Changxin Technology has issued an announcement, revealing its plans to launch an initial public offering (IPO) and list on the Science and Technology Innovation Board. The issue price has been firmly established at 8.66 yuan per share. On July 16, 2026, during the designated period, investors will have the opportunity to participate in both offline and online subscriptions. Notably, no funds are required to be paid at the time of subscription. Initially, the company intends to issue 6.688 billion shares, which will constitute approximately 10% of the total share capital post-issuance. Furthermore, Changxin Technology has conferred upon CICC an over-allotment option, allowing for the issuance of up to an additional 15% of the initially planned shares.
Based on the stipulated issue price and utilizing the lower figure of net profit attributable to shareholders for 2025, whether calculated before or after deducting non-recurring items, the diluted price-earnings ratio (P/E) stands at 308.92 times (assuming the over-allotment option remains unexercised). This P/E ratio surpasses the industry average as well as that of comparable companies. In the scenario where the over-allotment option is not exercised, Changxin Technology anticipates raising a total of approximately 57.919 billion yuan in funds. After deducting issuance expenses, the net amount is projected to be around 57.638 billion yuan.