Qiniu Asia Vets IPO, listed in Hong Kong on October 16th, introduced Jiaxing state-owned assets as cornerstone investors, with CICC and CMB joint underwriters.

Ryanben Capital · Sep 30 12:40

音视频云服务商七牛智能(02567.HK)，于今日(9月30日)起至下周四(10月10日)招股，预计2024年10月16日在港交所挂牌上市，申万宏源香港、交银国际联席保荐。

七牛智能，计划全球发售1.5975亿股(约占发行完成后总股份的8%)，其中90%为国际发售、10%为公开发售，另有15%超额配股权。每股发售价介乎2.74~2.86港元，每手1000股，最多募资约4.57亿港元。

假设每股发售价2.80港元(发售价区间中位数)，假设超额配股权未获行使，七牛智能预计上市总开支约7260万港元，包括3.8%的包销佣金、1.4%的酌情奖金、联交所上市费、证监会交易征费、联交所交易费、财汇局交易征费、法律及其他专业费用、印刷及其他开支等。

七牛智能是次IPO招股引入1基石投资者，嘉兴市国资委旗下秀洲金控管理的禾顺，将按发售价认购6390万股发售股份(认购金额介于约人民币1.75亿至约1.83亿元之间)，占全球发售完成后总股份的3.20%。

七牛智能是次IPO，募资净额约3.747亿港元(按发售价中位数计)：约38.0%将用于渗透及夯实公司的APaaS业务中应用场景的占有率及发展与扩大客户群，包括用于购买网络及带宽、服务器存储、提升销售及营销功能、未来5年招聘25名软件领域或APaaS相关行业的工程师等；约20.0%将用于未来36至60个月扩展海外业务，包括提升海外IT基础设施、在中国香港及东南亚地区建立本地团队；约12.0%将用于提升公司的研发能力并完善公司的技术基础设施，包括打造AIGC能力、升级迭代低代码平台；约20%将用于选定合并、收购和战略投资；约10.0%将用作营运资金及一般公司用途。

七牛智能是次IPO，申万宏源香港、交银国际为其联席保荐人、整体协调人、联席全球协调人，华泰国际为其整体协调人、联席全球协调人，其他包销商包括广发证券(香港)、招银国际、农银国际、浙商国际、招商证券国际、民银证券、国证国际、富途证券、利弗莫尔证券、老虎证券。

招股书显示，七牛智能在上市后的股东架构中，许式伟先生通过Dream Galaxy持股16.52%；吕桂华先生通过Dustland持股5.41%；淘宝中国持股16.27%；云锋基金通过Magic Logistics持股11.44%；经纬中国通过MPCs持股7.34%；中国国有企业结构调整基金通过永禄持股6.74%；启明基金持股6.29%；田溯宁控制的CBC持股3.80%；FG Venture，持股2.04%；Golden Valley持股0.23%；嘉实基金通过Harvest Yuanxiang持股3.52%；上海张江持股2.35%；上海张江科投，持股1.41%；Telstra Ventures持股1.41%；上海燊泰持股1.58%；交银资产管理持股3.85%；交银基金持股0.62%；Jumbo Sheen，持股1.35%。公众股东持股8.00%。

七牛智能，成立于2011年，作为中国最早提供音视频云服务的平台之一，致力成为全球领先的一站式场景化智能音视频服务商。公司主要提供音视频PaaS服务(MPaaS)，应用平台即服务(APaaS)，客户遍布各行各业，包括泛娱乐、社交网络、医疗、电子商务、教育、媒体、金融服务、汽车、电信和智能制造等。根据艾瑞咨询，按2023年收入计，七牛云是中国第三大音视频PaaS服务商，市场份额为5.8%；按2023年APaaS收入计，七牛云也是中国第二大音视频APaaS服务商，市场份额为14.1%。

七牛智能科技招股书链接：

https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0930/2024093000012_c.pdf

Video cloud service provider Qiniu Intelligent (02567.HK) will start its IPO today (September 30) until next Thursday (October 10), and is expected to be listed on the Hong Kong Stock Exchange on October 16, 2024, under the joint sponsorship of Shenwan Hongyuan Hong Kong and Bocom International.

Qiniu Intelligent plans to globally issue 0.15975 billion shares (approximately 8% of the total shares after the completion of the issuance), with 90% for international offering and 10% for public offering, and an additional 15% over-allotment option. The offer price per share ranges from 2.74 to 2.86 Hong Kong dollars, with a board lot of 1000 shares, raising a maximum of approximately 0.457 billion Hong Kong dollars.

Assuming an offer price of 2.80 Hong Kong dollars per share (midpoint of the offer price range) and the over-allotment option not exercised, Qiniu Intelligent expects total listing expenses of approximately 72.6 million Hong Kong dollars, including 3.8% underwriting commission, 1.4% discretionary incentive fee, HKEX listing fee, SFC transaction levy, HKEX trading fee, HKMA trading levy, legal and other professional expenses, printing, and other expenses.

