02583 西普尼
HIPINE
HIPINE
| Listing Date | 2025/09/30 |
| Listing Price | 29.600 |
Subscription Result
- Subscription Rate2,505.90x
- Guarantee One Lot Size3000 lot
- One Lot Success Rate1%
|
|
|
|
|
|
|
|
|
|
IPO Detail
COMPANY PROFILE
Shenzhen Hipine Precision Technology Co. is a designer, manufacturer and brand-owner of gold-case watches and gold-bezel watches in China. The Group’s revenue was primarily derived from the sales of gold-case watches and gold-bezel watches designed and manufactured under its flagship proprietary brand “HIPINE”.
--
The Group have two proprietary watch brands, namely its core brand, “HIPINE”, and its sub-brand, “GOLDBEAR”, under its OBM business model. As at 31 May 2025, the Group’s OBM product portfolio consisted of over 10,000 SKUs.
--
According to CIC, in 2024, in terms of GMV, HIPINE was the largest precious metal watch-24K gold brand and the largest partial precious metal watch-24K gold brand in China, with market shares of 27.08% and 28.96% in terms of GMV of precious metal watch-24K gold and GMV of partial precious metal watch-24K gold, respectively.
--
The Group’s customers are mainly domestic primary distributors which are primarily engaged in the sales of watches and accessories; and domestic jewellery brands and wholesalers. The Group’s ODM customers included various renowned domestic jewellery brands, such as Lao Feng Xiang, Sino Gem and Chow Tai Seng.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Jewellery & Watches |
| Major Business Area | China |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 10.60M H shares |
| No. of International Offer Shares | 9.54M H shares |
| No. of HK Offer Shares | 1.06M H shares |
| Offer Price | $27.00 - $29.60 |
| Stock Code | 2583 |
| Sponsor(s) | Ping An of China Capital (Hong Kong) Company Limited |
| Underwriter(s) | Ping An Securities (Hong Kong) Company Limited, AVICT Global Asset Management Limited, uSmart Securities Limited, ABCI Securities Company Limited, Patrons Securities Limited, Ruibang Securities Limited |
TIME TABLE
| Application Period | Sep 19 (Fri) - noon, Sep 25 (Thu) |
| Price Determination Date | Sep 26 (Fri) |
| Result Announcement Date | On or before Sep 29 (Mon) |
| Result Announcement Date | On or before Sep 29 (Mon) |
| Result Announcement Date | On or before Sep 30 (Tue) |
| Dealings in Shares commence on | Sep 30, 2025. (Tue) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $27.00 - $29.60 |
| Capitalization | 1.59B - 1.74B |
| NAV / share ($) | $17.35 - $17.8 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 28.3, the net proceeds raised would be HKD 255.38M, of which |
| 40.28% : Enhancing production capacity by setting up the New Putian Production Base and upgrading the production facilities at Shenzhen Production Base |
| 33.24% : Expanding and optimising sales network, strengthen brand building |
| 17.11% : Strengthening R&D capabilities through the establishment of the Putian R&D Centre |
| 9.37% : Ｗorking capital |
IPO NEWS
| 30/09/2025 16:08 |
| {New Stock}HIPINE(02583) ends up 258.11% at HK$106 |
| 30/09/2025 09:20 |
| {New Stock}HIPINE(02583) opens up 183.78% at HK$84 |
| 29/09/2025 18:35 |
| {New Stock}HIPINE ends up 187.84% at HK$85.2 on grey market |
| 29/09/2025 16:20 |
| {New Stock}HIPINE(02583) up 65.2% at HK$48.9 on grey market |
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). |
Name︰
--
--
--
Subscription --
Result Announcement --
Listing --Offer Price︰--
| Currency | : |
| Listing Price | : |
| Board Lot | : |
| Admission Fee* |
: |
| Subscribing Lot | : |
| Subscribing Fee | : |
| Subscribing Amount | : |
*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).