IPO News | Nason Technology (02261) Closes IPO Margin Subscription by HK$105.9 billion, over 1,644 times

The Zhitong Finance App learned that Nassen Technology (02261) offered shares from July 30, 2026 to August 4, 2026. As of noon on August 4, brokerage firms such as Futu, Phillip, and Tiger had lent a total of HK$105.946 billion to Nassen Technology. Based on the amount raised of HK$643.9 billion, the margin overpurchase ratio was 164.434 times.

Nason Technology plans to sell 57.5945 million H shares globally, with the Hong Kong public offering accounting for about 10%, international sales accounting for about 90%, and an additional 15% over-allotment rights. The offering price is HK$10.42 to HK$11.18 per share, with 100 shares per lot. It is expected that H shares will start trading on the Hong Kong Stock Exchange at 9:00 a.m. on August 7, 2026.

According to the prospectus, Nassen Technology is developing motion control technology for intelligent driving and currently provides line-controlled motion solutions. The company focuses on providing mission-critical line control solutions for intelligent driving. The company's solutions integrate full-stack self-developed control algorithms, software and hardware.

According to Insight Consulting, the company is: the first company in China to apply electronic control power solutions (NBS solutions) to commercial operation of L4 class driverless cars; the first Chinese company to supply autonomous electric vehicle OEMs (NBS solutions) to leading domestic electric vehicle OEMs; and the second largest domestic independent third-party line control solution supplier in China based on the 2025 line control solution sales volume.

On the financial side, in the three months ending March 31 in 2023, 2024, 2025, and 2026, the company achieved revenue of about 272 million yuan (RMB, same below), 391 million yuan, 615 million yuan, and 151 million yuan respectively; in the same period, it recorded annual losses of about 201 million yuan, 170 million yuan, 190 million yuan, and 54.882 million yuan, respectively.