New Stock News | Transwarp Technology (06727) IPO Subscription Closes with 47.7 Times Oversubscription, One Lot Entry Fee at HK$6,161.5

Transwarp Technology (06727) opened its IPO subscription from September 11 to 16, and the subscription period has now closed. The shares will be listed for trading on September 21. Market statistics show that as of 11:00 a.m. on September 16, margin financing for Transwarp Technology amounted to approximately HK$2.08 billion. Based on the HK$42.74 million fundraising amount for the public offering portion, the subscription was oversubscribed by 47.7 times. According to the issuance plan, Transwarp Technology plans to issue 14.011 million H shares, with 5% offered publicly in Hong Kong. The offer price ranges from HK$49 to HK$61, raising up to HK$850 million. The board lot size is 100 shares, with an entry fee of HK$6,161.5 per lot. Regarding the use of proceeds, 30% will be used to enhance and optimize the R&D and innovation capabilities of the entire product and solution stack, driving full-chain technological upgrading through "AI x Data"; 20% will be used to upgrade and expand the product and solution stack; 15% will be used to strengthen sales channels and team building in key markets in China and overseas; 5% will be used to enhance commercialization capabilities and brand influence; 20% will be used for strategic investments; and 10% will be used for working capital and other general corporate purposes. The prospectus shows that Transwarp Technology is one of China's first companies focused on the R&D of AI and big data infrastructure software. The company provides enterprise-grade AI infrastructure software and services covering the entire data lifecycle, encompassing data integration, storage, governance, modeling, analysis, mining, and circulation. Through years of independent R&D, the company has built a new-generation AI infrastructure software matrix, including big data and cloud foundation platforms (TDH and TDC), distributed databases (ArgoDB and KunDB), data development and governance tools (TDS), artificial intelligence platforms for large language models and machine learning operations (LLMOps and MLOps), and a knowledge platform (TKH). Together, these products form an end-to-end solution from data to knowledge and from models to applications, helping enterprises across industries accelerate intelligent transformation and reshape their competitive advantages. For the 2023, 2024, and 2025 fiscal years, the company recorded revenue of approximately RMB491 million, RMB371 million, and RMB447 million, respectively; during the same periods, losses were approximately RMB289 million, RMB344 million, and RMB245 million, respectively.