Company Name: Beijing 51WORLD Digital Twin Technology Co., Ltd.

Date of Prospectus: December 18, 2025

Beijing 51WORLD Digital Twin Technology Co., Ltd. Launches HKEX IPO: In-Depth Investor Analysis, Timetable, Risks & Opportunity

IPO Snapshot

Beijing 51WORLD Digital Twin Technology Co., Ltd. is offering its shares to the public through a highly anticipated IPO on the Hong Kong Stock Exchange, targeting both institutional and retail investors. This digital twin technology leader is positioning itself for growth and innovation in a rapidly expanding sector.

• IPO Symbol: 6651 (Main Board of HKEX)
• Offer Price: HK\$30.5 per H Share
• Total Number of Offer Shares: 23,975,200 H Shares (subject to Over-allotment Option)
• Hong Kong Public Offering: 1,198,800 H Shares (subject to reallocation; max 2,397,600 or 4,795,200 depending on oversubscription)
• International Placing: 22,776,400 H Shares (subject to reallocation and Over-allotment Option)
• Nominal Value: RMB1.00 per H Share
• Offer Size: Inferred to be approximately HK\$731,239,600 (Offer Price x Total Shares; calculation inferred)
• Listing Date: Dealings commence at 9:00 a.m. on Tuesday, December 30, 2025

Minimum Application: 200 H Shares per applicant

Board Lot Size: 200 H Shares

Stock Code: 6651

Application Window: 9:00 a.m. Dec 18, 2025 – 12:00 noon Dec 23, 2025

Timetable: Results announcement by 11:00 p.m. Dec 29, 2025; listing Dec 30, 2025

Application Channels: HK eIPO White Form (www.hkeipo.hk), HKSCC EIPO (via brokers/custodians)

Website for Prospectus: www.hkexnews.hk, https://51world.com.cn/

Public, Institutional, and Employee Tranches: The IPO structure includes Hong Kong Public Offer and International Placing. No explicit mention of cornerstone, anchor, or employee tranches found.

Placement and Issuance Breakdown

**The IPO features a dual structure:**

• Hong Kong Public Offering: Initially 1,198,800 H Shares (5%) with clawback up to 20% (4,795,200 Shares) in case of heavy oversubscription
• International Placing: Initially 22,776,400 H Shares (95%), subject to reallocation to public offering if retail demand surges
• Over-allotment Option: Additional shares may be issued to stabilize price and accommodate excess demand, up to 15% typically (exact figure not stated)

No cornerstone or anchor investor allocations are explicitly mentioned. Allotment between Pool A and Pool B will be at Overall Coordinators’ discretion in case of clawback events.

Investor Participation & Book Quality

Oversubscription Mechanism: If the Hong Kong Public Offering is oversubscribed by:

• 10–49.99x: public allocation doubles to 10%
• 50x or higher: public allocation quadruples to 20%

If International Placing is undersubscribed or public offering is fully subscribed, reallocation may apply.

Book Quality Implication: The clawback structure and strong reallocation mechanisms are designed to ensure robust demand and fair allocation. This typically signals healthy investor interest and potential for positive first-day performance, especially if heavy oversubscription is observed [[5]].

Deal Parties & Structure

Lead Investment Banks, Coordinators and Sponsors:

• China International Capital Corporation Hong Kong Securities Limited (**Stabilization Manager**)
• Multiple Overall Coordinators, Joint Global Coordinators, Joint Bookrunners, Joint Lead Managers (full list not provided)

Stabilization/Over-allotment: The Stabilization Manager may conduct price-stabilizing transactions for up to 30 days post-listing, potentially supporting the share price and mitigating volatility [[1]].

Underwriting: The Joint Sponsors, Sponsor-OCs, and Overall Coordinators may terminate the underwriting agreement in specific adverse events up to 8:00 a.m. on listing day.

Company Overview

Business Model and Revenue Streams

Beijing 51WORLD Digital Twin Technology Co., Ltd. is a joint stock company incorporated in China, specializing in digital twin technology. The company develops advanced platforms and solutions for urban planning, infrastructure, and real-time simulation, serving government, enterprise, and institutional clients.

• Key Products/Services: Digital twin platforms, real-time simulation tools, urban planning solutions
• Monetization: Licensing, project-based contracts, SaaS models (inferred from sector)
• Customer Segments: Governments, enterprises, infrastructure operators; focus on Greater China, expanding globally

Industry Definition: Digital twin technology for smart cities and enterprise solutions. Exact sector size not provided.

