in 2024, with a net profit of RMB 86.42 million, despite a slight decline in early 2025 [7] - The company benefits from strong R&D capabilities, a diversified product portfolio, and an experienced management team [9] Group 3: Industry Outlook - The Chinese capacitor base film market is projected to grow at a CAGR of 19.7%, increasing from 46,000 tons in 2019 to 113,000 tons by 2024, and expected to reach 224,000 tons by 2029 [8] - The market for capacitor base films used in electric vehicles is anticipated to grow from 48,000 tons in 2025 to 87,000 tons by 2029, with a CAGR of 16.2% [8] - The market for capacitor base films in new energy power systems is expected to grow from 34,000 tons in 2025 to 80,000 tons by 2029, with a CAGR of 23.6% [8]

来源：洞察IPO 上交所 ShangHai 深交所 ShenZhen 11月18日-11月24日，上交所科创板有1家公司上市；深交所创业板有1家公司上市。 数据来源：公开信息；图表制作：洞察IPO 1.恒坤新材：致力于集成电路领域关键材料的研发与产业化应用，是中国境内少数具备 12 英寸集成电路晶圆制造关键材料研发和量产能力的创新企业之 一，主要从事光刻材料和前驱体材料等产品的研发、生产和销售。上市首日股价收涨310.61%，截至11月24日收报50.54元/股，较发行价14.99元/股涨 237.16%，总市值约227亿元。 数据来源：公开信息；图表制作：洞察IPO 1.南网数字：主要从事为电力能源等行业客户提供数字化建设综合解决方案。上市首日股价收涨224.78%，截至11月24日收报20.51元/股，较发行价5.69元/ 股涨260.46%，总市值约652亿元。 通过上市委员会审议会议 11月18日-11月24日，上交所科创板有2家公司过会；深交所无公司过会。 数据来源：公开信息；图表制作：洞察IPO 1.振石股份：一家主要从事清洁能源领域纤维增强材料研发、生产及销售的企业。公司自成立以来，围绕清洁能源 ...

据 IPO早知道消息，蔓迪 国际于 11月20日正式向港交所递交招股说明书，拟主板挂牌上市，华泰 国际担任独角保荐人。 一周IPO动态，覆盖港股、美股、A股。 本文为IPO早知道原创 作者｜C叔 微信公众号｜ipozaozhidao 蔓 迪 国 际 港股｜递交招股书 2001年，蔓迪 国际 推出了中国首款 5%米诺地尔酊剂，填补了对 脱发 治疗的消费医疗需求与市场 上有效产品有限之间的空白。 而后， 蔓迪 国际 进一步开发了不同规格的蔓迪 ®5%米诺地尔酊剂， 以满足不同性别 和 不同场景的需求。 2024年，蔓迪 国际 推出了第二代米诺地尔类产品蔓迪 ®5% 米诺地尔泡沫剂。 根据灼识谘询的资料，迄今为止，蔓迪 国际 的蔓迪 ®5%米诺地尔泡沫剂是中国首个且唯一获批的 国产米诺地尔泡沫剂，亦为中国化学药品领域首个且唯一获批的泡沫剂药物。 根据灼识 咨询 的资料，按零售额 计算 ，蔓迪 国际 的旗舰产品蔓迪 ®系列米诺地尔类 脱发 治疗产 品自 2014年起连续十年在中国 脱发 药物市场 和 米诺地尔类药物市场排名第一，在上述两个市场于 2024年的市场份额分别为约57% 和 71%。 财务数据方面。 202 ...

Core Viewpoint - The IPO of Haiwei Co., Ltd. is set to launch on November 20, with a base issue price of HKD 14.28 per share, raising approximately HKD 4.4 billion, and potentially up to HKD 5.8 billion if the overallotment option is fully exercised [1][2] Group 1: IPO Details - The IPO has attracted eight underwriters despite its small scale, indicating less than expected feedback from institutional roadshows [2] - The only cornerstone investor, Huixing Lihai, has committed approximately HKD 2.16 billion, representing 49.07% of the base issue size, but this has not significantly boosted market confidence due to the lack of prior cornerstone investment records [2][3] - The company's market capitalization post-IPO is expected to be around HKD 23.5 billion, but it does not meet the HKD 100 billion threshold for inclusion in the Hong Kong Stock Connect, requiring a tenfold increase in stock price [3] Group 2: Financial Performance - Haiwei Co., Ltd. has experienced significant revenue and profit fluctuations, with revenues of RMB 3.27 billion, RMB 3.30 billion, and RMB 4.22 billion from 2022 to 2024, but a slight decline of 3.2% in the first five months of 2025 [4] - Net profit has also shown volatility, dropping from RMB 1.02 billion in 2022 to RMB 698.26 million in 2023, before recovering to RMB 864.18 million in 2024, but again decreasing by 4.6% in early 2025 [4][5] Group 3: Operational Challenges - The company faces operational pressures due to weak bargaining power with suppliers and clients, with high supplier concentration and significant reliance on key raw materials [5][6] - The gross margin for core products has been under pressure, with the capacitor base film margin declining from 48.6% in 2022 to 41.2% in early 2025 [6] - Cash flow stability is a concern, with negative operating cash flow recorded in 2023 and early 2025, alongside a cash balance of only RMB 160 million as of May 31, 2025 [6] Group 4: Capacity and Expansion Plans - The company plans to use 82% of the IPO proceeds to build a new capacitor base film production facility in southern China, with two production lines planned to have an annual capacity of approximately 8,000 tons [7] - However, the company has not yet selected a factory site, indicating that short-term capacity constraints will persist [7]

