09981 沃爾核材
WOER
WOER
| Register Close | 2026/02/10 IPO Closing in 4 Days |
| Listing Date | 2026/02/13 |
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IPO Detail
COMPANY PROFILE
Shenzhen Woer Heat-Shrinkable Material Co. is one of the largest manufacturers of heat-shrinkable materials and telecoms cable products in the world, enjoying rapid growth in line with strong expansion of high-speed data communication and electrical power transmission industries in recent years.
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The Group’s principal business consists of : its electronic communications business, which involves the development, manufacture, and sale of telecom cable products, including high-speed copper cables, consumer and industrial electronic cables, and electronic materials; its electrical power transmission business, comprising the development, manufacture, and sale of NEV power transmission products including NEV charging products and power battery safety protection products as well as electrical cable accessories; and other businesses, mainly including its wind power operations.
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According to the report, the Group ranked first in the global heat-shrinkable materials industry, with a global market share of 20.6% in terms of global revenue in 2024. In terms of global revenue in 2024, ranked in terms of global revenue in 2024, the Group ranked fifth among the manufacturers of telecoms cables, holding a global market share of 12.7%. It ranked ninth in the global NEV power transmission products industry, holding a global market share of 1.9%.
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As of September 30, 2025, the Group held 547 invention patents and had nine manufacturing bases in China and one overseas plant in Vietnam. The Group’s customers primarily consist of direct sales customers and distributors, of which direct sales customers contributed to the majority of its revenue.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | IT Hardware |
| Major Business Area | Global |
| Board Lot | 200 |
GLOBAL OFFERING
| No. of Offer Shares | 139.99M H shares |
| No. of International Offer Shares | 125.99M H shares |
| No. of HK Offer Shares | 14.00M H shares |
| Offer Price | $20.09 |
| Stock Code | 9981 |
| Sponsor(s) | China Securities (International) Corporate Finance Company Limited, China Merchants Securities (HK) Co., Limited |
| Underwriter(s) | China Securities (International) Corporate Finance Company Limited, China Merchants Securities (HK) Co., Limited, Shanxi Securities International Limited, DBS Asia Capital Limited, Futu Securities International (Hong Kong) Limited, Tiger Brokers (HK) Global Limited |
TIME TABLE
| Application Period | Feb 05 (Thu) - noon, Feb 10 (Tue) |
| Price Determination Date | Feb 11 (Wed) |
| Result Announcement Date | On or before Feb 12 (Thu) |
| Result Announcement Date | On or before Feb 12 (Thu) |
| Result Announcement Date | On or before Feb 13 (Fri) |
| Dealings in Shares commence on | Feb 13, 2026. (Fri) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $20.09 |
| Capitalization (H Shares) | 2.81B |
| NAV / share ($) | $6.38 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 20.9, the net proceeds raised would be HKD 2.73B, of which |
| 45% : Diversify product portfolio and upgrade products to expand business scope and increase market share and penetration |
| 27% : Expand global business footprint, enhance our production capacity in China and Malaysia |
| 18% : Potential strategic investments and/or acquisitions |
| 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).