Company: Beijing 51WORLD Digital Twin Technology Co., Ltd.
Date of Prospectus: December 18, 2025

Beijing 51WORLD Digital Twin Technology Co., Ltd. IPO: Deep Dive into the 2025 Hong Kong Listing, Offer Structure, and Investor Outlook

IPO Snapshot: Key Details of Beijing 51WORLD’s Hong Kong Offering

Beijing 51WORLD Digital Twin Technology Co., Ltd. is launching its highly anticipated initial public offering (IPO) on the Main Board of The Stock Exchange of Hong Kong. This listing represents a milestone for the company, a major player in digital twin technology, and offers investors access to one of China’s most innovative tech firms.

• IPO Symbol: 6651
• Offer Price: HK\$30.5 per H Share
• Total Offer Size: 23,975,200 H Shares (subject to over-allotment)
• Hong Kong Offer Shares: 1,198,800 H Shares (subject to reallocation)
• International Placing Shares: 22,776,400 H Shares (subject to reallocation and the Over-allotment Option)
• Nominal Value: RMB1.00 per H Share
• Stock Code: 6651

Offer price includes: brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565%, and AFRC transaction levy of 0.00015% (payable in full on application in Hong Kong dollars and subject to refund) [[2]].

Offer Structure: Public and International Placement Details

The IPO is structured as a dual-tranche offering:

• Hong Kong Public Offering: Initially 1,198,800 H Shares (5% of total offer), subject to reallocation.
• International Placing: Initially 22,776,400 H Shares (95% of total offer), subject to reallocation and over-allotment option.

Reallocation Mechanisms: If the Hong Kong Public Offering is oversubscribed by 10 times or more, the tranche increases to 2,397,600 shares (10%). If oversubscribed by 50 times or more, it increases to 4,795,200 shares (20%). Additional shares are allocated between Pool A and Pool B at the discretion of the Overall Coordinators [[5]].

Use of Proceeds: Growth, Expansion, and Strategic Investment

Funds raised from the IPO are earmarked for:

• Expansion of business operations and growth initiatives
• Potential research and development (R&D) investments
• General working capital
• Other strategic purposes as deemed appropriate by the company

Overall, the use of proceeds suggests a growth-driven strategy aimed at strengthening market position and technological leadership.

Pricing, Application Period, and Listing Dates

Offer Price: HK\$30.5 per share, fixed unless otherwise announced [[6]].
Application Window: Opens 9:00 a.m. December 18, 2025; closes 12:00 noon December 23, 2025 (Hong Kong time).
Listing Date: Dealings in H Shares commence at 9:00 a.m. on Tuesday, December 30, 2025.
Board Lot Size: 200 H Shares per lot [[8]].

Investor Participation and Book Quality

Multiple tranches and pools: The offering features Pool A and Pool B allocations. Oversubscription triggers automatic reallocation mechanisms to ensure retail investor access. Institutional investors are expected to participate via the International Placing, with allocation subject to demand [[5]].

Stabilization Mechanism: China International Capital Corporation Hong Kong Securities Limited acts as Stabilization Manager, authorized to conduct market stabilization for up to 30 days post-listing [[1]].

Book quality appears robust, supported by:

• Flexibility to reallocate shares in case of strong demand
• Presence of top-tier sponsors and underwriters
• Stabilization arrangements enhancing post-listing price support

Deal Parties and Offer Structure

Joint Sponsors, Overall Coordinators, Joint Global Coordinators, Joint Bookrunners, and Joint Lead Managers:

• China International Capital Corporation Hong Kong Securities Limited (Stabilization Manager)
• Other parties named as Overall Coordinators, Joint Bookrunners, and Joint Lead Managers (full list on prospectus cover) [[2]]

Stabilization & Over-Allotment (Greenshoe): Over-allotment option available, and stabilization actions may be taken for up to 30 days post-offer, subject to market conditions and regulatory compliance. Stabilization is discretionary and may be discontinued at any time [[1]].

Company Overview: Business Model and Market Position

Beijing 51WORLD Digital Twin Technology Co., Ltd. operates at the forefront of digital twin technology, providing advanced simulation, visualization, and modeling solutions. The company’s business model centers on leveraging proprietary technology to serve key sectors such as urban planning, transportation, and industrial operations.

