Hong Kong, 6 September 2024/Mainest/ -- Guangdong Jingxin Guo Control Testing and Certification Technology Service Centre Co., Ltd. (hereinafter referred to as “China Control”, stock code: 8629.HK) officially listed GEM on the HKEX on 6 September 2024. At this time, Safin State Control issued a total of 10,179,000 shares of H shares priced at HK$9.9 per share, with a total fund of approximately HK$1.
The IPO accounted for 10% of the share offering and 90% of the distribution. According to preliminary IPO results, the IPO portion was popular with investors. SEXIN STATE CONTROL HAS RECEIVED 2,480 VALID APPLICATIONS FOR A TOTAL SUBSCRIPTION OF 14,590,000 SHARES, WHICH REPRESENTS APPROXIMATELY 14.33 TIMES THE NUMBER OF SHARES AVAILABLE FOR SUBSCRIPTION IN THE INITIAL PUBLIC OFFERING PORTION, AND AN INTERMEDIATE MARGIN OF ONLY 10.06%. In the distribution portion, the total number of subscribed shares was increased to 1.03 times the total number of shares offered for distribution.
It is estimated that the funds raised will be used for the following purposes: approximately 37.4% of the funds will be used to expand the field of inspection and testing services to promote the diversification of the company's services; approximately 27.7% will be used to consolidate the company's position in the Maoming region of Guangdong Province and expand its business to the three- to five-line cities in Guangxi; approximately 27.5% will be used to expand Incorporating engineering inspection services to enhance the company's market competitiveness; approximately 5.5% will be used to upgrade enterprise resource planning (ERP) systems to improve business operating efficiency; approximately 1.9% will be used for general working capital to support the day-to-day operations and development needs of the company.
With more than 20 years of experience and technology accumulated, Xishin State Control is already one of the industry leaders in Guangdong's Maoming region. The successful listing on the Hong Kong Stock Exchange marks an important step forward in entering the capital markets, marking an important milestone in the history of corporate development. In the future, while consolidating its leadership position in the existing market, Shixin will continue to enhance its core competitiveness. It plans to further expand its food and agriculture-related testing skills during the year to demonstrate the expertise and quality of services provided by Xinhua.