Shanghai Biren Technology Co., Ltd.

Date of Prospectus: December 22, 2025

Shanghai Biren Technology’s Blockbuster 2026 Hong Kong IPO: Key Insights, Investment Case, and Listing Outlook

IPO Snapshot

Shanghai Biren Technology Co., Ltd. is launching a highly anticipated initial public offering (IPO) on the Hong Kong Stock Exchange, targeting tech-focused investors and market participants. This offering stands out for its scale, structure, and fully electronic application process, making it one of the most notable IPOs of the season.

• IPO Symbol: 6082
• Offer Price Range: HK\$17.00 to HK\$19.60 per H Share (maximum price payable on application: HK\$19.60)
• Total Offer Size: 247,692,800 H Shares (subject to Offer Size Adjustment Option and Over-allotment Option)
• Hong Kong Public Offer Shares: 12,384,800 H Shares (subject to reallocation)
• International Offer Shares: 235,308,000 H Shares (subject to reallocation, Offer Size Adjustment and Over-allotment Options)
• Post-IPO Outstanding Shares: Inferred to be at least 247,692,800 H Shares, potentially up to 284,846,600 H Shares with full exercise of adjustment options
• Nominal Value: RMB0.02 per H Share

Use of Proceeds

The prospectus does not provide an exact breakdown of use of proceeds. However, the structure and scale of the offering, alongside the emphasis on technology and innovation, suggest a growth-driven capital raise focused on expansion and potentially research & development. This is inferred from the offering structure and sector positioning [[2]], [[6]].

Oversubscription Metrics

Specific subscription levels (retail/institutional) and oversubscription multiples are not disclosed. Investors are advised to monitor allocation announcements for real-time demand signals [[8]], [[10]].

Dividend Policy

No dividend policy or payout ratio targets are stated in the prospectus. Investors should not expect a formal dividend commitment at IPO launch [[2]].

Placement and Issuance Breakdown

• Public Offering: 12,384,800 H Shares (approximately 5% of total offer)
• International Offering: 235,308,000 H Shares (approximately 95% of total offer)
• Potential Reallocation: Up to 24,769,600 H Shares under Hong Kong Public Offering (double initial allocation) if demand warrants [[5]]
• Offer Size Adjustment Option: Up to 37,153,800 additional H Shares (15% of initial offer size) for excess demand in International Offering [[6]]
• Over-allotment Option (Greenshoe): Up to 37,153,800–42,726,800 additional H Shares, depending on option exercise [[7]]

Investor Participation and Book Quality

• Anchor/Institutional Investors: Not named in the prospectus
• Tranche Allocations: Hong Kong Public and International tranches as above
• Pre-listing Sales/Disposals: Not disclosed
• Book Quality Assessment: The provision for significant over-allotment and adjustment options suggests expectations of strong institutional demand, supporting potential first-day performance [[7]]

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, plus other named parties (full list shown in the original announcement header) [[2]]
• Stabilization: China International Capital Corporation Hong Kong Securities Limited will act as Stabilizing Manager, empowered to support the H Share price for up to 30 days post-listing [[1]], [[3]]
• Over-allotment and Offer Size Adjustment: Structure allows for substantial flexibility in allocation and price support, indicating robust institutional engagement [[6]], [[7]]

Company Overview

Shanghai Biren Technology Co., Ltd. is a joint stock company incorporated in the People’s Republic of China with limited liability. The company is positioned in the technology sector, with a stated focus on innovation and growth. Key management team members include Zhang Wen (Chairman, CEO), Hong Zhou, Zhang Linglan, Xiao Bing, Pan Luting (executive Directors), Liu Jingguo (non-executive Director), and Wang Yuan, Lam Siu Wing, Liu Jin (independent non-executive Directors) [[11]].

No further breakdown of business model, revenue streams, or key products/services is provided in the prospectus. Similarly, geographic coverage and customer segments are not detailed.

Financial Health

Financial metrics and detailed breakdowns (revenue, profit, margins, cash flow, debt, capex, etc.) are not disclosed in the available prospectus sections. Investors are advised to consult the full prospectus for audited figures.

Market Position and Management Strength

• Management Team: Led by Zhang Wen (Chairman, CEO), with a board including experienced executive, non-executive, and independent directors [[11]]
• Competitive Advantages: The prospectus highlights innovation focus; further details on brand strength, market share, or competitive positioning are not provided.

Trends, Timing, and Market Environment

The IPO period is set for December 22–29, 2025, with expected listing and trading commencing January 2, 2026. The fully electronic application process and capacity for over-allotment reflect market modernization and high investor demand [[3]], [[7]], [[8]], [[11]].

• Sector and Regional Trends: Not explicitly described, but timing and structure suggest a favorable market environment for technology listings.
• Macroeconomic Indicators: Not included.
• Recent Company/Sector Developments: Not disclosed.

Conclusion: The structure and timing of the IPO indicate confidence in market conditions and demand for tech sector securities.

Risk Factors

• Market Price Volatility: Stabilization measures are in place for up to 30 days, but the price may fall after this period [[3]]
• Termination Rights: The underwriting agreement may be terminated for specific events prior to listing [[3]]
• Other Risks: No quantification or detailed breakdown of risk exposures in the available sections

Growth Strategy

• Expansion Plans: Inferred to be growth-oriented, with large offer size and adjustment options in place to capture excess demand [[6]], [[7]]
• New Products, M&A, Capex Pipeline: Not detailed in prospectus

Ownership & Lock-ups

• Pre- and Post-IPO Shareholding Structure: Not disclosed; based on offer structure, public float will be significant
• Promoter/Major Shareholder Holdings: Not stated
• Lock-in Periods: Not mentioned
• ESOPs: Not described

Valuation and Peer Comparison

Comparable company metrics, peer symbols, and sector valuation data are not disclosed in the prospectus.

Analyst Coverage and Opinions

No analyst price targets or formal opinions are included.

IPO Allotment Result

• Allocation Results: Will be published on December 31, 2025, via www.hkexnews.hk, www.birentech.com, and designated result websites [[8]], [[10]]
• Successful Applicants: Identification document numbers will be published for transparency
• Implications for Listing Day: Timely publication and a fully electronic process should support efficient price discovery and allocation

Listing Outlook

Based on the scale, structure, electronic application process, over-allotment provisions, and stabilization mechanisms, the IPO appears robust and likely to attract high investor interest. The listing-day price is expected to be well-supported, with a probable trading range close to or above the offer price, at least during the stabilization period. Demand-side flexibility and sponsor quality further reinforce the case for a strong debut, barring unforeseen market events.

Prospectus Access

Investors can obtain the full prospectus at: www.hkexnews.hk and www.birentech.com

How to Apply

Application Channels:

• HK eIPO White Form service via www.hkeipo.hk for physical certificates
• HKSCC EIPO channel: Through brokers/custodians who are HKSCC Participants; shares credited to CCASS accounts

Application Window:

• Start: 9:00 a.m., Monday, December 22, 2025
• End: 12:00 noon, Monday, December 29, 2025

Applicants must pay in full for the number of shares selected, according to the tiered application table provided. Minimum application: 200 shares. Results and refunds will be managed electronically; no physical application channels are available [[3]], [[4]], [[9]], [[10]].