Jiang Bolong (09976) prospectus from August 31 to September 3 introduced cornerstone investors such as Communication and Lenovo

According to the Zhitong Finance App, Jiang Bolong (09976) will sell shares from August 31 to September 3, 2026. The company plans to sell 26.77,800 shares globally, of which Hong Kong sales account for 10% and international sales account for 90%. The maximum sale price is HK$240.60 per share, 50 shares per lot. It is expected that the shares will start trading on the Stock Exchange on September 8, 2026.

The company is an independent brand semiconductor memory manufacturer. The company purchases storage wafers and master control chips from IDM and master control chip suppliers, and is not engaged in wafer manufacturing. Based on the company's ability to cover main control chip and memory chip design, firmware development, and back-end manufacturing (including system-level packaging, testing and assembly), the company designs, develops, back-end manufacturing and sells a complete storage product portfolio for consumer, enterprise and industrial grade applications. In 2025, the company held 1.2% of the global storage products market. Given the size of the industry, this share is significant for independent storage companies. According to Insight Consulting, in terms of revenue from storage products in 2025, the company is the ninth largest memory manufacturer in the world, the second-largest independent semiconductor memory manufacturer among more than 100 global market participants, and the largest independent memory manufacturer among more than 30 market participants in China. The company currently owns and operates three major brands: FORESEE, Zilia and Lexar. Each brand targets different customer groups and enjoys high popularity in their respective markets. These achievements, combined with the company's strong global presence and strong brand and product portfolio, highlight the company's key role in the semiconductor storage industry as a whole.

The Company has integrated with Communication International Limited, Yufeng Financial Group Limited (“Yufeng”), CITIC Securities Asset Management (Hong Kong) Limited (“CITIC Asset Management Hong Kong”, a wholly-owned subsidiary of CITIC Securities (600030.SH/6030.HK)), Admiralty Harbour Growth Opportunities SPC SP1 (“AHGO SPC”), Lenovo Group (00992.HK), Lansi Technology (Hong Kong) Limited (“Lansi Technology Hong Kong”), Beijing Junzheng Circuit (Hong Kong) Group Limited (“Hong Kong Junzheng”, a wholly-owned subsidiary of Junzheng Co., Ltd. (300223.SZ/3223.HK)), Juyuan (Hong Kong) International Limited (“Juyuan International”), Qicaihong Technology Co., Ltd. (“Hong Kong Hongxinyu”), Huadeng Tech Investment Bright Ltd (“Huadeng Technology”), Wind Sabre Fund SPC (” “Wind Sabre”), Hong Kong Evergreen Technology Co., Ltd. (“Evergreen Technology”), and Huaxida Technology (Hong Kong) Limited (“Huaxida Hong Kong”, a wholly-owned subsidiary of Huaxida (00901.HK)) entered into a cornerstone investment agreement to subscribe or induce designated entities to subscribe the relevant number of shares to be purchased at the offering price, for a total amount of approximately US$151 million (or approximately HK$1,185 million). Based on the offering price of HK$240.60 per H share (i.e. the highest sale price), the total number of shares to be purchased by Cornerstone Investors is 4,926,500,000 H shares.

Assuming that the offer price was HK$240.6 per share (the highest offering price), and assuming that the right to adjust the sale volume and over-allotment rights are not exercised, the company estimates that the net proceeds from the global offering will be approximately HK$6.02 billion. The company intends to use the net proceeds from the global sale for the following purposes and amounts, subject to changes in response to the company's changing business needs and market conditions: (a) approximately 78.3% will be used to enhance the company's independent R&D and innovation capabilities in key areas (including chip design and advanced storage product development); (b) approximately 11.7% will be allocated as strategic investments and/or acquisitions to further strengthen the company's overall competitive position; and (c) approximately 10% will be used for working capital and other general corporate purposes.