[HK IPO Subscription] Zhida Technology Subscription Strategy

$CF PHARMTECH(02652.HK) Didn't get any, none of the three accounts got any, which is normal, but with an extra handling fee, both Group A and Group B require a lottery...

The winning rate for one lot is only about 1%...

By the way, last time Brother Er Gou picked up some big gold watches in the grey market$HIPINE(02583.HK) , but sold them in the grey market, made some price difference, bought at HKD 55, sold at HKD 75, and on the first day of listing, it rose to HKD 130, and the next day it soared to HKD 190... So exciting...

By the way, actually, for IPO subscriptions in Hong Kong stocks, making a profit is enough. Trying to sell at the highest point is really difficult and unnecessary. No need to be too hard on yourself. As long as you win, making a profit is great...

1. Basic Information

$ZHIDA TECH(02650.HK) , founded in 2010, is a global leader in new energy vehicle charging and green energy digital technology.

The company has been selected as a national-level "Little Giant" specializing in niche markets, and is a technology startup strategically invested by major new energy vehicle manufacturers and energy companies. It has been awarded the "Global Sales Leader in Home Charging Stations" market position confirmation by Sullivan.

2. IPO Information

Company Name & Code: Zhida Technology (02583.HK)

IPO Price: HKD 66.92-83.63

Minimum Subscription: HKD 4223.68 (1 lot of 50 shares)

Subscription Period: September 30 to October 6, closing next Tuesday

Allotment Announcement: October 9

Listing: October 10

Shares Offered: 5.9789 million shares, accounting for 10% of total shares

Allocation Mechanism: Mechanism B

Market Cap: HKD 4.001-5.000 billion

Greenshoe: Yes

Cornerstone Investors: None

Sponsor: Shenwan Hongyuan

3. Fundamentals

In 2022, 2023, and 2024, the company's revenue was RMB 697 million, RMB 671 million, and RMB 593 million respectively, showing a clear downward trend. During the same period, gross profit was RMB 142 million, RMB 138 million, and RMB 89 million, while annual losses expanded from RMB 25.1 million to RMB 236 million.

However, the company's performance showed signs of recovery in Q1 2025. For the three months ended March 31, revenue rebounded to RMB 217 million, and losses narrowed to RMB 17.1 million....

It is worth noting that the company's overseas revenue gradually increased from RMB 12.91 million in 2022 to RMB 61.287 million in 2023 and RMB 71.897 million in 2024, accounting for 1.9% to 12.1% of total revenue. In the first three months of 2025, overseas revenue reached RMB 32.132 million, accounting for 14.8% of revenue, indicating a clear intention for overseas expansion...

4. Subscription Strategy

1. The company's fundamentals are average, not great, but the concept is decent, and new energy is currently a hot topic.

2. Greenshoe but no cornerstone investors...

3. The company is issuing under Mechanism B, with limited shares, so the winning rate won't be high. Currently, margin financing has exceeded 2000x. In this situation, it's basically a sure win if you get allocated. It's really hard to break the issue price. Brother Er Gou went all-in with margin on one account and cash subscriptions on the other two...

Subscription Rating: 7/10 (9-10 go all-in with margin, 7-8 can use some margin, 6 try luck with small bets, 5 forget it)

Of course, this is just Brother Er Gou's personal strategy and does not constitute any investment advice....

Disclaimer:

1. This article represents only one opinion and does not constitute any investment advice or recommendation. The stock market is unpredictable, with ups and downs, so caution is advised.

2. When making any investment decisions or transactions, act within your means, handle it calmly based on your financial situation, or consult professional investment institutions.

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