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HKG:3296

10 stories mentioning HKG:3296

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Asia

Huaqin Raises HK$679 Million From Full Exercise of IPO Overallotment Option; Completes Nexchip Stake Acquisition

Huaqin (HKG:3296, SHA:603296) said its underwriters fully exercised the overallotment option of its Hong Kong listing, and the stabilization period of its initial public offering ended on Wednesday, May 20, according to a same-day filing with the Hong Kong bourse.Hong Kong-listed shares of the smart hardware products manufacturer fell nearly 3% in Thursday morning trade.The company issued nearly 8.8 million H shares at HK$77.70 apiece for additional net proceeds of HK$679.1 million.The overallotment option was exercised after the same number of shares were over-allocated by the IPO's underwriters in the international portion of the issue.The number of shares held by the public after the exercise of the overallotment option complied with Hong Kong's listing requirements, the firm said.Meanwhile, the company completed the purchase of a further 5% stake in Nexchip Semiconductor (SHA:688249) for 2.65 billion yuan.The firm purchased nearly 100.4 million shares of Nexchip from Powerchip Innovation at 26.41 yuan each, bumping its stake to 11% from 6%.

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Asia

Huaqin Completes 1.2 Billion Yuan Sci-Tech Bond Issuance

Huaqin (HKG:3296, SHA:603296) completed the issuance of its 2026 second tranche of sci-tech innovation corporate bonds to professional investors, according to a Wednesday Hong Kong bourse filing.Hong Kong-listed shares of the smart hardware products manufacturer were up nearly 1% in Thursday morning trade.The company issued 1.2 billion yuan of three-year bonds at a coupon rate of 1.80%.

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Asia

Hong Kong Stocks Fall as US-Iran Conflict Escalation Fears Rise; StanChart Gains on Earnings

Hong Kong stocks fell on Thursday as a sharp rise in oil prices, driven by concerns over potential U.S. military action against Iran, weighed on sentiment.The Hang Seng Index fell 335.31 points, or 1.3%, to close at 25,776.53, while the Hang Seng China Enterprises Index lost 123.77 points, or 1.4%, to 8,681.83.U.S. President Donald Trump was set to receive a briefing Thursday from U.S. Central Command chief Brad Cooper on potential military options against Iran, Reuters reported, citing Axios.Oil prices surged, with Brent crude climbing more than 6% to a four-year high of $125 a barrel amid reports that Washington may consider further strikes on Iran.Meanwhile, Federal Reserve Chair Jerome Powell ended his eight-year tenure Wednesday with interest rates unchanged.Powell said he will remain on the Federal Reserve's Board of Governors.Hong Kong financial markets will be closed on Friday for the Labor Day holiday and will reopen on Monday, May 4.In corporate news, Standard Chartered (HKG:2888) closed nearly 2% higher after posting a growth in first-quarter profit.Huaqin Technology (HKG:3296, SHA:603296) jumped nearly 4% after logging a 26% increase in first-quarter profit.

Hang SengHKG:2888HKG:3296SHA:603296
Asia

Huaqin Technology's Profit Jumps 26% in Q1

Huaqin Technology (HKG:3296, SHA:603296) posted net profit attributable to shareholders of 1.06 billion yuan for the first quarter, up 26% from 842 million yuan a year earlier, according to a Thursday Hong Kong bourse filing.Earnings per share came in at 1.04 yuan, compared with 0.83 yuan a year earlier.Operating income rose 16% to 40.7 billion yuan from 35 billion yuan in the prior-year period.

HKG:3296SHA:603296
Asia

Huaqin to Acquire Further 5% of Nexchip Semiconductor

Huaqin (HKG:3296; SHA:603296) said it agreed to acquire a further 5% stake in Nexchip Semiconductor (SHA:688249) for 2.65 billion yuan, according to a Hong Kong bourse filing Wednesday.The firm will purchase nearly 100.4 million shares of Nexchip from Powerchip Innovation at 26.41 yuan each.The sale will reduce Powerchip's ownership in Nexchip to 8.07%.Huaqin previously acquired 6% of Nexchip's shares in July 2025. The new purchase reflects the company's "confidence in the future development prospects of Nexchip Semiconductor," the company said.

