Shanghai Zhida Technology Development Co., Ltd. (2650.HK), a leading new energy enterprise, has launched its Hong Kong IPO. The subscription period runs from September 30 to October 6, 2025, with a proposed global offering of approximately 5,978,900 H-shares, including a 15% over-allotment option. The indicative offer price is set between HK$66.92 and HK$83.63 per share, with a board lot of 50 shares, bringing the minimum investment amount to about HK$4,223.68. Listing on the Main Board of the Hong Kong Stock Exchange is expected on October 10, 2025. Shenwan Hongyuan Financing (Hong Kong) Limited serves as the sole sponsor.

Zhida Technology: China’s Leading Residential EV Charging Pile Provider

Offering structure: Hong Kong public offering of approximately 597,900 shares (about 10%), international placing of around 5,381,000 shares (about 90%).

Offer price: HK$66.92 – HK$83.63 per share; 50 shares per board lot; minimum investment about HK$4,223.68.

Subscription period: September 30 – October 6, 2025 (expected pricing date: October 8).

Listing date: October 10, 2025.

IPO Sponsor: Shenwan Hongyuan Financing (Hong Kong) Limited.

Company Overview

Zhida Technology specializes in home charging solutions for new energy vehicles. Its core business includes the R&D, manufacturing, sales, and installation of smart residential charging piles and related accessories. The company holds a leading position in China and is gradually expanding its presence overseas. According to Frost & Sullivan, Zhida accounted for 13.6% of China’s residential EV charging pile sales in terms of market share and 9.0% globally, making it an industry leader.

Financial Information

According to the prospectus, Zhida Technology recorded revenues of RMB 697 million, RMB 671 million, and RMB 593 million in 2022, 2023, and 2024, respectively, while reporting net losses of RMB 25.1 million, RMB 58.1 million, and RMB 236 million during the same periods. In Q1 2025, revenue reached RMB 217 million, with a net loss of RMB 17.1 million. Based on the median offer price of HK$75.27 and assuming no clawback or over-allotment option, the company expects to raise net proceeds of approximately HK$450 million. The funds will be primarily used for expanding charging pile production capacity and upgrading smart manufacturing (about 50%), R&D and digital platform development (about 20%), strengthening sales and channel expansion (about 20%), and replenishing working capital (about 10%).

uSMART IPO Promotion

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 Zhida Technology 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 Zhida Technology, tap “Public Offer,” enter the subscription quantity, and submit your order.

(Image source: uSMART HK App)