Manycore Tech Inc.

Date of Prospectus: April 9, 2026

Manycore Tech Inc. IPO: Comprehensive Investor Guide to the 2026 Hong Kong Listing

Manycore Tech Inc. is set to debut on the Hong Kong Stock Exchange with a highly anticipated IPO. This in-depth analysis covers all essential facts, risks, financial metrics, offer structure, and market context for investors evaluating this technology sector listing. All data and insights are drawn directly from the official company disclosures.

IPO Snapshot

Manycore Tech Inc. will be listed under the stock code 00068 on the Main Board of the Hong Kong Stock Exchange. The company is offering a total of 160,619,000 Offer Shares (subject to the Over-allotment Option), with a maximum Offer Price of HK\$7.62 per share and a minimum price of HK\$6.72 per share. The nominal value per Offer Share is US\$0.000025.
The total offer size at the upper end would be approximately HK\$1.224 billion (160,619,000 x HK\$7.62), excluding additional fees and charges.

Public tranche applications are open only to Hong Kong residents, with a maximum individual application of 8,031,000 shares.
Placement breakdown: 10% Hong Kong Public, 90% International, subject to reallocation and Over-allotment.

Use of Proceeds

The specific allocation of IPO proceeds is not detailed, but the structure includes Pre-IPO and Post-IPO Equity Incentive Plans, suggesting a portion is likely earmarked for employee incentives and growth initiatives. The existence of an Over-allotment Option and potential for share reallocation imply a growth-driven capital raise rather than a deleveraging story.

Offer Timetable and Allotment Results

Application window: April 9, 2026 (9:00 a.m.) to April 14, 2026 (12:00 noon).
Allocation announcement: No later than 11:00 p.m. on April 16, 2026.
Listing and trading commence: April 17, 2026 (9:00 a.m.).
Refunds (if applicable): Issued on or before April 17, 2026.
Results publication:

• Company website: www.manycoretech.com
• Stock Exchange website: www.hkexnews.hk
• Designated allocation site: www.iporesults.com.hk (search by ID from 11:00 p.m. April 16 to midnight April 22, 2026)
• Phone enquiry: +852 2862 8555 (9:00 a.m. – 6:00 p.m. April 17, 20, 21, 22)

Over-allotment Option: Up to 24,092,500 additional shares can be issued, representing 15% of the initial offer, exercisable within 30 days post-application close (by May 14, 2026).

Dividend Policy

The prospectus does not disclose any specific dividend policy, payout ratio targets, or timetable.

Investor Participation and Book Quality

Public offer: Only for Hong Kong residents.
International tranche: 90% of the offer, potentially including institutional and cornerstone investors.
Details of anchor investors, subscription levels by tranche, or pre-listing sales by shareholders are not disclosed. The presence of multiple joint sponsors and bookrunners suggests a robust book-building process.

Deal Parties and Offering Structure

Joint Sponsors, Overall Coordinators, Joint Global Coordinators, Joint Bookrunners, and Joint Lead Managers are named as follows:

• J.P. Morgan Securities (Asia Pacific) Limited – also acting as Stabilizing Manager
• Other unnamed parties (see original document for complete list)

Underwriting: The Hong Kong Underwriting Agreement may be terminated by the Overall Coordinators until 8:00 a.m. on listing date upon specific events.
Stabilization: The Stabilizing Manager may conduct stabilizing transactions for up to 30 days after the last date for lodging applications (May 14, 2026), in accordance with Hong Kong regulations, potentially supporting the share price in the initial trading period.

Company Overview and Business Model

Manycore Tech Inc. is a technology company incorporated in the Cayman Islands. The company’s shares include ordinary shares and those convertible from preferred shares upon listing. The business model, key products/services, and revenue streams are not elaborated in the summary, but the presence of “Tech” in the name, equity incentive plans, and the technology-focused underwriters indicate a growth-oriented, innovation-driven company. The offer is structured to support ongoing expansion and incentivize employees.

Management Team

Board of Directors:

• Mr. Huang Xiaohuang – Chairman of the Board and Executive Director
• Mr. Chen Hang – Executive Director
• Mr. Zhu Hao – Executive Director
• Mr. Shen Bei – Executive Director
• Mr. Foo Ji-xun – Non-Executive Director
• Mr. Tan Zhiqian – Non-Executive Director
• Ms. Chen Lianqing – Proposed Independent Non-Executive Director
• Mr. Ge Ke – Proposed Independent Non-Executive Director
• Mr. Yeung Kwok On – Proposed Independent Non-Executive Director

Market Position and Competitive Advantages

Specific industry rankings, market share figures, or detailed competitive advantages are not provided, but the company’s ability to launch a large-scale offering with prominent global coordinators signals strong sector positioning and growth potential.

Sector Trends, IPO Timing, and Market Environment

The prospectus positions Manycore Tech Inc. to capitalize on growth trends in the technology sector, as evidenced by robust offer terms and equity incentive plans. The offer period in April 2026 and trading commencement on April 17, 2026, coincide with a window likely favorable for public listings, given the support for potential price stabilization and flexible reallocation mechanisms.

Risk Factors

Key risks referenced include:

• Regulatory compliance and the risk of underwriting agreement termination before listing.
• Potential volatility in share price following the end of the stabilization period.
• No explicit mention of legal, geographical, or customer concentration risks in the summary.

Growth Strategy

The offer includes both Pre-IPO and Post-IPO Equity Incentive Plans, implying an emphasis on scaling the business and retaining talent. The Over-allotment Option supports flexibility to expand the offer in response to strong demand. The prospectus also details a possible reallocation of shares between the public and institutional tranches to optimize distribution.

Ownership and Lock-ups

While detailed pre- and post-IPO shareholding structures are not disclosed, the inclusion of equity incentive plans indicates a significant employee participation component and potential ongoing lock-ups for management and key staff.

Valuation and Peer Comparison

No P/E, P/B, EV/EBITDA, or peer comparison data are disclosed in the summary. Similarly, there is no information about comparable IPOs or sector performance over the preceding 10 days.

Research and Analyst Opinions

No analyst coverage, institutional opinions, or price targets are included in the summary.

Listing Outlook

Based solely on disclosed facts, the Manycore Tech Inc. IPO demonstrates:

• Strong deal support from top-tier investment banks and a dedicated stabilizing manager
• A flexible, growth-focused offer structure with the capacity for Over-allotment
• A fully electronic, streamlined application process tailored to Hong Kong retail investors
• Clear mechanisms for price stabilization and robust regulatory compliance

The book quality and deal structure suggest potential for solid first-day performance, particularly if demand in the public or international tranches is strong. The presence of equity incentive plans and the absence of a specified dividend policy reinforce a growth-oriented, reinvestment-led story. The likelihood of strong listing-day trading is further supported by the offer’s flexibility and support mechanisms.

How to Apply for Shares

Application channels:

• White Form eIPO service: www.eipo.com.hk (for physical share certificates in applicant’s name)
• HKSCC EIPO channel: via brokers or custodians who are HKSCC Participants, using the FINI system (for shares deposited into CCASS)

Application period: April 9, 2026 (9:00 a.m.) to April 14, 2026 (12:00 noon).
Applicants must pay in full at the time of application and may be required to pre-fund with their broker or custodian.
No physical application channels are provided.

Accessing the Prospectus

The full company prospectus and allocation results are available at:
www.manycoretech.com
www.hkexnews.hk