Mininglamp Technology (2718.HK) has launched its Hong Kong IPO, with the subscription period running from October 23 to October 28. The company plans to globally issue 7,219,000 Class A shares, with a 15% over-allotment option. The offer price is HK$141.00 per share, with a board lot of 40 shares and a minimum investment of approximately HK$5,696.88. Trading is expected to commence on the Main Board of the Hong Kong Stock Exchange on November 3, with CICC (China International Capital Corporation) serving as the sole sponsor.

Mininglamp Technology: A Leading Data Intelligence Software Provider in China

Offering structure: Approximately 10% (721,920 shares) for the Hong Kong public offering, and 90% (6,497,080 shares) for the international placement.

Offer price: HK$141.00 per share; Board lot: 40 shares; Minimum investment: HK$5,696.88.

Offer period: October 23–28.

Listing date: November 3.

Sole sponsor: CICC.

Company Overview

Mininglamp Technology is a leading data intelligence application software provider in China, ranking No.1 by total revenue in 2024 among domestic peers. Leveraging its core technologies and industry insights, the company delivers data intelligence products and solutions that enhance marketing and operational decision-making through large models, industry knowledge, and multimodal data.

Financial Highlights

According to the prospectus, Mininglamp Technology recorded revenues of approximately RMB 1.269 billion, RMB 1.462 billion, and RMB 1.381 billion for 2022, 2023, and 2024 respectively, with corresponding net profits of RMB 1.638 billion, RMB 318 million, and RMB 8 million. For the first half of 2025, revenue reached about RMB 644 million, with a net loss of RMB 204 million.

At an offer price of HK$141.00 per share, and assuming the over-allotment option is not exercised, the company expects to raise net proceeds of approximately HK$902 million, which will be allocated as follows: 35% for technology R&D, 40% for product portfolio enhancement, 15% for sales and marketing expansion, and 10% for working capital and general corporate purposes.

uSMART launches “HK IPO Fee-Waiver Offer” – subscribe to new shares at zero cost

Margin subscription: 0 % interest, leverage up to 10×

Cash subscription: HK$0 handling fee

Grey-market trading supported

*0 % interest applies to margin subscription amounts of HK$10 million or below.

^ All handling fees are waived for cash subscriptions.

This promotion is effective from 20 May 2025 until further notice. Certain high-profile IPOs may be excluded. The actual interest rates and fees charged are those shown in the uSMART App subscription interface; statutory government and exchange levies will still apply. The company reserves the right to amend, suspend or terminate the above offer or its terms and conditions at any time without prior notice, and its interpretation shall be final.

How to Subscribe for Mininglamp via uSMART HK

The uSMART HK App features an IPO Centre with exclusive perks, allowing clients to subscribe instantly to new public offerings. After logging in, tap “Trade” at the bottom-right, select “IPO Subscription,” choose Mininglamp, tap “Public Offer,” enter the subscription quantity, and submit your order.

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