智通财经获悉，预制钢结构建筑服务公司美联股份(02671)12月18日至23日中午招股。美联股份获券商 孖展27.5亿港元，以公开发售集资额2253万港元计，超购121倍。 美联股份计划发行2460万股H股，一成于香港作公开发售，招股价介于7.1港元至9.16港元，集资最多近 2.3亿港元。每手300股，一手入场费2775.7港元。美联股份预期将于12月30日挂牌买卖。申万宏源香港 为独家保荐人。 据招股书，美联股份是预制钢结构建筑(预制钢结构建筑)市场的工业领域的综合预制钢结构建筑分包服 务提供商。该公司为各行各业的建筑项目提供综合服务，涵盖项目设计和优化、采购、制造和安装。该 公司主要在中国(其次是在海外)从事预制钢结构建筑的建造。凭借技术与专业知识，该公司在中国预制 钢结构建筑市场的工业领域建立了良好声誉。 根据弗若斯特沙利文报告，按2024年收入计，该公司于中国预制钢结构建筑市场的工业领域中排名第 三，市场份额为3.5%;而两大参与者的市场份额分别为35.8%及6.5%。截至2025年12月9日，该公司拥有 119个在手项目。 本文源自：智通财经网 美联股份引入彩云、Tiny Jade、吴兴华、Log ...

Group 1 - The Hong Kong IPO market saw six companies, including Meilian Holdings (02671.HK), launch their public offerings on December 18, marking the largest IPO event of the month [2] - Meilian Holdings plans to issue 24.6 million shares, with an expected net fundraising of approximately HKD 164 million if priced at the midpoint of HKD 8.13 [2] - The funds raised will be allocated as follows: approximately 37.7% for capital investments in production facilities and equipment, 26.7% for prepayment related to new projects, and 12.3% for enhancing sales and marketing development [2] Group 2 - Meilian Holdings operates in the prefabricated steel structure construction market, providing comprehensive subcontracting services across various sectors, including project design, procurement, manufacturing, and installation [4] - The company's revenue sources are primarily from the automotive and automotive parts industry (62.8%), food and beverage (10.7%), and machinery (10.4%) as of the first half of 2025 [4] - In the first half of 2025, Meilian Holdings reported revenue of RMB 1.424 billion and a net profit of RMB 62.629 million, with 119 ongoing projects expected to generate approximately RMB 789 million in confirmed revenue [4]

Group 1 - The company, Meilian Holdings (02671.HK), plans to globally offer 24.6 million H-shares, with 2.46 million shares available in Hong Kong and 22.14 million shares for international offering, subject to adjustments based on the exercise of the over-allotment option [1] - The expected price range for the shares is between HKD 7.10 and HKD 9.16 per share, with the subscription period from December 18 to December 23, 2025, and trading expected to commence on December 30, 2025 [1] - Meilian Holdings is a comprehensive provider of prefabricated steel structure construction services, primarily operating in China and recognized for its expertise in the industrial sector of the prefabricated steel structure market [1][2] Group 2 - According to a Frost & Sullivan report, the company ranks third in the Chinese prefabricated steel structure market with a market share of 3.5%, while the top two competitors hold market shares of 35.8% and 6.5% respectively [1] - The prefabricated steel structure market is valued for its efficiency, strength, and adaptability, making it a preferred choice for modern industrial buildings [2] - The company has entered into cornerstone investment agreements, with cornerstone investors agreeing to subscribe for approximately HKD 51.5 million worth of shares, assuming a mid-range offer price of HKD 8.13 per share [2] Group 3 - The estimated net proceeds from the global offering, assuming no exercise of the over-allotment option, will be approximately HKD 164.2 million [3] - The intended use of the net proceeds includes approximately 37.7% for capital investments, 26.7% for prepayments related to new projects, 12.3% for sales and marketing development, 9.3% for selective acquisitions and investments, 9.0% for enhancing R&D capabilities, and 5.0% for working capital and general corporate purposes [3]

聯席賬簿管理人及聯席牽頭經辦人 美聯鋼結構建築系統(上海)股份有限公司 USAS BUILDING SYSTEM SHANGHAI CO., LTD. ( ) （於中華人民共和國註冊成立的股份有限公司） 股份代號 : 2671 全球發售 獨家保薦人、獨家整體協調人、獨家全球協調人、 聯席賬簿管理人及聯席牽頭經辦人 美聯鋼結構建築系統(上海)股份有限公司 USAS BUILDING SYSTEM SHANGHAI ( ) CO., LTD. 美聯鋼結構建築系統(上海)股份有限公司 CO., LTD. USAS BUILDING SYSTEM SHANGHAI ( ) 聯席賬簿管理人及聯席牽頭經辦人 重 要 提 示 重要提示：如您對本招股章程的任何內容有任何疑問，應徵詢獨立專業意見。 USAS Building System (Shanghai) Co., Ltd. 美 聯 鋼 結 構 建 築 系 統（ 上 海 ）股 份 有 限 公 司 （於中華人民共和國註冊成立的股份有限公司） 全球發售 全球發售項下的發售股份數目 ： 24,600,000股H股（視乎超額配股權行使與否而定） 香港發售股份數目 ： 2,460, ...

