02865 鈞達股份
DRINDA
DRINDA
| Register Close | 2025/05/02 IPO Closing in 2 Days |
| Listing Date | 2025/05/08 |
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IPO Detail
COMPANY PROFILE
Hainan Drinda New Energy Technology Co., Ltd. is a leading specialized manufacturer of PV cells. The Group have been continuously focusing on the R&D, production, and sales of high-efficiency PV cells. Leveraging the Group’s R&D innovation and key technologies, it maintained competitive position across different generations of mainstream PV cells, including both N-type TOPCon cells and P-type PERC cells.
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According to Frost & Sullivan, based on the shipment volume in 2024, among specialized manufacturers, the Group’s N-type TOPCon cells’ market share reached approximately 24.7% and ranked first globally, and its PV cells’ market share reached approximately 17.9% and ranked second globally. Among both specialized and integrated manufacturers, the Group’s N-type TOPCon cells’ market share was approximately 7.5%, and its PV cells’ market share was approximately 5.6%.
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The Group provide N-type TOPCon and P-type PERC cells to many world-leading customers, the majority of which are based in China. As of December 31, 2024, the Group’s annualized production capacity for PV cells was approximately 44.4 GW, all of which was for N-type TOPCon cells. The Group have production plants in Shangrao, Chuzhou, and Huai’an, respectively.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Industrials |
| Major Business Area | China |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 63.43M H shares |
| No. of International Offer Shares | 57.09M H shares |
| No. of HK Offer Shares | 6.34M H shares |
| Offer Price | $20.40 - $28.60 |
| Stock Code | 2865 |
| Sponsor(s) | CMB International Capital Limited, Huatai Financial Holdings (Hong Kong) Limited, Deutsche Securities Asia Limited |
| Underwriter(s) | Huatai Financial Holdings (Hong Kong) Limited, CMB International Capital Limited, Deutsche Bank AG, Hong Kong Branch, CLSA Limited, China International Capital Corporation Hong Kong Securities Limited, SDICS International Securities (Hong Kong) Limited, Patrons Securities Limited, Fosun International Securities Limited, Fortune (HK) Securities Limited, TradeGo Markets Limited, GF Securities (Hong Kong) Brokerage Limited, CCB International Capital Limited, ICBC International Securities Limited, BOCI Asia Limited |
TIME TABLE
| Application Period | Apr 28 (Mon) - noon, May 02 (Fri) |
| Price Determination Date | May 06 (Tue) |
| Result Announcement Date | On or before May 07 (Wed) |
| Result Announcement Date | On or before May 07 (Wed) |
| Result Announcement Date | On or before May 08 (Thu) |
| Dealings in Shares commence on | May 08, 2025. (Thu) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $20.40 - $28.60 |
| Capitalization | 11.05B - 11.57B |
| NAV / share ($) | $14.73 - $16.44 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 24.5, the net proceeds raised would be HKD 1.43B, of which |
| 75% : Construction of an overseas PV cell production plant |
| 8% : R&D of advanced technologies in PV cells and its production process |
| 7% : Establishing and enhancing overseas sales operations and distribution channels |
| 10% : Working capital |
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).