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Asia

Hong Kong Stocks Continue Downward Slide; Huaqin Makes Strong Debut

Hong Kong stocks continued their downward slide Thursday as prolonged uncertainty in the Middle East dampened risk appetite.The Hang Seng Index fell by around 248.04 points, or roughly 0.1%, to end at 25,915.20 while the Hang Seng China Enterprises Index decreased by 69.15 points, or around 0.8%, to close at 8,732.63.Iran and the U.S. were no closer to beginning peace talks as both sides remained locked in a stalemate, prompting Brent crude prices, viewed as the global benchmark, to once again zoom past $100.Meanwhile, strategists at BNP Paribas said mainland Chinese investors were slowing their purchases of Hong Kong-listed shares this year to give priority to artificial intelligence-related investment opportunities in the mainland markets, the South China Morning Post reported.According to the report, the Stock Connect cross-border system had recorded $30 billion in inflows so far this year, a slower pace than the $180 billion reached in 2025.In corporate news, Huaqin (HKG:3296; SHA:603296) made a strong debut on its first day of trading in Hong Kong.The Chinese smart hardware products manufacturer closed at HK$88.00 per share, up 13% from the IPO offer price of HK$77.70.

Hang SengHKG:3296SHA:603296
Asia

Huaqin Rises 13% in Hong Kong Trading Debut

Huaqin's (HKG:3296; SHA:603296) shares opened 12.7% above their initial public offering price during the company's Hong Kong debut on Thursday morning.The China-based smart hardware products manufacturer opened at HK$87.55 per share, up from the offer price of HK$77.70.Huaqin's Shanghai-listed shares edged down marginally.

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Asia

Huaqin Nets HK$4.5 Billion From Hong Kong IPO Ahead of Debut

Huaqin (HKG:3296, SHA:603296) raised HK$4.46 billion in net proceeds from its initial public offering in Hong Kong.The final offer price was set at HK$77.70 per H-share, according to a Wednesday after-market filing with the Hong Kong Stock Exchange.The China-based smart hardware products manufacturer offered 58.5 million H-shares in the global offering.The Hong Kong public offer was 531.33 times subscribed, with a final allocation of 5.9 million shares, representing 10% of the total offering.The international offering was 13.34 times subscribed, with a final allocation of 52.7 million shares, or 90% of the total offering.An over-allocation of 8.8 million shares was made under the global offering.Cornerstone investors, including JPMAMAPL, UBS Asset Management (Singapore), Shanghai Gaoyi, Perseverance Asset Management, Cloud Map, Taikang Life, and Aurora SF, were allotted a combined 29.3 million shares, according to the filing.Huaqin is scheduled to debut on the Hong Kong bourse on Thursday, April 23.

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Asia

Huaqin Technology Prices Hong Kong IPO to Raise Up to HK$4.6 Billion

Huaqin Technology (HKG:3296, SHA:603296) set the offer price for its Hong Kong initial public offering at HK$77.70 per share, according to a Tuesday Hong Kong bourse filing.The China-based smart hardware products manufacturer is offering 58.5 million Hong Kong-listed shares, seeking to raise up to about HK$4.55 billion from the deal.The company expects to announce the results of the international offering and the Hong Kong public offering, along with allocation details, on Wednesday.Trading in the shares is scheduled to begin on Thursday, with shares to be traded in board lots of 100.

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Asia

Huaqin Technology Seeks Up to HK$4.5 Billion in Hong Kong IPO

Huaqin Technology (HKG:3296, SHA:603296) launched its Hong Kong initial public offering on Wednesday, seeking to raise up to about HK$4.55 billion.The China-based smart hardware products manufacturer is offering 58.5 million H-shares at a maximum price of HK$77.70 per share, according to a Hong Kong bourse filing.The offering comprises 5.9 million shares for Hong Kong investors and 52.7 million shares for international investors, subject to reallocation and the overallotment option.The offer price is expected to be determined by April 21, with allocation results due by April 22, ahead of the company's planned trading debut on April 23.Net proceeds will be used mainly to enhance product-centric research and development, including expanding R&D teams and investing in advanced technologies.The funds will also support manufacturing capacity expansion and optimization, alongside automation and digitalization upgrades.Huaqin will further allocate proceeds toward strategic investments and vertical integration across its supply chain, as well as for working capital and general corporate purposes.China International Capital Corporation Hong Kong Securities, and Merrill Lynch (Asia Pacific) are acting as joint sponsors, as well as sponsor-overall coordinators, joint bookrunners, and joint lead managers.Goldman Sachs (Asia), CLSA, Futu Securities International (Hong Kong), and Tiger Brokers (HK) Global are acting as joint bookrunners and joint lead managers, while ABCI Capital is also a joint bookrunner.

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