本文源自：格隆汇 港股市场新股卓越睿新(2687.HK)今日首日上市，尾盘拉升，涨幅一度扩大至超88%，报127港元。卓越 睿新是一家高校教学数字化解决方案提供商，致力于高校数字化教育内容、数字化教学场景服务及产品 的开发、交付和运营，产品服务覆盖教、学、练、考、评、管等所有重要方面。招股书显示，卓越睿新 2022年、2023年、2024年营收分别为4亿元、6.53亿元、8.48亿元；毛利分别为1.77亿元、3.96亿元、 5.25亿元；毛利率分别为44.1%、60.7%、61.9%；经营利润分别为-7939万、8709万、1.09亿；运营利润 率分别为-19.8%、13.3%、12.8%；拥有人应占利润分别为-5911万、8142万、1.05亿元；期内利润率分 别为-14.8%、12.5%、12.4%。 ...

根据发行计划，卓越睿新计划在香港发行666.7万股H股，一成于香港作公开发售，招股价介乎62.26- 76.10港元，集资最多5.1亿港元。每手100股，一手入场费约7686.8港元。 募集资金用途方面，36.7%用于研发；31.8%用于提升客户服务及支持能力；21.5%用于在选定城市设立 一个或两个知识图谱开发中心，以增强知识图谱构建、生产及交付能力以及效率；10%用于营运资金及 一般公司用途。 智通财经APP获悉，卓越睿新(02687)11月28日至12月3日中午招股，最新已经结束认购，预期将于12月8 日挂牌买卖。市场统计数据显示，截至周三(12月3日)上午10时，公司孖展认购额录得1912亿港元，以 公开发售额5074万港元计，超购3767.5倍。 招股书显示，卓越睿新是一家中国的高校教学数字化解决方案提供商，致力于高校数字化教育内容、数 字化教学场景服务及产品的开发、交付和运营。产品服务覆盖教、学、练、考、评、管等所有重要方 面。根据弗若斯特沙利文的资料，2023年，卓越睿新在中国高等教育教学数字化市场所有公司中收入排 名第二，市场份额为3.4%；在中国高等教育数字化教学内容制作市场所有公司中收入排 ...

Market Overview - The A-share market experienced a significant decline, with the Shanghai Composite Index closing down 2.45% at 3834.89 points, and the Shenzhen Component Index down 3.41% [1] - The Hong Kong market also faced losses, with the Hang Seng Index closing down 2.38% at 25220.02 points, and the Hang Seng Tech Index down 3.21% [1] - In contrast, US stock indices showed positive performance, with the Dow Jones rising 1.08% to 46245.41 points, and the S&P 500 increasing by 0.98% to 6602.99 points [1] Company Developments - Excellence Education Technology has passed the listing hearing on the Hong Kong Stock Exchange, reporting a 29% year-on-year increase in net profit to 105 million RMB for 2024, with a revenue of 848 million RMB [10] - Lingyi Technology has reportedly submitted an application for a Hong Kong IPO, aiming to raise approximately 1 billion USD (about 7.8 billion HKD) [10] - Sanofi Biopharmaceuticals plans to spin off its hair health business, Mandi International, for an independent listing in Hong Kong, with a physical distribution of shares to shareholders [10] - Quantitative Technology, the parent company of the e-commerce platform Yang Xiaomei, is set to begin its IPO process, with a maximum fundraising target of 131 million RMB [10] Industry Insights - The digital education market in China is growing, with Excellence Education holding a 3.4% market share in the higher education digital teaching market and 6.2% in digital content production [10] - The AI hardware manufacturing sector is witnessing significant growth, with Lingyi Technology ranked first in the global AI terminal device high-precision components market [10] - The lithium mining sector is expected to see increased supply as CATL plans to restart operations at a key lithium mine in Yichun, which has a production capacity of 30 million tons annually [14]

