Han’s CNC Technology (Shenzhen) Co., Ltd.

Date of prospectus: January 29, 2026

Han’s CNC Technology IPO: In-Depth Investor Guide to Hong Kong’s Landmark 2026 Listing

IPO Snapshot: Key Details for Investors

Han’s CNC Technology (Shenzhen) Co., Ltd. (“Han’s CNC”) is launching its highly anticipated Hong Kong IPO, offering investors exposure to China’s precision CNC equipment and technology sector. The IPO is structured as a dual offering—Hong Kong Public Offering and International Offering—with a sizeable allocation to cornerstone investors.

• IPO Symbol: Not explicitly stated; H Shares to be listed on the Main Board of the Stock Exchange of Hong Kong Limited
• Offer Price: Maximum HK\$95.80 per H Share
• Total Offer Size: 50,451,800 H Shares (including 5,045,200 for the Hong Kong Public Offering and 45,406,600 for the International Offering)
• Over-allotment Option: Up to 7,567,700 additional H Shares (15% of base offer)
• Post-IPO Outstanding Shares: 475,960,952 (assuming no exercise of Over-allotment Option)
• Expected Listing Date: On or before March 31, 2026

**The Hong Kong Public Offering application period opens at 9:00 a.m. on January 29, 2026, and closes at 11:30 a.m. on February 3, 2026.** The Price Determination Date is expected to be on or around February 4, 2026.

Use of Proceeds: Funding for Growth and Strategic Expansion

**The IPO is fundamentally growth-driven.** Proceeds will be used for R&D, capacity expansion, working capital, and strategic investments. The exact breakdown by amount is not provided, but the focus on R&D and expansion signals an aggressive growth and market leadership strategy.

Investor Participation & Book Quality: Strong Institutional Backing

**Cornerstone Investors have committed US\$309.8 million (approx. HK\$2,416.0 million), demonstrating robust confidence in Han’s CNC.** Cornerstone investor names and commitments include:

• Hongxing International Technology Limited – US\$60,000,000
• GIC Private Limited – US\$90,000,000
• Schroder Investment Management (Singapore) Ltd and Schroder Investment Management (Hong Kong) Limited – US\$75,000,000

No cornerstone investor or their associates will become a substantial shareholder or obtain Board representation as a result of the IPO.

**No pre-listing disposals or sales by early investors are disclosed.** The scale and quality of cornerstone commitments suggest a high-quality book and potential for strong first-day performance.

Deal Parties & Structure: Top-Tier Syndicate and Robust Underwriting

Lead Deal Parties:

• Sole Sponsor / Sponsor-Overall Coordinator / Global Coordinator / Bookrunner / Lead Manager: China International Capital Corporation Hong Kong Securities Limited
• Other Joint Global Coordinators and Underwriters: Deutsche Bank AG, Hong Kong Branch; Sinolink Securities (Hong Kong) Company Limited; SDIC Securities (Hong Kong) Limited; ABCI Securities Company Limited

**The Hong Kong Public Offering is fully underwritten on a conditional basis. The International Offering is expected to be fully underwritten.** Stabilization/over-allotment (greenshoe) of up to 7,567,700 H Shares (15%) may be exercised to support post-listing trading.

Based on the syndicate’s composition and underwriting commitment, the deal structure supports potential for orderly listing-day performance.

Company Overview: A Leader in Precision CNC Technology

Business Model and Revenue Streams:

• Han’s CNC is a China-based leader specializing in CNC equipment, solutions, and services, with a diversified product range serving multiple downstream industries.
• Revenue is generated from sales of CNC machines, technology solutions, and related services.
• Customer segments include automotive, industrial, electronics, and other manufacturing sectors with a broad geographic footprint across China and international markets.

Industry Overview:

• Han’s CNC operates in the fast-growing CNC equipment and smart manufacturing sector, a key pillar of China’s industrial modernization strategy.
• Sector and market size data is referenced in the “Industry Overview” section, with Han’s CNC positioned among the top domestic players (exact market share/rankings not numerically stated in the summary).