Competitive Advantages: Strong technical expertise, early mover in China’s digital twin sector, high-profile client base

Management Team:

• Chairman & Executive Director: Mr. Li Yi
• Executive Directors: Mr. Wang Chenkang, Ms. Zhang Yuwei, Ms. Tong Shan, Ms. Pu Ge
• Non-Executive Director: Mr. Lyu Jinrong
• Independent Non-Executive Directors: Mr. Li Pan, Mr. Lin Chen, Mr. Zhang Lening

Brand Strength & Market Position: The company is positioned as a technology leader in digital twin platforms, with a notable presence in the PRC and expanding internationally.

Financial Health

Key Financial Metrics

Financial details such as revenue, profit, margins, and cash flow are not explicitly disclosed in the prospectus summary provided. Investors should reference the full prospectus for detailed financials.

Trends, Timing & Environment

Sector and Global Trends: The digital twin sector is rapidly expanding, driven by smart city initiatives, infrastructure digitization, and real-time data analytics.

Historical Demand Drivers: Urbanization, government digitalization mandates, and enterprise adoption of simulation technologies

Seasonality: Not disclosed

Economic Environment: The offering period coincides with strong capital markets activity in Hong Kong, providing a favorable backdrop for tech IPOs [[6]].

IPO Timing:

• Application Period: December 18–23, 2025
• Results Announcement: December 29, 2025
• Listing Date: December 30, 2025

Recent Company Developments: Not specified; investors should consult the prospectus for details.

Favorable Market Conditions: The IPO’s timing and sector momentum suggest conducive conditions for a successful listing and aftermarket performance.

Prospectus Deep Dive

Risk Factors

• Market Risk: Share price may decline post-stabilization period if demand wanes [[1]].
• Legal/Regulatory: Subject to Hong Kong and PRC regulations; details in prospectus
• Underwriting Termination Risk: Offer may be withdrawn on adverse events prior to listing
• Investor Eligibility: Hong Kong Offer Shares only available to Hong Kong residents

Growth Strategy

Expansion Plans: Proceeds inferred to support R&D, market expansion, product development, and possibly international growth (exact allocation not specified)

Capex Pipeline: Not explicitly detailed

Timeline: Immediate deployment post-IPO with focus on scaling operations

Ownership & Lock-ups

Shareholding Structure: Not detailed in summary; investors should reference full prospectus for major shareholder breakdown, promoter holdings, and lock-in periods.

ESOPs: Not mentioned.

Valuation and Peer Comparison

Valuation Metrics: P/E, P/B, EV/EBITDA, revenue growth, net margin, ROE, ROA, dividend yield, and peer comparison are not disclosed in the summary. Investors should consult the full prospectus for detailed valuation and sector benchmarks.

Research & Opinions

No analyst coverage, price targets, or explicit opinions are mentioned in the summary. Investors should seek further details in the full document.

IPO Allotment Result

Allocation Results: Final allotment results, including successful applicants’ ID numbers, will be published at www.hkexnews.hk, https://51world.com.cn/, and www.hkeipo.hk/IPOResult by 11:00 p.m. December 29, 2025. Allotment results available from December 29, 2025 to January 4, 2026; shares will be credited or certificates dispatched by December 30, 2025.

Listing Outlook

IPO Outlook: Based solely on facts disclosed:

• Strong sector momentum and robust clawback mechanisms imply high subscription likelihood
• Stabilization measures and reputable investment banks support first-day price stability
• If demand meets or exceeds thresholds, the IPO appears worth subscribing for investors seeking exposure to China’s digital twin growth story
• Estimated First-Day Trading Range: Inferred to open near HK\$30.5 with potential for upside if oversubscription is high and market conditions remain favorable

How to Apply

Application Channels:

• HK eIPO White Form Service: www.hkeipo.hk (for applicants wanting physical share certificates; minimum 200 shares per application)
• HKSCC EIPO Channel: Via broker or custodian who is a HKSCC Participant; allotment and settlement directly to CCASS

Application Window: December 18, 2025, 9:00 a.m. – December 23, 2025, 12:00 noon (Hong Kong time)

Timetable: Results on December 29, 2025; trading commences December 30, 2025

Prospectus Access

For full details and electronic application:

• Website: www.hkexnews.hk
• Company website: https://51world.com.cn/