New stock news | The subscription for the IPO of Excellence Real (02687) has ended, with a total subscription amount of HK$191.2 billion, oversubscribed by 3767.5 times.

Zyrexus Intelligence (02687) conducted a public offering from November 28 to December 3 at noon, and the latest subscription has ended. It is expected to be listed for trading on December 8. Market statistics show that as of 10:00 am on Wednesday (December 3), the company's oversubscription amount reached HK$191.2 billion, compared to the public offering amount of HK$50.74 million, oversubscribed by 3767.5 times. According to the issuance plan, Zyrexus Intelligence plans to issue 6.667 million H shares in Hong Kong, with 10% offered for public sale in Hong Kong. The offering price ranges between HK$62.26 and HK$76.10, raising a maximum of HK$510 million. Each board lot consists of 100 shares, with an entry fee of approximately HK$7,686.8. Regarding the use of proceeds, 36.7% will be used for research and development; 31.8% for improving customer service and support capabilities; 21.5% for establishing one or two knowledge graph development centers in selected cities to enhance knowledge graph construction, production, delivery capabilities, and efficiency; and 10% for operating expenses and general corporate purposes. The prospectus shows that Zyrexus Intelligence is a Chinese provider of digital solutions for higher education teaching, focusing on the development, delivery, and operation of digital education content, digital teaching scene services, and products for higher education. The products and services cover all important aspects of teaching, learning, practice, assessment, evaluation, and management. According to Frost & Sullivan data, by 2023, Zyrexus Intelligence ranks second in revenue among all companies in the Chinese higher education digital teaching market, with a market share of 3.4%; and ranks first in revenue among all companies in the Chinese higher education digital teaching content production market, with a market share of 6.2%. For the years 2022, 2023, and 2024, Zyrexus Intelligence's revenue is approximately RMB 400 million, RMB 653 million, and RMB 848 million respectively. During the same period, the company's net profit is -RMB 59.11 million, RMB 81.421 million, and approximately RMB 105 million.