Shenzhen Hipine Precision Technology Co., Ltd. (02583.HK) has officially launched its Hong Kong IPO, with the subscription period running from September 19 to September 24. The company plans to globally issue approximately 10,600,000 H shares, with a 15% overallotment option. The offer price ranges between HK$27.0 and HK$29.6 per share, with a board lot size of 100 shares and a minimum investment cost of about HK$2,989.85. Trading on the Main Board of the Hong Kong Stock Exchange is expected to commence on September 29. Ping An Capital (Hong Kong) Company Limited acts as the sole sponsor.

Hipine: China’s Leading Gold Watch Brand

Offering Structure: Approximately 10% for the Hong Kong public offering (1,060,000 shares) and 90% for international placement (9,540,000 shares).

Offer Price: HK$27.0–29.6 per share; 100 shares per lot; entry fee of about HK$2,989.85.

Offering Period: September 19–24 (with pricing results expected on September 25).

Listing Date: September 29.

IPO Sponsor: Ping An Capital (Hong Kong) Company Limited.

Company Profile

Hipine is a Chinese designer, manufacturer, and brand owner of gold watch cases and gold bezel watches. Its flagship brand “HIPINE” and sub-brand “GOLDBEAR” focus on the mass market, supported by an extensive distribution network of over 3,000 retail outlets nationwide and online e-commerce platforms. The company also maintains long-term ODM partnerships with well-known jewelry brands such as Lao Feng Xiang, China Gold, and Chow Tai Sang. Since 2023, Hipine has expanded into retail and supermarket channels, while also actively developing smartwatches and overseas markets.

Financial Information

According to the prospectus, Hipine recorded revenues of approximately RMB 264 million, RMB 445 million, and RMB 457 million from 2022 to 2024, with net profits of RMB 24.54 million, RMB 52.10 million, and RMB 49.35 million, respectively. For the first five months of 2025, revenue reached about RMB 231 million, with net profit of RMB 42.8 million. Based on the mid-point offer price of HK$28.3 per share and assuming no clawback or overallotment option, the company expects to raise net proceeds of about HK$2.80 billion. Funds will be allocated as follows: approximately 50% for brand building and sales channel expansion, 20% for R&D and manufacturing upgrades, 20% for overseas expansion, and 10% for working capital.

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 Hipine Connect 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 Hipine Connect, tap “Public Offer,” enter the subscription quantity, and submit your order.

(Image source: uSMART HK app)