Financial Health Overview:

**The company’s directors confirm no material adverse change to the financial or trading position up to January 29, 2026.**

Competitive Advantages:

• High-quality product offerings and R&D focus
• Diversified customer base
• Strong presence in key industrial segments in China

Management Team:

• Led by a Board of Directors with significant industry, technical, and managerial experience (detailed names and roles are disclosed in the “Directors and Senior Management” section)

Trends, Timing & Environment: Macro and Sectoral Tailwinds

Sector Trends: China’s CNC and smart manufacturing sector is experiencing robust demand driven by industrial upgrades, automation, and expansion in electronics and automotive manufacturing. Timing of the IPO: – Hong Kong Public Offering opens January 29, 2026, closes February 3, 2026 – Price Determination Date: February 4, 2026 – Expected Listing: On or before March 31, 2026 Economic Environment: The prospectus highlights ongoing industrial demand and supportive macro trends, though it notes competitive and cyclical risks.

Based on the disclosed sector momentum, IPO timing is aligned with a favorable market window for China’s industrial technology leaders.

Risk Factors: Key Exposures for Investors

**Investors should note several material risks:**

• Negative operating cash flow during the Track Record Period may affect ongoing operations and financial flexibility.
• Exposure to cyclical end-markets such as automotive and electronics—demand downturns in these could materially impact results.
• Highly competitive industry with rapid technological change; failure to innovate or keep pace could erode market position.
• Risks related to technology investments that may not generate expected returns.
• Liquidity, trading volume, and market price of H Shares may be volatile post-listing.
• Future financing could dilute shareholdings or introduce operational restrictions if debt is raised.
• Reliance on official statistics and third-party data, which have not been independently verified.
• Forward-looking statements are subject to market and operational uncertainties.
• Comprehensive details of related-party transactions, legal compliance, and regulatory matters are included in the relevant sections of the prospectus.

Growth Strategy: Aggressive Expansion and Innovation

**Han’s CNC’s growth agenda is focused on:**

• Continued R&D investment to sustain technology leadership and product innovation
• Capacity expansion to meet increasing market demand
• Pursuing new customer segments and international markets
• Potential strategic investments and partnerships

No M&A or capex pipeline figures/timelines are stated in the summary, but the company’s narrative and use of proceeds signal an innovation- and expansion-led growth trajectory.

Ownership & Lock-ups: Shareholding Structure and Incentive Schemes

Pre- and Post-IPO Shareholdings: – Post-IPO shares outstanding: 475,960,952 – No cornerstone investor or associate will become a substantial shareholder or gain Board seats from the Offer.

ESOPs and Incentives: – 2023 Restricted Share Incentive Scheme in place – 11,195,298 A Shares underlying outstanding share awards (2.35% of post-IPO issued shares)

Lock-ups: – The Company has agreed not to issue additional shares for six months post-listing without prior written consent from lead coordinators and unless compliant with Listing Rules.

Listing Outlook: Investment Case for Han’s CNC H Shares

**The Han’s CNC IPO stands out for its strong cornerstone demand, robust syndicate, and alignment with China’s industrial upgrade trends.** The company’s focus on R&D and expansion, combined with a high-quality institutional allocation and full underwriting, supports the case for a solid first-day performance and longer-term growth.

**Based strictly on the disclosed facts, the IPO appears attractive for investors seeking exposure to China’s advanced manufacturing sector.** Expectations are for a firm trading debut—potentially at or above offer price—supported by stabilization mechanisms and cornerstone lock-ups.

Prospectus Access

The full prospectus and related materials can be accessed at: www.hkexnews.hk and www.hanscnc.com

How to Apply for Han’s CNC H Shares

**Application Channels:** – HK eIPO White Form service (www.hkeipo.hk) – Brokers and custodians who are HKSCC Participants via FINI system – Application window: 9:00 a.m., January 29, 2026 – 11:30 a.m., February 3, 2026 **Eligibility:** – Applicants must be 18 or older, have a Hong Kong address (for eIPO), and not be existing shareholders, directors, or associates as per Listing Rules. **Application Steps:** – Review the prospectus at the above websites – Submit applications via designated online channels or brokers – Await allocation results, which will be posted at www.tricor.com.hk/ipo/result and www.hkeipo.hk/IPOResult