Core Viewpoint - Meilian Steel Structure Building System (Shanghai) Co., Ltd. has passed the listing hearing on the main board of the Hong Kong Stock Exchange, with Shenwan Hongyuan Hong Kong as the sole sponsor [1] Company Overview - Meilian is a comprehensive provider of prefabricated steel structure building subcontracting services, offering integrated services including project design, procurement, manufacturing, and installation primarily in China and overseas [3] - The company ranks third in the industrial sector of China's prefabricated steel structure building market with a market share of 3.5% as of 2024, while the top two competitors hold market shares of 35.8% and 6.5% respectively [3][5] Business Segments - The company's operations are divided into three categories: (i) prefabricated steel structure building subcontracting services, (ii) specialized engineering contracting, and (iii) industrial environmental protection equipment [4] - The prefabricated steel structure building subcontracting services are the cornerstone of the business, providing tailored integrated services for various industrial project needs [4] - The specialized engineering contracting segment oversees the entire project lifecycle, including implementation, quality control, and budget management [4] - The industrial environmental protection equipment segment focuses on mechanical filtration and noise reduction systems, contributing significantly to revenue [4] Market Dynamics - The industrial sector of the prefabricated steel structure building market in China is highly concentrated, with the largest player dominating the industry [5] - The company's production capacity is supported by advanced facilities located in Shanghai, Suzhou, and Jiangmen, equipped to meet diverse business demands [6] Financial Performance - The company's revenue for the fiscal years 2022, 2023, and 2024 is approximately CNY 1.903 billion, CNY 1.453 billion, and CNY 1.523 billion respectively, with profits of CNY 87.8 million, CNY 62.1 million, and CNY 70.8 million [7][8] - The utilization rates for prefabricated steel structure components were 128.3%, 88.1%, and 101.7% for the years 2022, 2023, and 2024 respectively, while the industrial environmental protection equipment utilization rates were 50.9%, 72.7%, and 85.9% [6]

Core Viewpoint - Meilian Steel Structure Building System (Shanghai) Co., Ltd. is preparing for a listing on the Hong Kong Stock Exchange, with Shenwan Hongyuan Hong Kong as the sole sponsor, focusing on the prefabricated steel structure building market in China [1] Group 1: Company Overview - Meilian is a comprehensive subcontractor in the prefabricated steel structure building market, providing services that include project design, procurement, manufacturing, and installation [1][2] - The company has established a strong reputation in the industrial sector of the prefabricated steel structure market in China, ranking third with a market share of 3.5% as of 2024 [1][3] Group 2: Business Segments - The company's operations are divided into three categories: (i) prefabricated steel structure subcontracting services, (ii) specialized engineering contracting, and (iii) industrial environmental protection equipment [2] - The prefabricated steel structure subcontracting services are the cornerstone of the business, offering tailored solutions that encompass design, manufacturing, on-site installation, and quality assurance [2] Group 3: Industrial Environmental Protection Equipment - The industrial environmental protection equipment segment focuses on mechanical filtration and noise reduction systems (MFAS), which currently contribute the majority of the company's revenue [3] - The company is also developing and commercializing an advanced air pollution control (APC) product line to meet the growing demand in industrial manufacturing environments [3] Group 4: Production Capacity and Performance - The company operates advanced production facilities in Shanghai, Suzhou, and Jiangmen, which support the production of prefabricated steel structure components and industrial environmental protection equipment [4] - Capacity utilization rates for prefabricated steel structure components were 128.3%, 88.1%, 101.7%, and 158.7% for the years ending December 31, 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [4] - The company has a total of 119 projects on hand as of December 9, 2025, with revenue figures for the years 2022 to 2025 showing fluctuations, with 1.903 billion, 1.453 billion, 1.523 billion, and 1.424 billion RMB respectively [5]

