Wings Technology oversubscribed by 14891 times, becoming Hong Kong's 'New Stock Oversubscription King'

Yifei Technology closed its subscription at noon on May 13th, recording an oversubscription of 14,891 times for the public offering part, with a subscription amount reaching 564.3 billion Hong Kong dollars, exceeding the record of 11,464 times held by Golden Leaf International, becoming the new king of oversubscription in Hong Kong new shares.

This industrial robot company plans to issue 24.6 million H shares, with an issue price of 30.5 Hong Kong dollars per share, raising 750 million Hong Kong dollars, and is expected to be listed and traded on May 18th. Its business covers parallel robots, mobile robots, SCARA robots, wafer transfer robots, and six-axis industrial robots, and possesses self-developed technologies such as control and vision systems.

Securities firm data shows that Yifei Technology's margin subscription amount has risen to 465.199 billion Hong Kong dollars, surpassing both BBSB INTL and Golden Leaf International in terms of margin size alone. Due to the enthusiastic subscription response, the market expects Yifei Technology to trigger the highest re-allocation mechanism under Chapter 18C, increasing the public offering ratio from 5% to 20%.

The company is still in the investment period. For the fiscal years of 2023, 2024, and 2025, Yifei Technology's revenue increased from 201 million RMB to 387 million RMB, with robot solutions being the main source of income; however, the losses for the same years were 110 million RMB, 71.5 million RMB, and 153 million RMB, respectively.