• Key Products/Services: Digital twin platforms, simulation software, data visualization solutions
• Monetization: Licensing, project-based contracts, and SaaS offerings
• Customer Segments: Government agencies, enterprises, infrastructure operators
• Geographic Reach: Primarily China, with potential for international expansion

Management Team: Led by Mr. Li Yi (Chairman of the Board, Executive Director), alongside executive directors Mr. Wang Chenkang, Ms. Zhang Yuwei, Ms. Tong Shan, and Ms. Pu Ge. Non-executive director: Mr. Lyu Jinrong. Independent non-executive directors: Mr. Li Pan, Mr. Lin Chen, Mr. Zhang Lening [[11]].

Financial Health and Performance

Key financial metrics: (If provided in prospectus, would be presented below. Not disclosed in the sections provided.)

Market Position and Competitive Advantages

Beijing 51WORLD positions itself as a technology leader with proprietary digital twin platforms. Its competitive edge is derived from a robust R&D base, strategic partnerships, and a broad client portfolio in urban infrastructure and industry verticals.

• Recognized brand in China’s digital twin sector
• Broad-based customer relationships
• Technology-driven product differentiation

Trends, Timing, and Market Environment

Sector Trends: The digital twin industry is experiencing rapid growth, driven by urbanization, smart city initiatives, and digital transformation across sectors. Demand for simulation and modeling solutions continues to rise.

Timing of the IPO: Application period: December 18–23, 2025. Listing: December 30, 2025. The company’s listing coincides with ongoing sector momentum and favorable macro conditions as described in the prospectus [[6][8]].

Recent Developments: The company has positioned itself for expansion, leveraging the IPO as a springboard for further growth and innovation. No adverse sector developments reported in the prospectus.

Market Conditions: The prospectus suggests a supportive environment, with stabilization mechanisms and strong sponsor involvement enhancing confidence for first-day trading.

Risk Factors: Quantified Exposures and Mitigations

Key risks disclosed in the prospectus include:

• Market volatility post-stabilization period (price may fall after stabilization ends)
• Regulatory compliance across jurisdictions (adherence to Securities and Futures Ordinance)
• Potential for offer termination if specified events occur before listing (see “Underwriting” risks)
• Investors trading before receipt of H Share certificates do so at their own risk

No specific quantified exposures or breakdowns provided in the available sections.

Growth Strategy: Expansion, Innovation, and Market Penetration

Growth strategy centers on:

• Investment in R&D to maintain technology leadership
• Expansion of business operations and client base
• Exploration of new product offerings and market segments
• Potential international expansion, leveraging platform scalability

Timelines and concrete expansion figures to be determined post-IPO, as funds are allocated.

Ownership Structure and Lock-ups

Pre- and Post-IPO Shareholding: Details on major shareholders, promoter holdings, and lock-in periods not provided in the sections of the prospectus available. ESOPs and employee allocations not specified.

Valuation and Peer Comparison

Multiples, peer company symbols, and direct comparisons: Not disclosed in the available prospectus sections.

Research Coverage and Analyst Opinions

No explicit analyst coverage, price targets, or institutional opinions disclosed in the available sections.

IPO Allotment Results

Allocation and subscription outcomes: The company will announce the basis of allocation, level of interest in the International Placing, and results of the Hong Kong Public Offering by 11:00 p.m. on December 29, 2025. Results will be available on the Stock Exchange’s website and the company’s site from December 29, 2025 to January 4, 2026. Applicants can check results using identification document numbers or through brokers/custodians [[7]].

Listing Outlook: Performance Expectations and First-Day Prospects

Based strictly on disclosed facts, the IPO appears well-supported:

• Strong sponsor and bookrunner participation
• Effective stabilization and over-allotment mechanisms
• Clawback structure to ensure retail investor access
• Growth-oriented use of proceeds and sector momentum

Inferred estimate: First-day trading is likely to be robust, with a trading range at or above the offer price, supported by stabilization actions and institutional demand. The presence of oversubscription mechanisms suggests potential for sharp listing-day interest, particularly if retail and institutional demand are strong [[5][1]].

Prospectus Access: Where to Find Official Information

Full details, announcements, and documentation are available at:
www.hkexnews.hk
https://51world.com.cn/

How to Apply for Shares: Channels, Steps, and Eligibility

Application Channels:

• HK eIPO White Form service: www.hkeipo.hk (for physical H Share certificates in applicant’s own name)
• HKSCC EIPO Channel: Application via broker or custodian who is a HKSCC Participant; shares allotted in the name of HKSCC Nominees and deposited into CCASS [[9]].

Application Window: December 18, 2025, 9:00 a.m. to December 23, 2025, 12:00 noon (Hong Kong time).
Minimum Application: 200 shares; amounts payable per application tier specified in the prospectus [[4]].

No physical application channels will be provided. The electronic application process is fully adopted for the Hong Kong Public Offering [[3]].