Lead Intelligent Equipment Co., Ltd. (WUXI LEAD INTELLIGENT EQUIPMENT CO., LTD., 0470.HK) has launched its IPO on the Hong Kong Stock Exchange. The offering period is from February 3 to February 6, 2026, with a global offering of 93,616,000 H-shares, including a 15% over-allotment option. The maximum offer price is HK$45.80 per share, with a board lot of 100 shares, and an entry fee of approximately HK$4,624.24. The company is expected to list on the Main Board of the Hong Kong Stock Exchange on February 11, 2026. CITIC Securities and J.P. Morgan are the joint sponsors.

Lead Intelligent: The World's Largest Lithium Battery Intelligent Equipment Supplier

Offering Breakdown:

Hong Kong Public Offering: Approximately 10% (9,361,600 shares)

International Offering: Approximately 90% (84,254,400 shares)

Maximum Offer Price: HK$45.80 per share

Board Lot: 100 shares

Entry Fee: Approximately HK$4,624.24

Offering Period: February 3 to February 6, 2026 (Expected Pricing Date: February 9, 2026)

Listing Date: February 11, 2026

IPO Sponsors: CITIC Securities, J.P. Morgan

Company Overview

Lead Intelligent Equipment is an intelligent equipment enterprise that provides smart equipment and solutions for emerging industries, including lithium batteries, photovoltaics, 3C manufacturing, and intelligent logistics. According to data from Frost & Sullivan, the company is the largest global supplier of lithium battery intelligent equipment, with a market share of 15.5% in 2024. It is also the second-largest global supplier of new energy intelligent equipment. Lead Intelligent has established extensive cooperation with industry-leading companies such as CATL, Tesla, LG Energy, and BMW.

Financial Information

According to the prospectus, Lead Intelligent Equipment's revenue for 2022–2024 was approximately RMB 13.836 billion, RMB 16.483 billion, and RMB 11.773 billion, respectively. Net profit for the same periods was about RMB 2.318 billion, RMB 1.771 billion, and RMB 268 million. For the nine months ending September 30, 2025, the company reported revenue of RMB 10.388 billion and net profit of RMB 1.161 billion.

At the maximum offer price of HKD 45.80 per share, and assuming no exercise of the over-allotment option, the company expects to raise a net amount of approximately HKD 4.166 billion. The funds raised will be used for global expansion of research, sales, and service networks (40%), deepening platform strategy to expand the new energy intelligent equipment product portfolio (30%), product design and manufacturing process optimization (10%), enhancing digital infrastructure (10%), and supplementing working capital (10%).

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* 0 % interest applies to margin subscription amounts of HK$20 million or below.

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This promotion is effective from 5 December 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 Lead Intelligent via uSMART HK

The uSMART HK App features an IPO Centre with exclusive perks, allowing clients to subscribe instantly to public offerings. After logging into the app, tap "Trade" at the bottom-right, go to "IPO Subscription," select Lead Intelligent, tap "Public Offer," enter your subscription quantity, and submit your order.

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