Huanchuang Technology (06802) plans to sell 11.5888 million shares globally and is expected to be listed on September 30

According to the Zhitong Finance App, Huanchuang Technology (06802) will raise shares from September 22, 2026 to September 25, 2026. It plans to sell 11.588 million H shares globally. The Hong Kong public sale accounts for about 10%, the international sale accounts for about 90%, and the additional 15% over-allotment rights. The offer price was HK$58.85 per share offered. Each lot is 100 shares. H shares are expected to start trading on the Stock Exchange at 9:00 a.m. on September 30, 2026.

According to reports, the company is committed to developing space-sensing products and is focusing on the application field of sweeping robots. Using AI technology, the company has built an intelligent spatial sensing system to provide algorithms and hardware for sweeping robots. Since its establishment, the total shipment volume has exceeded 39 million units. In 2025, total shipments of lidar and linear laser sensors will exceed 10 million units and 5 million units respectively. This highlights the company's market position in spatial sensing technology, and also confirms that the company's products are in strong demand in the field of spatial sensing for sweeping robots.

During the track record period, the company's revenue increased from RMB 332.1 million in 2023 to RMB 613.5 million in 2025, with a compound annual growth rate of 35.9%, and further increased from RMB 131.8 million for the three months ended March 31, 2025 to RMB 195.9 million for the three months ended March 31, 2026. At the same time, the company achieved net profit of RMB 2.2 million and RMB 7.8 million for the three months ended March 31, 2026, respectively.

Assuming that the over-allotment rights were not exercised and that the sale price was HK$58.85 per share, the net proceeds from the global sale would be approximately HK$615.4 million. Of this, approximately 65.0% of the net proceeds will be used to enhance R&D capabilities to strengthen research and development of core technology and sensor products. Approximately 25.0% of the net proceeds will be used to increase manufacturing capacity. Approximately 10.0% of the net proceeds will be used for working capital and general corporate purposes.

In addition, the company has entered into a Cornerstone Investment Agreement with Cornerstone Investors. According to this, Cornerstone Investors have agreed to subscribe for the relevant number of shares that can be purchased at the sale price, subject to certain conditions, for a total amount of approximately HK$110 million. Cornerstone investors include: Golden Link Worldwide Limited (Golden Link, whose shares are BYD (H.K.), a wholly-owned subsidiary of BYD Co., Ltd. (01211.HK,002594.SZ) Co., Limited wholly owned), Taiwan Zhongrun Optoelectronics Co., Ltd. (Taiwan Zhongrun, a wholly-owned subsidiary of Jiaxing Zhongrun Optical Technology Co., Ltd. (688307.SH)).