Company: Star Sports Medicine Co., Ltd.

Date of Prospectus: April 24, 2026

Star Sports Medicine Co., Ltd. IPO: A Deep Dive into Offer Structure, Financials and Listing Outlook

Star Sports Medicine Co., Ltd. is launching a highly anticipated IPO on the Hong Kong Stock Exchange, aiming to position itself as a leader in sports medicine and healthcare solutions. This article provides a comprehensive, investor-focused analysis of the IPO, including offer details, allocation, financials, risk factors, growth strategy, and the outlook for listing day performance.

IPO Snapshot

Key Details: Star Sports Medicine Co., Ltd. is offering its H Shares in a global offering, targeting both Hong Kong public investors and international institutional participants.

• IPO Symbol: 1609
• Offer Price: HK\$98.50 per H Share
• Total Offer Size: 8,421,850 H Shares
• Hong Kong Offer Shares: 842,200 H Shares (subject to reallocation)
• International Offer Shares: 7,579,650 H Shares (subject to reallocation)
• Nominal Value: RMB1.00 per H Share
• Maximum Hong Kong Offer Shares via reallocation: 1,263,250 H Shares (15% of total offer)

Offer Price includes: 1.0% brokerage, SFC transaction levy (0.0027%), Hong Kong Stock Exchange trading fee (0.00565%), and AFRC transaction levy (0.00015%) [[2]], [[6]], [[4]].

Offer Structure and Placement Breakdown

The global offering comprises:

• Hong Kong Public Offering: 842,200 H Shares (10% of total, subject to reallocation)
• International Offering: 7,579,650 H Shares (90% of total, subject to reallocation)

Reallocation mechanism: Up to 1,263,250 H Shares (15% of total) may be reallocated to the public tranche if demand is high, supporting a flexible response to oversubscription [[5]], [[6]].

Application process: Fully electronic—no physical prospectuses or applications. Investors may apply via the White Form eIPO service or through brokers/custodians using HKSCC’s FINI system [[3]], [[8]], [[9]].

• Minimum application: 50 H Shares per applicant
• Maximum application: 421,100 H Shares per applicant [[4]]

Timetable:

• Offer opens: 9:00 a.m., April 24, 2026
• Offer closes: 12:00 noon, April 29, 2026
• Listing Date: 9:00 a.m., May 5, 2026 [[6]], [[8]]
• Allocation announcement: By 11:00 p.m., May 4, 2026 [[7]], [[9]]

Deal Parties and Structure

Key Investment Banks and Sponsors:

• Joint Sponsors
• Overall Coordinators
• Joint Global Coordinators
• Joint Bookrunners
• Joint Lead Managers [[2]]

Underwriting: The Hong Kong Underwriting Agreement may be terminated for material events prior to 8:00 a.m. on Listing Date. This provides risk mitigation for investors [[1]], [[3]].

Company Overview

Business Model: Star Sports Medicine Co., Ltd. is a joint stock company incorporated in the PRC, specializing in sports medicine. The company provides products and services aimed at supporting athletes and sports organizations, with monetization primarily through H Shares issued to investors.

• Revenue Streams: Sports medicine products and services (inferred from company name and sector)
• Customer Segments: Athletes, sports organizations, healthcare providers (inferred)
• Geographies: Mainland China and Hong Kong, with H Shares listed in Hong Kong [[2]], [[5]]

Management Team:

• Chairman & Executive Director: Mr. Dong Wenxing
• Executive Director: 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 [[10]]

Financial Health

Financial metrics: Revenue, profit and margin figures are not disclosed in the announcement. Investors should refer to the company website for detailed financials.

Market Position and Competitive Advantages

Sector: Sports medicine and healthcare services.

Market position: The company is positioning itself as a leading provider of sports medicine in China. Exact market share, brand strength, and ranking figures are not disclosed in the announcement.

Trends, Timing, and Market Environment

Sector and regional trends: The offering comes amid increasing interest in sports medicine and healthcare solutions in China and Hong Kong. Historical demand drivers, seasonality, and macro indicators are not detailed in the announcement.

IPO timing: The offer opens April 24, 2026, closes April 29, 2026, with listing expected May 5, 2026—timed to capture market attention in the second quarter [[6]], [[8]].

Economic environment: Not explicitly described; investors should monitor sector news and Hong Kong market conditions.

Risk Factors

Key risks: The prospectus outlines several risks, including:

• Regulatory risk: If listing conditions are not met or if the underwriting agreement is terminated, the offering may not proceed.
• Settlement risk: Trading in H Shares is subject to CCASS rules; investors must consult their brokers for settlement details [[8]].
• Trading risk: H Share certificates become valid evidence of title only at 8:00 a.m. on listing day; trading before receipt is at investor’s own risk [[10]].

Growth Strategy

Growth plans: The company intends to use proceeds to support ongoing business initiatives and expansion. Specific amounts, timelines, and capex pipeline are not disclosed in the announcement.

Ownership and Lock-ups

Shareholding Structure: Pre- and post-IPO shareholding, promoter holdings, lock-in periods, and ESOPs are not disclosed in this announcement.

Valuation and Peer Comparison

Valuation metrics: P/E, P/B, EV/EBITDA, revenue growth, net margin, ROE, ROA, dividend yield, and comparable peer symbols are not disclosed in the announcement. Investors should consult the company website for further details.

Research and Opinions

Analyst coverage: No analysts, price targets, or explicit opinions are included in the announcement.

IPO Allotment Result

Subscription outcomes: The company will announce the level of indications of interest, Hong Kong Public Offering applications, and basis of allocations by 11:00 p.m. on May 4, 2026. Allocation results will be available via designated websites and telephone enquiry [[7]], [[8]], [[9]].

Listing Outlook

Inferred Outlook: Based on the fully electronic application process, flexible reallocation mechanism, and robust underwriting structure, the IPO appears well-positioned for strong first-day performance. The offer price and structure suggest the company is targeting growth-driven expansion. Investors may expect keen interest from both retail and institutional tranches, with the possibility of oversubscription and positive listing momentum, subject to market conditions [[3]], [[5]], [[6]].

Estimated first-day trading range: Inferred to be at or above the offer price, given demand flexibility and robust deal structure.

Prospectus Access

To obtain the prospectus and detailed information, visit: www.hkexnews.hk or starsportmed.com

How to Apply

Application Channels:

• White Form eIPO service at www.eipo.com.hk
• Through brokers or custodians using HKSCC’s FINI system
• Application window: Starts 9:00 a.m. April 24, 2026; ends 12:00 noon April 29, 2026 [[3]], [[8]], [[9]]

Eligibility: Applicants must be resident in Hong Kong; minimum application is 50 H Shares.

Conclusion: Star Sports Medicine Co., Ltd. is set to make a high-profile entry into the Hong Kong market with a substantial global offering, robust deal structure, and flexible allocation mechanisms. Investors seeking exposure to China’s sports medicine sector can access the IPO via electronic channels, with detailed allocation and results to be announced post-application. All information, including financials, risk factors, and growth strategy, should be reviewed on the company website for further investment analysis.