Beijing Haizhi Technology Group Co., Ltd.

Date of Prospectus: February 5, 2026

Beijing Haizhi Technology Group IPO: Robust Demand, Strategic Investors, and Strong Market Debut Anticipated

IPO Snapshot: Key Facts and Offer Structure

Beijing Haizhi Technology Group Co., Ltd. is set to debut on the Hong Kong Stock Exchange with its H-share initial public offering, presenting a compelling opportunity in the Chinese technology sector. The company’s H-shares will trade under the stock code 2706.

• Offer Price: HK\$27.06 per H Share
• Total Offer Size: 28,030,200 H Shares
• Number of Hong Kong Offer Shares: 2,803,200 (10% of total)
• Number of International Offer Shares: 25,227,000 (90% of total)
• Post-IPO Outstanding Shares: 400,430,680
• Gross Proceeds: HK\$758.5 million
• Estimated Net Proceeds: HK\$655.4 million (after HK\$103.1 million in listing expenses)
• IPO Symbol: 2706
• Listing Date: February 13, 2026

Dividend policy, payout ratios, and peer symbols are not disclosed in the prospectus.

Use of Proceeds: Funding Growth and Strategic Expansion

The company’s net proceeds of HK\$655.4 million are designated for:

• Future plans and use of proceeds as outlined in the official offer documentation
• Categories such as R&D, expansion, and working capital are suggested (exact breakdowns available in the prospectus’s “Future Plans and Use of Proceeds” section)

This allocation signals a strong growth orientation as proceeds are steered towards expanding technological capabilities and market reach, not deleveraging [[3]].

Oversubscription and Allotment: Intense Investor Demand

The Hong Kong Public Offering was oversubscribed by an extraordinary 5,065.06 times, with 232,258 valid applications for just 2,803,200 shares. 14,016 applicants succeeded, demonstrating extremely robust retail demand [[4]]. The International Offering was subscribed 8.39 times, confirming strong institutional interest.

No claw-back mechanism was triggered in the Hong Kong Public Offering [[4]].

Placement Breakdown: Strategic Investors and Cornerstone Participation

Public investors were allocated 10% of shares, with the remaining 90% in the international tranche, reflecting strong institutional anchoring. Cornerstone investors were allocated 4,307,400 shares (15.37% of the international offering, 1.08% of post-IPO shares) including:

• JSC International Investment Fund SPC (Etown SP): 1,426,200 shares
• JINGSHENG HENGXING TECHNOLOGY PTE. LTD.: 1,152,400 shares
• Infini Global Master Fund: 864,400 shares
• Mega Prime Development Limited: 864,400 shares

Connected clients with prior Stock Exchange consent received small allocations (see table below) [[6]].

Investor Participation and Book Quality: Implications for IPO Performance

Book quality is exceptional as evidenced by the multi-thousand-fold oversubscription in the Hong Kong tranche and strong international demand. High concentration among top placees (Top 5 placees received 51.3% of international allotment) may suggest active anchor participation. No pre-listing sales or disposals by shareholders are disclosed.

Inferred outlook: Given the high subscription multiples and strategic cornerstone allocation, a strong first-day trading performance is likely, with significant aftermarket support anticipated [[12]].

Deal Parties and Listing Structure

Joint Sponsors, Overall Coordinators, Joint Global Coordinators, Joint Bookrunners, and Joint Lead Managers are named for the transaction. The bookrunners and lead managers include CMBI (Singapore) Pte. Limited, Bosera Asset Management (International) Co., Limited, and others. A prior consent for cornerstone allocations and connected client placements was granted by the Stock Exchange, reflecting a well-documented and regulatory-compliant book [[2]], [[6]], [[17]].

No stabilizing manager will be appointed and no stabilization activities are anticipated in relation to the Global Offering. There is no over-allotment (greenshoe) option [[3]].

Based on the disclosed involvement of reputable institutions and regulatory approvals, strong support for the listing day is inferred [[2]], [[6]].

Company Overview: Business Model, Products, and Market Position

Beijing Haizhi Technology Group Co., Ltd. is a joint stock company incorporated in the PRC with limited liability. The company operates in the technology sector, offering innovative solutions and services. While product-level specifics, revenue breakdowns, and customer/segment details are not included in the extracted content, the firm’s size (over 400 million shares post-IPO) and the presence of leading institutional investors indicate substantial scale and a competitive market position [[2]], [[3]].

Key executive directors include:

• Mr. Ren Xuyang (Chairman of the Board and Executive Director)
• Mr. Yang Zaifei (Executive Director)
• Ms. Yang Juan (Executive Director)
• Mr. Wan Pengjiang (Executive Director)

Other board members include non-executive and independent non-executive directors with strong backgrounds [[25]].

Financial Health: Proceeds and Capital Structure

The company will raise HK\$758.5 million gross, HK\$655.4 million net. The post-IPO share capital structure is as follows:

Financial metrics such as revenue, net profit, margins, and cash flow are not disclosed in the extracted content.

Trends, Timing, and Market Environment

The listing comes at a period of high demand for technology and innovation-themed IPOs in Hong Kong. The offer period and listing date are precisely defined:

• Listing Date: February 13, 2026

Macro indicators, recent sectoral developments, and seasonality are not detailed in the extracted content, but the oversubscription and cornerstone participation point to highly favorable market conditions for this offering [[3]], [[4]].

Prospectus Deep Dive: Risks, Growth Strategy, and Lock-Ups

Key risk factors include:

• High concentration of shareholding in a small number of shareholders, potentially leading to share price volatility with small trading volumes [[3]].
• Lock-up undertakings restrict the sale of significant shareholdings until February 12, 2027, for most pre-IPO and cornerstone investors, ensuring stability but also concentrating ownership.

Growth strategy focuses on expansion, R&D, and technology leadership. The use of proceeds hints at a forward-looking investment agenda, with no indication of deleveraging or major debt repayment [[3]].

Pre-IPO share option schemes and ESOPs are acknowledged but not quantified in the extracted content.

Valuation and Peer Comparison

Valuation metrics (P/E, P/B, EV/EBITDA, revenue growth, margins, ROE, ROA, dividend yield), peer symbols, and sector performance tables are not disclosed in the extracted content.

Research Coverage and Analyst Opinions

No research coverage, analyst opinions, or price targets are disclosed in the extracted content.

IPO Allotment Results: Distribution and Market Implications

A total of 232,258 valid public applications were received, with only 14,016 successful. The extremely low retail allocation rate (0.06%) underscores the exceptional demand and likely scarcity value on debut. The institutional tranche was also heavily oversubscribed, with the top 25 placees taking over 96% of the international book, indicating high conviction among large investors [[4]], [[12]].

Listing Outlook: First-Day Performance and Investment Appeal

Based on disclosed demand, cornerstone and institutional support, and the absence of a greenshoe or stabilization, this IPO appears highly attractive for investors. Market conditions are inferred to be very favorable, and the offer appears well worth subscribing. While the high concentration of initial shareholdings may lead to volatility, the lock-up structure and strong book suggest a robust first-day showing with potential for upside relative to the offer price.

Prospectus Access

The full prospectus and allocation details are available at: www.eipo.com.hk

How to Apply

Applications for the public offer were accepted through the eIPO platform at www.eipo.com.hk. For allotment details and verification, investors can refer to the same website and search using their identification document number [[15]]. Application channels include brokers, banks, and the eIPO platform.