Core Viewpoint - Meilian Steel Structure Building System (Shanghai) Co., Ltd. is preparing for its main board listing on the Hong Kong Stock Exchange, with Shenwan Hongyuan Hong Kong as the sole sponsor [1]. Company Overview - Meilian is a comprehensive provider of prefabricated steel structure building subcontracting services, offering integrated services including project design, procurement, manufacturing, and installation primarily in China and overseas [3]. - The company ranks third in the industrial sector of China's prefabricated steel structure building market with a market share of 3.5% as of 2024, while the top two competitors hold market shares of 35.8% and 6.5% respectively [3][5]. Business Segments - The company's operations are divided into three categories: (i) prefabricated steel structure building subcontracting services, (ii) specialized engineering contracting, and (iii) industrial environmental protection equipment [4]. - The prefabricated steel structure building subcontracting services are the cornerstone of the business, providing tailored integrated services for various industrial project needs [4]. - The specialized engineering contracting segment oversees the entire project lifecycle, including implementation, quality control, and budget management [4]. - The industrial environmental protection equipment segment focuses on mechanical filtration and noise reduction systems, contributing significantly to revenue [4]. Market Dynamics - The industrial sector of the prefabricated steel structure building market in China is highly concentrated, with the largest players dominating the industry [5]. - The company’s production capacity is supported by advanced facilities located in Shanghai, Suzhou, and Jiangmen, which are equipped to meet diverse business demands [6]. Financial Performance - The company reported revenues of approximately RMB 1.903 billion, RMB 1.453 billion, RMB 1.523 billion, and RMB 1.424 billion for the fiscal years ending in 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [7]. - Profit figures for the same periods were RMB 87.77 million, RMB 62.13 million, RMB 70.78 million, and RMB 62.63 million [7]. - The company’s bid win rates for prefabricated steel structure projects were 27.8%, 30.3%, 22.7%, and 32.1% for the respective years, while the total contracting projects had win rates of 25.0%, 20.0%, 35.3%, and 18.8% [6].

The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Post Hearing Information Pack, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Post Hearing Information Pack. Post Hearing Information Pack of USAS Building System (Shanghai) Co., Ltd. 美 聯 鋼 結 構 建 築 系 統（ 上 海 ）股 份 有 限 公 司 ( ...

香港聯合交易所有限公司與證券及期貨事務監察委員會對本聆訊後資料集的內容概不負責，對其準確性或 完整性亦不發表任何意見，並明確表示概不就因本聆訊後資料集全部或任何部分內容而產生或因倚賴該等 內容而引致的任何損失承擔任何責任。 USAS Building System (Shanghai) Co., Ltd. 美 聯 鋼 結 構 建 築 系 統（ 上 海 ）股 份 有 限 公 司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的聆訊後資料集 警告 本聆訊後資料集乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證監會」）的要 求而刊發，僅用作提供資訊予香港公眾人士。 本聆訊後資料集為草擬本，其所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代 表 閣下知悉、接納並向本公司、其獨家保薦人、整體協調人、顧問或承銷團成員表示同意： 本公司招股章程根據香港法例第32章《公司（清盤及雜項條文）條例》送呈香港公司註冊處處長登記前，本公 司不會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或邀請，有意投資者務請 僅依據送呈香港公司註冊處處長登記的本公司招股章程作 ...

Core Insights - The China Securities Regulatory Commission has confirmed the overseas listing of three companies: Huichuang Electronics, Nobikang, and Meilian Co., with Huichuang planning to list in Taiwan and the other two in Hong Kong [1][5]. Group 1: Huichuang Electronics - Huichuang Electronics plans to issue no more than 10,400,000 ordinary shares and list on the Taiwan Stock Exchange [1]. - The company specializes in the research, design, and manufacturing of automotive electronic products, including automatic door lock systems, electric window lifters, and smart anti-theft devices [3]. Group 2: Nobikang - Nobikang intends to issue no more than 4,354,550 ordinary shares for its listing on the Hong Kong Stock Exchange [5]. - The company focuses on the industrial application of artificial intelligence technologies and digital twins in sectors such as AI + transportation, AI + energy, and AI + urban governance, providing intelligent monitoring, testing, and operation solutions [6]. - Financial performance shows revenues of 101 million, 253 million, 364 million, and 186 million yuan for the years 2021 to 2023 and the first half of 2024, with corresponding net profits of 25.74 million, 63.16 million, 88.57 million, and 50.74 million yuan [6]. Group 3: Meilian Co. - Meilian Co. plans to issue no more than 36,780,300 ordinary shares for its listing on the Hong Kong Stock Exchange [9]. - The company is a comprehensive service provider in the prefabricated steel structure construction market, offering services that include project design and optimization, procurement, manufacturing, and installation [9]. - Financial data indicates revenues of 1.903 billion, 1.453 billion, 1.523 billion, and 1.424 billion yuan for the years 2022 to 2024 and the first half of 2025, with net profits of 87.71 million, 62.13 million, 70.78 million, and 62.63 million yuan [9].