【New Stock IPO】Zhaowei Electromechanical 2692 to list tomorrow, margin recorded 86.7 billion oversubscribed 439 times, entry fee 7,442 yuan, introducing 21 institutional investors including Hillhouse and Gaoyi Capital

SocialAnxietyStaker · 2026-03-04T03:40:16+00:00

Zhaowei Electromechanical will conduct its IPO from February 27 to March 4, with a total oversubscription of 86.73 billion yuan as of the afternoon of March 3, representing an oversubscription of 439.3 times. The company plans to issue 26,748,300 H-shares at HKD 73.68 per share, with an expected listing date of March 9. The proceeds will be used for technological research and development, capacity expansion, and global market expansion. Its net profit increased by 14.3% year-on-year, benefiting from growth in automotive product sales.

SocialAnxietyStaker

2026-03-04 03:40:16

Abstract generation in progress

Mainland China integrated micro transmission and drive system product provider Zhaowei Electromechanical (New Listing Code: 02692) will conduct an IPO from February 27 to March 4. According to comprehensive brokerage data, as of 4:30 PM on March 3, Zhaowei Electromechanical has temporarily recorded 86.73 billion HKD in margin subscriptions, with a public offering fundraising target of 19.7 million HKD, representing an oversubscription of 439.3 times.

Zhaowei Electromechanical plans to issue 26,748,300 H-shares, with the public offering accounting for 10%, aiming to raise up to 1.971 billion HKD. The offering price is 73.68 HKD per share, with a lot size of 100 shares, and an initial entry fee of 7,442.31 HKD. The listing is expected on March 9. Joint sponsors are China Merchants Securities and Deutsche Bank.

Zhaowei IPO attracts 21 cornerstone investors, including Hillhouse Capital, Gaoyi Asset Management, Jump Trading, South Korea Future Asset, US-based Jump Trading, GF Fund Hong Kong, Tusda (Shenzhen: 300607), Minyin International, and Rixiang Capital, with a total subscription of 579 million RMB worth of shares.

Before the A-share (Shenzhen: 003021) IPO, Zhaowei Electromechanical closed at 120.75 RMB (approximately 138.1 HKD) last Thursday (26th), representing a 46.6% discount compared to the highest H-share offering price.

Zhaowei Electromechanical plans to allocate approximately 35% of the proceeds from the listing for global R&D and product expansion; about 30% for expanding capacity and improving production efficiency worldwide; approximately 15% for selectively developing global strategic partnerships, investments, and mergers and acquisitions; around 10% for expanding global service and sales networks and intensifying global marketing efforts; and the remaining 10% for operating capital and general corporate purposes.

As of the nine months ending September 30, 2025, Zhaowei Electromechanical recorded a net profit of 182 million RMB, an increase of 14.3% year-on-year, mainly driven by revenue growth, which was primarily supported by increased automotive product sales.

Source: HKEX Announcement

Follow new stock news at 【New IPOs】

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.