02451 綠源集團控股
LUYUAN GP HLDG
LUYUAN GP HLDG
| Listing Date | 2023/10/12 |
| Listing Price | 7.370 |
Subscription Result
- Subscription Rate7.66x
- Guarantee One Lot Size4 lot
- One Lot Success Rate80.03%
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IPO Detail
COMPANY PROFILE
Luyuan Group Holding is an electric two-wheeled vehicle provider in mainland China, focusing on the design, research and development, manufacturing and selling of electric two-wheeled vehicles. According to Frost & Sullivan, the Group was the fifth largest manufacturer of electric two-wheeled vehicles in mainland China in terms of total revenue in 2022, with a market share of 4.2%.
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Its Luyuan brand has over 20 years of history in mainland China’s electric two-wheeled vehicle industry. As of April 30, 2023, it had 1,314 distributors covering 319 cities across 30 provincial-level administrative regions in mainland China. The number of retail outlets within its distribution network was over 11,400. In addition, through cooperation with overseas distributors, its products were sold in 37 countries and regions including Thailand, Indonesia and the Philippines.
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The Group operated self-operated online stores on mainstream e-commerce platforms and cooperate with well-known online retailers which attempts to bring online traffic to physical retail outlets. It has been developing corporate and institutional customers, including shared mobility service providers and on-demand e-commerce companies.
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It currently operates three production plants located in Zhejiang, Shandong and Guangxi. As of December 31, 2022, its annual production capacity of electric two-wheeled vehicles was approximately 3.3 million units.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Automobiles |
| Major Business Area | China |
| Board Lot | 500 |
GLOBAL OFFERING
| No. of Offer Shares | 106.67M shares |
| No. of International Offer Shares | 96.00M shares |
| No. of HK Offer Shares | 10.67M shares |
| Offer Price | $6.00 - $8.00 |
| Stock Code | 2451 |
| Sponsor(s) | China Securities (International) Corporate Finance Company Limited |
| Underwriter(s) | China Securities (International) Corporate Finance Company Limited, TFI Securities and Futures Limited, ABCI Securities Company Limited, Guotai Junan Securities (Hong Kong) Limited, CMB International Capital Limited, ICBC International Securities Limited, SPDB International Capital Limited, Daiwa Capital Markets Hong Kong Limited, Valuable Capital Limited, Livermore Holdings Limited, Futu Securities International (Hong Kong) Limited, SBI China Capital Financial Services Limited, China Galaxy International Securities (Hong Kong) Co., Limited |
TIME TABLE
| Application Period | Sep 28 (Thu) - noon, Oct 04 (Wed) |
| Price Determination Date | Oct 04 (Wed) |
| Result Announcement Date | On or before Oct 11 (Wed) |
| Result Announcement Date | On or before Oct 11 (Wed) |
| Result Announcement Date | On or before Oct 11 (Wed) |
| Dealings in Shares commence on | Oct 12, 2023. (Thu) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $6.00 - $8.00 |
| Capitalization | 2.56B - 3.41B |
| NAV / share ($) | $3.22 - $3.7 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 7.00, the net proceeds raised would be HKD 668.60M, of which |
| 30% : Research and development efforts to maintain technical edge |
| 30% : Strengthen sales and distribution channels and for branding and marketing activities to raise brand awareness |
| 30% : Strengthen production capabilities, mainly involving the construction of new production facilities and upgrading of production equipment and machinery |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).