02788 創新實業
CHUANGXIN IND
CHUANGXIN IND
| Listing Date | 2025/11/24 |
| Listing Price | 10.990 |
Subscription Result
- Subscription Rate447.20x
- Guarantee One Lot Size180 lot
- One Lot Success Rate10%
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IPO Detail
COMPANY PROFILE
Chuangxin Industries Holdings Ltd. focus on alumina refining and aluminum smelting within the upstream of the aluminum industry chain. The aluminum industry chain mainly consists of upstream aluminum production and downstream aluminum alloy processing. Upstream aluminum production primarily comprises three stages: bauxite mining, alumina refining and aluminum smelting.
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The Group’s business mainly comprises the production and sales of electrolytic aluminum as well as alumina and other related types of products. As of December 31, 2024, the Group had achieved a high rate of self-sufficiency in alumina and electricity supply.
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According to CRU, the Group’s aluminum smelter in Huolinguole, Inner Mongolia, was the fourth-largest production base of electrolytic aluminum in terms of production output in 2024 in North China and it was also the twelfth-largest electrolytic aluminum producer in China.
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As of November 6, 2025, the Group had an annual designed production capacity of 788.1 kt for electrolytic aluminum and 1,200.0 kt for alumina. The Group’s customers mainly consisted of nonferrous metal processing and manufacturing enterprises and traders.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Diversified Metals & Minerals |
| Major Business Area | China |
| Board Lot | 500 |
GLOBAL OFFERING
| No. of Offer Shares | 500.00M shares |
| No. of International Offer Shares | 450.00M shares |
| No. of HK Offer Shares | 50.00M shares |
| Offer Price | $10.18 - $10.99 |
| Stock Code | 2788 |
| Sponsor(s) | China International Capital Corporation Hong Kong Securities Limited, Huatai Financial Holdings (Hong Kong) Limited |
| Underwriter(s) | China International Capital Corporation Hong Kong Securities Limited, Huatai Financial Holdings (Hong Kong) Limited, UOB Kay Hian (Hong Kong) Limited, CMB International Capital Limited, BOCI Asia Limited, AVICT Global Asset Management Limited, South China Securities Limited, Futu Securities International (Hong Kong) Limited, Tiger Brokers (HK) Global Limited, Livermore Holdings Limited |
TIME TABLE
| Application Period | Nov 14 (Fri) - noon, Nov 19 (Wed) |
| Price Determination Date | Nov 20 (Thu) |
| Result Announcement Date | On or before Nov 21 (Fri) |
| Result Announcement Date | On or before Nov 21 (Fri) |
| Result Announcement Date | On or before Nov 24 (Mon) |
| Dealings in Shares commence on | Nov 24, 2025. (Mon) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $10.18 - $10.99 |
| Capitalization | 20.36B - 21.98B |
| NAV / share ($) | $1.82 - $2.02 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 10.58, the net proceeds raised would be HKD 5.11B, of which |
| 50% : Used for expanding overseas production capacity, including the construction of an aluminum smelter and the purchase and installation of production equipment |
| 40% : Used for green energy projects, including the construction of green power plants and the purchase and installation of equipment |
| 10% : Working capital |
IPO NEWS
| 24/11/2025 16:08 |
| {New Stock}CHUANGXIN IND(02788) ends up 32.76% at HK$14.59 |
| 24/11/2025 09:20 |
| {New Stock}CHUANGXIN IND(02788) opens up 38.31% at HK$15.2 |
| 21/11/2025 18:35 |
| {New Stock}CHUANGXIN IND ends up 30.57% on grey market |
| 21/11/2025 16:20 |
| {New Stock}CHUANGXIN IND up 20.11% at HK$13.2 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). |
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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).