New Stock News | A new "super subscription king" is born! The folding bike manufacturer DAHON TECH has a subscription oversubscription of over 6,688 times, with an entry fee of about HKD 5,000 for one lot

According to Zhitong Finance APP, the initial public offering (IPO) of mainland folding bicycle manufacturer DAHON TECH (02543) has closed at noon today. Comprehensive data from multiple brokerages show that DAHON TECH's margin subscription reached approximately HKD 262.194 billion. With the initial fundraising amount of HKD 39.2 million for DAHON TECH's public offering, it was oversubscribed by over 6,688 times, not only replacing the previous record of 5,998.96 times for Brilliance (00325) in January this year but also surpassing the 6,288 times oversubscription of Maokai Kwai Chung (01716) when it went public in April 2018, becoming the "oversubscription king" in the history of new stocks. DAHON TECH is expected to be listed on September 9, with CITIC Construction Investment International as the sole sponsor. According to the prospectus, the company plans to issue 7.92 million H shares, with 10% allocated for public offering in Hong Kong, at an offering price of HKD 49.5 per share, raising approximately HKD 390 million. Each board lot consists of 100 shares, with an entry fee of about HKD 5,000. The public offering does not have a replenishment mechanism but can be redistributed, with the final public offering portion potentially accounting for up to 15% of the initial subscription scale. Cornerstone investors include Allianz Global Investors Asia Pacific, Greater Bay Area Fund Management, Harvest Global Investments, and Vico Hong Kong, collectively subscribing for approximately USD 12.76 million. It is reported that the company is the largest folding bicycle company in mainland China, ranking first in both retail volume and retail value for folding bicycles in 2024. According to data from Zhaoshang Consulting, the company ranks first in the mainland folding bicycle industry by retail volume in 2024, with a market share of 26.3%. By retail value in 2024, the company also ranks first in the mainland folding bicycle industry, with a market share of 36.5%. As of April 30, 2025, the company offers over 70 models of bicycles. According to data from Zhaoshang Consulting, the company holds the most patents in the Chinese folding bicycle industry, with 113 valid patents in mainland China as of April 30, 2025. As of the same date, the company also holds 22 valid patents in the United States, Europe, and Japan. As of April 30, 2025, the company has authorized 18 and 16 peers to use its patented technology and DAHON brand through the Sharing 360 project. The company has established a comprehensive and efficient sales and distribution network, continuously improving product coverage and penetration in both offline and online channels in mainland China. As of April 30, 2025, the company collaborates with 38 distributors across 30 provincial-level administrative regions in China, covering 680 retail points. The company has also expanded into online channels, including major e-commerce and social media platforms in mainland China, such as JD.com, Tmall, Douyin, and Pinduoduo