Hong Kong Market IPO Watch: Meig Smart, Estun Automation, Zhaowei, and ALSCO Pooling Commence Public Offerings Today

Stock News
Feb 27

Meig Smart Technology Co., Ltd. (03268) commenced its public offering from February 27 to March 5, intending to issue 35 million H shares globally. Estun Automation Co., Ltd. (02715) started its offering from February 27 to March 4, planning a global sale of 96.78 million H shares. Shenzhen Zhaowei Machinery & Electronics Co., Ltd. (02692) initiated its public offering from February 27 to March 4 and is expected to list on March 9. ALSCO POOLING (02649) also began its offering from February 27 to March 4, with a plan to issue 20.336 million H shares worldwide.

A subsidiary of NIO-SW (09866) entered into a final agreement for an investment of RMB 2.257 billion. Tanwan (09890) secured exclusive dual-platform operating rights for the game "Tian Long Bu Bu 2: Fei Long Zhan Tian" and acquired a stake in the game developer Shanghai Yuelong. Beken Corporation-B (02170) announced that its Geri embryo culture medium received a medical device registration certificate from the National Medical Products Administration.

In corporate actions, Xiaomi Group-W (01810) repurchased 2.8322 million shares for approximately HK$99.9968 million on February 26. Geely Automobile Holdings Limited (00175) bought back 3.841 million shares for HK$63.118 million on the same day. J&T Global Express Limited (01519) repurchased 1.556 million shares for about HK$15.646 million on February 26.

Regarding financial results, Baidu Group-SW (09888) reported fourth-quarter total revenue of RMB 32.7 billion, a 5% increase sequentially, with total orders for its Apollo Go service surging over 200% year-on-year. Hong Kong Exchanges and Clearing Limited (00388) announced its full-year performance, with profit attributable to shareholders reaching HK$17.754 billion, a 36% year-on-year increase. Sun Hung Kai Properties Limited (00016) disclosed its interim results, showing a profit attributable to shareholders of HK$10.247 billion, up 36.21% year-on-year. Galaxy Entertainment Group Limited (00027) released its annual results, with profit attributable to shareholders rising 22% to HK$10.7 billion.

Chow Tai Fook Enterprises Limited (00659) reported interim results, with profit attributable to shareholders growing 15% year-on-year to HK$1.3343 billion. BeiGene, Ltd. (06160) showed strong performance, with adjusted net profit reaching approximately $918 million, turning a profit compared to the previous year. Zai Lab Limited (09688) reported total revenue of $460.2 million for the year, a 15% increase, with significant progress in its global innovative pipeline. Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (02315) released a performance forecast, indicating net profit attributable to owners of the parent company grew 416.37% to RMB 173 million. CanSino Biologics Inc. (06185) issued a performance forecast, showing a net profit attributable to owners of RMB 27.8727 million, turning a profit year-on-year.

CLP Holdings Limited (00002) announced its annual results, with profit attributable to shareholders decreasing 10.85% to HK$10.468 billion. Zhenli New Energy (03677) expects its net profit to increase by up to eight times, reaching approximately RMB 680-820 million, significantly exceeding market expectations. Zhiyuan Holdings (00990) issued a profit alert, anticipating a net profit increase of about 126% to approximately HK$840 million.

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