Star Sports Medicine Co., Ltd. Announces Details of Hong Kong IPO and Global Offering

Key Points of the Announcement

• IPO Launch: Star Sports Medicine Co., Ltd. is launching its Global Offering and seeking a listing of its H Shares on the Hong Kong Stock Exchange.
• Offer Size: The Global Offering comprises a total of 8,421,850 H Shares, with 842,200 H Shares offered in Hong Kong (subject to reallocation) and 7,579,650 H Shares offered internationally (subject to reallocation).
• Offer Price: The Offer Price is set at HK\$98.50 per H Share, plus associated fees including brokerage (1.0%), SFC transaction levy (0.0027%), Hong Kong Stock Exchange trading fee (0.00565%), and AFRC transaction levy (0.00015%).
• Nominal Value: Each H Share carries a nominal value of RMB1.00.
• Stock Code: The stock code for Star Sports Medicine Co., Ltd. H Shares will be 1609.
• Fully Electronic Application: The Hong Kong Public Offering will be conducted entirely online, with no printed prospectus or physical application channels. Investors must apply electronically via the White Form eIPO service or HKSCC EIPO channel.
• Minimum Application: The minimum application for Hong Kong Offer Shares is 50 shares. Maximum for an individual is 421,100 shares.
• Timetable:
  • Public Offering opens: 9:00 a.m., Friday, April 24, 2026
  • Deadline for White Form eIPO applications: 11:30 a.m., Wednesday, April 29, 2026
  • Application lists open: 11:45 a.m., Wednesday, April 29, 2026
  • Application lists close: 12:00 noon, Wednesday, April 29, 2026
  • Results announcement: By 11:00 p.m., Monday, May 4, 2026
  • Dealings in H Shares begin: 9:00 a.m., Tuesday, May 5, 2026
• Settlement: H Shares will be eligible securities accepted by HKSCC for deposit, clearance, and settlement in CCASS from the Listing Date.
• Reallocation Mechanism: Shares may be reallocated between the Hong Kong Public Offering and the International Offering. If demand in Hong Kong is strong, up to 15% (1,263,250 H Shares) may be allocated to the Hong Kong Public Offering.
• Board of Directors: The Board is headed by Chairman and Executive Director Mr. Dong Wenxing.

Important Information for Shareholders and Potential Investors

• This announcement does not constitute an invitation or offer to acquire, purchase, or subscribe for securities in the United States or any other jurisdiction where such offer would be unlawful.
• The Offer Shares are not registered under the U.S. Securities Act of 1933 and cannot be offered or sold in the United States except under specific exemptions.
• Investors residing outside Hong Kong are not eligible to participate in the Hong Kong Public Offering.
• The fully electronic application process marks a significant shift from traditional IPO processes, potentially affecting retail investor participation.
• There are no physical share certificates for applications through the HKSCC EIPO channel; shares will be credited to the CCASS system.
• If the underwriting agreement is terminated or the offering conditions are not met, application monies will be refunded in full, without interest.
• Investors who trade H Shares before receiving valid share certificates do so at their own risk.
• Any significant oversubscription in the Hong Kong Public Offering could lead to increased allocation and possible price volatility once trading begins.
• Offer Price is HK\$98.50 per H Share, which may be considered relatively high for a new listing; investor sentiment and demand will be key determinants for share price movement upon debut.

Potential Price Sensitive Information

• The IPO price and the size of the Global Offering are material facts that could influence trading behavior and share price upon listing.
• The reallocation mechanism could result in a larger portion of shares being made available to Hong Kong retail investors if demand is strong, which might impact initial trading volumes and price.
• The electronic-only application process may restrict participation from certain investor segments, potentially affecting the breadth of initial demand.
• The Company’s decision to set the IPO price at HK\$98.50, and to limit the maximum application per retail investor, may influence initial liquidity and volatility.
• Dealings in H Shares are expected to commence on Tuesday, May 5, 2026, and early trading performance will be closely watched by investors for indications of market sentiment.
• Underwriting arrangements allow for termination prior to listing upon specified events, which is a risk factor for investors.

Application and Settlement Details

• Application Channels: White Form eIPO (for physical share certificates), HKSCC EIPO channel (for shares credited to CCASS).
• Application Amounts: Detailed payment table provided based on number of shares applied for, inclusive of all fees and levies.
• Settlement: Shares will be admitted to CCASS, and settlement will take place on the second settlement day after trading.
• Results Publication: Allocation results will be announced via company and Stock Exchange websites, telephone enquiry lines, and designated results websites.

Board Composition

• Chairman: Mr. Dong Wenxing
• Executive Directors: Mr. Dong Wenxing, Mr. He Lu
• Non-Executive Directors: Ms. Zhang Di, Mr. Chang Xi, Mr. David Guowei Wang, Ms. Yi Lin, Mr. Zhou Quan
• Independent Non-Executive Directors: Mr. Lyu Zhenlin, Mr. Deng Yu, Mr. Liu Baojie, Mr. Wang Chunfei

Investor Guidance

• Investors should review the full Prospectus for detailed information about Star Sports Medicine Co., Ltd., the risks associated with the Global Offering, and the company’s financial position before deciding to invest.
• As with any IPO, there is risk associated with price volatility, changes in allocation, and the possibility of refund if the offering is not completed.
• Retail investors should be aware of the minimum and maximum application size, as well as the requirement for electronic application and payment.

Disclaimer

This article is for informational purposes only and does not constitute an offer or solicitation to purchase or subscribe for securities. Investors should review the official prospectus and seek professional advice before making any investment decision. The information provided does not constitute financial advice and is subject to change based on further announcements by the company or regulatory authorities.

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