Core Viewpoint - The China Securities Regulatory Commission has confirmed the overseas listing applications for seven companies, all of which are set to list in Hong Kong, indicating a growing trend of Chinese companies seeking international capital markets [1]. Group 1: Company Listings -卓越睿新 plans to issue up to 9,409,100 ordinary shares for overseas listing on the Hong Kong Stock Exchange [1]. -迈萪科技 intends to issue up to 7,500,000 ordinary shares for listing on the Taiwan Stock Exchange [5]. -和辉光电 aims to issue up to 2,802,501,000 ordinary shares for overseas listing on the Hong Kong Stock Exchange [6]. -乐舒适 plans to issue up to 148,064,800 ordinary shares for overseas listing on the Hong Kong Stock Exchange [7]. -金岩高新 intends to issue up to 27,945,000 ordinary shares for overseas listing on the Hong Kong Stock Exchange [8]. -创新国际 plans to issue up to 575,000,000 ordinary shares for overseas listing on the Hong Kong Stock Exchange [9]. -纳芯微 aims to issue up to 40,976,900 ordinary shares for overseas listing on the Hong Kong Stock Exchange [10]. Group 2: Financial Performance -卓越睿新 reported revenues of 400 million, 653 million, and 848 million CNY for 2022, 2023, and 2024 respectively, with net profits of -59.11 million, 81.42 million, and 105 million CNY [4]. -和辉光电's revenues were 4.191 billion, 3.038 billion, and 4.958 billion CNY for 2022, 2023, and 2024, with net losses of 1.602 billion, 3.244 billion, and 2.518 billion CNY [6]. -乐舒适's revenues for the first nine months of 2023 and 2024 were 320 million, 411 million, and 334 million USD, with net profits of 18.39 million, 64.68 million, and 72.28 million USD [8]. -金岩高新 reported revenues of 190 million, 205 million, 267 million, and 105 million CNY for 2022, 2023, 2024, and the first five months of 2025, with net profits of 24.42 million, 43.62 million, 52.6 million, and 18.03 million CNY [9]. -创新国际's revenues were 13.49 billion, 13.815 billion, and 10.937 billion CNY for 2022, 2023, and the first nine months of 2024, with net profits of 913 million, 1.081 billion, and 1.790 billion CNY [10]. -纳芯微 reported revenues of 1.67 billion, 1.311 billion, and 1.96 billion CNY for 2022, 2023, and 2024, with net profits of 250 million, -305 million, and -403 million CNY [11].

Summary of Key Points Core Viewpoint The article provides an overview of the recent activities in the Hong Kong stock market, highlighting the number of companies that have submitted applications for listing, those that have passed the hearing, and details about their financial performance and market positions. Group 1: New Applications - A total of 19 companies submitted applications to the Hong Kong Stock Exchange from June 16 to June 22 [3] - New Hope Group (600803.SH) is the largest private natural gas company in China, with a market share of approximately 6.1% in 2024 [3] - Wolong Technology (002130.SZ) is the second-largest high-speed copper cable manufacturer globally, holding a 24.9% market share [4] - Beijing Geekplus Technology Co., Ltd. is the largest provider of AMR solutions globally, maintaining its leading position for six consecutive years [5] - Banu International Holdings is the largest hot pot brand in China by revenue, with a market share of 3.1% [6] - Hope Sea Inc. is the largest comprehensive electronic product import supply chain solution provider in China, with an import GMV of approximately RMB 34.8 billion in 2024 [7] - Guangzhou Shiyuan Electronic Technology Co., Ltd. ranks first in the Chinese market for interactive smart panels with a 25.0% market share [8] - Anmai Biotechnology Co., Ltd. ranks second globally in T-cell connector therapy, with total transaction values exceeding USD 2.1 billion [9] - Beijing Haizhi Technology Group focuses on industrial-grade AI solutions, ranking fifth in the Chinese market [10] - Suzhou Jiyi Technology Co., Ltd. ranks second in digital retail operations in China [11] - Drip Irrigation International Investment Co., Ltd. is the first global exchange group based on revenue-sharing models [12] - Zhaowei Electromechanical (003021.SZ) provides integrated micro-drive systems, with revenues projected to grow [13] - Meige Intelligent (002881.SZ) ranks fourth globally in wireless communication modules, holding a 6.4% market share [14] - Yuxin Technology (300674.SZ) is a leading fintech solution provider in China, with significant market shares in various sectors [15] - Shanghai Zhuoyue Ruixin Digital Technology Co., Ltd. ranks second in the digital education market for higher education in China [16] - Zhaoyi Innovation (603986.SH) is the second-largest NOR Flash provider globally, with an 18.5% market share [17] - Changchun Changguang Chenxin Microelectronics Co., Ltd. specializes in high-performance CMOS image sensors [18] - Weichai Lovol Smart Agriculture Technology Co., Ltd. is a leading provider of smart agricultural solutions in China [19] - PPIO is an independent distributed cloud computing service provider [20] - Xiangkang Holdings is a major technical apparel manufacturer for high-end brands [22] Group 2: Companies Passing Hearings - Four companies passed the listing hearing this week, including Fuwai Group, which is a pan-Asian life insurance company with projected insurance revenue growth [24] - Fengcai Technology focuses on chip design for BLDC motor control, ranking sixth in the Chinese market [25] - Xunzhong Communication Technology Co., Ltd. is the third-largest cloud communication service provider in China [26] - Cloudbreak Pharma Inc. is a clinical-stage ophthalmic biotech company with two core products [27] Group 3: Recent IPOs - Haitan Flavor Industry (03288.HK) raised approximately HKD 10.1 billion in its IPO, with a slight decline in stock price post-listing [28] - Sanhua Intelligent (02050.HK) had a strong subscription rate for its IPO [29] - Baize Medical (02609.HK) and other companies also reported significant subscription rates for their IPOs [30][31][32][33]