Today, on September 27, the Hong Kong Stock Exchange has commenced public offerings for two equities: Taimed Medical Technology (02576.HK) and Rongli Construction (09639.HK). The uSMART HK App has established a dedicated Initial Public Offering (IPO) center, facilitating real-time subscription of newly issued shares through the application.

Taimed Medical Technology (02576.HK)

Taimed Medical Technology initiated its public offering from September 27 to October 3, with the objective of globally issuing approximately 22.417 million shares. Around 10% of these shares are earmarked for public offering in Hong Kong, with pricing set between HK$10 and HK$13 per share, a board lot comprising 200 shares, and an entry fee of HK$2,626.2 per board lot. The fundraising goal is set at up to HK$290 million, and trading is anticipated to commence on October 8, 2024 (Tuesday) at 9:00 a.m. on the Stock Exchange of Hong Kong. Morgan Stanley and CICC are acting as joint sponsors for this endeavor.

Specializing as a digital solutions provider within the pharmaceutical and medical equipment sector in China, Taimed Medical Technology focuses on designing and delivering industry-specific software and digital services to support the research and marketing of pharmaceuticals and medical equipment. Revenue streams predominantly originate from the sale of cloud software, encompassing Software as a Service (SaaS) and customized products, in conjunction with associated technical support. Additionally, the company provides digital services, chiefly comprising digital clinical research services and IRC services. With revenues amounting to RMB 570 million in the previous year, reflecting a 4.4% annual upsurge, the company observed a 16% reduction in attributable net loss, which narrowed to RMB 350 million.

In terms of the funds procured, approximately 35% will be allocated towards optimizing and enhancing the TrialOS platform, PharmaOS platform, and their respective cloud software and digital services. Another 30% will be directed towards bolstering core technology and research and development capabilities, 10% for fortifying sales and marketing competencies, 15% for selectively exploring strategic investments and acquisitions intended to expand existing product and service categories, broaden the customer base, and enhance technological capacities, and the remaining 10% for working capital and general corporate purposes.

Rongli Construction (09639.HK)

Rongli Construction's public offering spans from September 27 to October 4, with the company aiming to globally issue 250 million shares. Of this total, 10% are designated for public offering in Hong Kong, 90% for international placement, and an additional 15% for over-allotment options. Priced between HK$0.57 and HK$0.73 per share, with a board lot consisting of 5,000 shares and an entry fee of HK$3,686.79 per board lot. The maximum fundraising target stands at HK$183 million, and the listing is projected to transpire on October 9, 2024 (Wednesday) on the Hong Kong Stock Exchange, with Tanren Finance Limited serving as the exclusive sponsor.

The company, a substantial Hong Kong-based contractor, engages in civil and cable engineering as well as solar photovoltaic system engineering. Financially, Rongli Construction reported total revenues of HK$520 million, HK$361 million, and HK$526 million in the fiscal years 2021/22, 2022/23, and 2023/24, respectively, accompanied by corresponding net profits of HK$59.055 million, HK$40.565 million, and HK$76.9074 million during the same periods.

Regarding the utilization of the funds raised, Rongli Construction has outlined a clear plan: 45% for expanding power machinery and equipment, 35% for covering preliminary costs of new projects, 5% for hiring additional staff, and 5% for acquiring 4S systems and enterprise resource planning systems. Through this IPO financing initiative, Rongli Construction aims to enhance its capabilities and establish a solid foundation for future business expansion.

You can subscribe for new Hong Kong/US shares at uSMART HK：

uSMART HK App is a special IPO center where customers can subscribe for public offerings immediately through the App.

Three reasons to choose uSMART HK to subscribe for New shares:

• Low fee: Subscription fee can be as low as $0
• Dark trading: uSMART supports dark trading with commissions as low as 0.05%, with a minimum commission of HK $12 per order
• Safe and reliable: independent custody of assets, Hong Kong double data center encrypted data transmission, to ensure the security of assets and data