In this IPO, Qiniu Intelligent has introduced 1 cornerstone investor, Heshun managed by Xiuzhou Gold Control under Jiaxing State-owned Assets Supervision and Administration Commission, to subscribe for 63.9 million shares at the offer price (subscription amount ranging from about RMB 0.175 billion to about 0.183 billion yuan), representing 3.20% of the total shares after global offering.

In this IPO, Qiniu Intelligent expects a net fundraising amount of approximately 0.3747 billion Hong Kong dollars (based on the median offer price): around 38.0% will be used to penetrate and solidify the company's APaaS business application scenarios and expand and grow customer base, focusing on purchasing networks and bandwidth, server storage, enhancing sales and marketing functions, hiring 25 software engineers or APaaS-related industry professionals in the next 5 years; about 20.0% will be used to expand overseas business over the next 36 to 60 months, enhancing overseas IT infrastructure, establishing local teams in Hong Kong and Southeast Asia; about 12.0% will be used to enhance the company's R&D capability and improve the technical infrastructure, including building AIGC capabilities, upgrading and iterating low-code platforms; about 20% will be used for selected mergers, acquisitions, and strategic investments; about 10.0% will be used as working capital and for general corporate purposes.

In this IPO, Shenwan Hongyuan Hong Kong and Bocom International are the joint sponsors, overall coordinators, and joint global coordinators for Qiniu Intelligent, with Huatai International as the overall coordinator and joint global coordinator, and other underwriters include GF Securities (Hong Kong), CMB International, AGwB International, CMBC Securities, China Merchants Securities International, Minsheng Securities, Guosen Securities International, Futu Securities, Livermore Holdings, Tiger Securities.

According to the prospectus, in the shareholding structure after the listing of Qiniu Intelligent, Mr. Xu Shiwei holds 16.52% through Dream Galaxy; Mr. Lv Guihua holds 5.41% through Dustland; Taobao China holds 16.27%; Yunfeng Fund holds 11.44% through Magic Logistics; Innovation Works China holds 7.34% through MPCs; China State-owned Enterprise Structural Adjustment Fund holds 6.74% through Yonglu; Qiming Fund holds 6.29%; Tian Suning-controlled CBC holds 3.80%; FG Venture holds 2.04%; Golden Valley holds 0.23%; Jiashi Fund holds 3.52% through Harvest Yuanxiang; Shanghai Zhangjiang holds 2.35%; Shanghai Zhangjiang Investment holds 1.41%; Telstra Ventures holds 1.41%; Shanghai Shentai holds 1.58%; Bocom Asset Management holds 3.85%; Bocom Fund holds 0.62%; Jumbo Sheen holds 1.35%. Public shareholders hold 8.00%.

Established in 2011, Qiniu Intelligent, as one of China's earliest platforms to provide video cloud services, aims to become a leading one-stop intelligent audio-video service provider worldwide. The company mainly offers audio-video PaaS services (MPaaS), application platform services (APaaS), with customers across various industries including entertainment, social networks, medical, e-commerce, education, media, financial services, autos, telecommunications, and intelligent manufacturing. According to iResearch, based on 2023 revenue, Qiniu Cloud is the third-largest audio-video PaaS service provider in China with a market share of 5.8%; based on 2023 APaaS revenue, Qiniu Cloud is also the second-largest audio-video APaaS service provider in China with a market share of 14.1%.

Link to the Qiniu Intelligent Technology prospectus:

https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0930/2024093000012_c.pdf

The translation is provided by third-party software.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.

七牛智能招股，10月16日香港上市，引入嘉兴国资为基石投资者，申万、交银联席保荐

Qiniu Asia Vets IPO, listed in Hong Kong on October 16th, introduced Jiaxing state-owned assets as cornerstone investors, with CICC and CMB joint underwriters.

音视频云服务商七牛智能(02567.HK)，于今日(9月30日)起至下周四(10月10日)招股，预计2024年10月16日在港交所挂牌上市，申万宏源香港、交银国际联席保荐。

七牛智能是次IPO招股引入1基石投资者，嘉兴市国资委旗下秀洲金控管理的禾顺，将按发售价认购6390万股发售股份(认购金额介于约人民币1.75亿至约1.83亿元之间)，占全球发售完成后总股份的3.20%。

Video cloud service provider Qiniu Intelligent (02567.HK) will start its IPO today (September 30) until next Thursday (October 10), and is expected to be listed on the Hong Kong Stock Exchange on October 16, 2024, under the joint sponsorship of Shenwan Hongyuan Hong Kong and Bocom International.

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