Market Performance - A-shares adjusted with the Shanghai Composite Index down 0.4% to 3931.05 points, Shenzhen Component down 0.76%, and ChiNext down 1.12%[1] - Hong Kong's Hang Seng Index closed up 0.02% at 25835.57 points, while the Hang Seng Tech Index fell 0.58%[1] - The total market turnover in Hong Kong was 2451.357 million HKD[1] Employment Data - The U.S. added 119,000 jobs in September, but the unemployment rate rose to 4.4%, the highest in nearly four years[8][13] - Job growth was concentrated in healthcare, entertainment, and hospitality, while manufacturing and business services saw job losses[13] Inflation and Interest Rate Outlook - Multiple Federal Reserve officials warned about inflation risks, making the outlook for interest rate cuts uncertain before year-end[1][13] - The market currently estimates a 40% chance of a rate cut in December[13] Geopolitical Tensions - China rejected Japan's statements regarding Taiwan and reiterated demands for the Japanese Prime Minister to retract his comments[1][13] - The U.S. expressed support for Japan in any disputes with China, indicating ongoing geopolitical tensions[8][13]

Core Viewpoint - Hebei Haiwei Electronic New Materials Technology Co., Ltd. is set to launch its IPO, aiming to raise funds for capacity expansion and R&D enhancement, with a focus on capacitor film products that are critical in various applications [2][6]. Group 1: Company Overview - Haiwei Electronic specializes in two main types of capacitor films: capacitor base films and metallized films, which are essential components of film capacitors known for their excellent voltage resistance, high-frequency stability, and long lifespan [3][4]. - The company is the second-largest capacitor film manufacturer in China by sales volume, holding a market share of 10.9% in capacitor base film revenue for 2024 [5]. Group 2: Market Potential - The capacitor base film market in China is projected to grow at a compound annual growth rate (CAGR) of 19.7%, increasing from 46,200 tons in 2019 to 113,400 tons by 2024, and expected to reach 224,100 tons by 2029, with a CAGR of 14.1% from 2025 to 2029 [5]. - Haiwei Electronic is the only major capacitor film manufacturer in China with the capability to design and develop its own capacitor base film production lines, allowing for flexibility in meeting diverse customer needs [5]. Group 3: Future Developments - The company is actively researching and developing manufacturing technology for thinner capacitor base films, particularly those below 2.5 microns, to align with industry trends driven by the demand for smaller film capacitors [6]. - Approximately 82.0% of the net proceeds from the IPO are expected to be used for capacity expansion, while 5.0% will enhance R&D capabilities, and 3.0% will be allocated for sales and marketing activities [6].

Group 1 - The company, Haiwei Co., Ltd. (09609.HK), has officially launched its global offering in Hong Kong, planning to issue 30.83 million shares at a price of HKD 14.28 per share, aiming to raise approximately HKD 388.9 million net of expenses [2] - The offering includes 27.75 million shares for international placement and 3.08 million shares for public offering in Hong Kong, with the public offering period set from November 20 to November 25, 2023 [2] - Approximately 82% of the raised funds will be used for capacity expansion, while 5% will be allocated to enhance research and development capabilities [2] Group 2 - Haiwei Co., Ltd. is the second-largest capacitor film manufacturer in China, holding a market share of 14.2% in terms of sales volume and 10.9% in terms of revenue [3] - The company's financial performance has shown volatility, with revenues of RMB 327 million, RMB 330 million, RMB 422 million, and RMB 157 million for the years 2022 to 2024 and the first half of 2025, respectively [3] - The revenue from capacitor base films accounted for 78.5% of the total revenue in the first half of 2025, indicating a high dependency on this product line [3]

预计募集资金净额约3.889亿港元，其中82%用于扩大产能，5%用于研发，3%用于销售与营销，10%用 于营运资金及一般企业用途。 （文章来源：证券时报网） 公司是中国第二大电容器薄膜制造商，2024年电容器基膜市场份额达10.9%。主要产品为电容器基膜和 金属化膜，广泛应用于新能源汽车、新能源电力系统、工业设备和家用电器。 海伟股份招股时间为2025年11月20日至25日，拟全球发售3083.14万股H股，其中香港发售占10%，国际 发售占90%。 每股发售价为14.28港元，预计H股将于2025年11月28日在联交所上市。 ...