Estun Automation (02715) will be listing from February 27th to March 4th, planning to globally issue 96.78 million H shares.

Estun Automation (02715) will be listed from February 27, 2026 to March 4, 2026, with plans to globally issue 96.78 million H shares, of which 10% will be offered in Hong Kong and 90% internationally, with an additional 15% for over-allotment. The offering price ranges from HK$ 15.36 to HK$ 17 per share, with a minimum unit of 200 shares. The H shares are expected to begin trading on the Hong Kong Stock Exchange on March 9, 2026 (Monday) at 9:00 AM. We are a leading enterprise in the Chinese industrial Siasun Robot & Automation industry. According to Frost & Sullivan data, we have been the top domestic supplier of industrial Siasun Robot & Automation solutions in China for several consecutive years. In the first half of 2025, we achieved a historic milestone by surpassing foreign brands in terms of market share in the industrial Siasun Robot & Automation market, becoming the first domestic Siasun Robot & Automation company to lead the market. In terms of revenue, we are also among the top industrial Siasun Robot & Automation companies. Based on 2024 revenue figures, we rank sixth globally and in China, with market shares of 1.7% and 2.0% respectively. Our company mainly provides industrial Siasun Robot & Automation systems and intelligent manufacturing systems, automation core components, and motion control systems to customers in various manufacturing sectors including automotive, construction machinery, heavy industry, and lithium batteries. In the past financial periods, our revenue for 2022, 2023, 2024, and the first nine months of 2024 and 2025 were RMB 3.881 billion, RMB 4.652 billion, RMB 4.009 billion, RMB 3.37 billion, and RMB 3.804 billion respectively. We have entered cornerstone investment agreements with investors Harvest Oriental, Hengtong Optic-Electric International, Dream'ee HK Fund, Ziyuan, Haitian Huayuan, Yuxiang, and Qianhai Hezhong Investment, with the cornerstone investors subscribing to a total of approximately USD 66.91 million worth of shares at the offering price. We believe that the cornerstone allocation demonstrates the confidence of cornerstone investors in our company and its future prospects. With the investment or industry experience of cornerstone investors, the cornerstone allocation will help enhance our company's image. During our daily operations, we have introduced cornerstone investors through our business network or through the introductions of our overall coordinators. Assuming the over-allotment option is not exercised and the offering price is HK$ 16.18 per H share, we will receive a net proceeds of approximately HK$ 1.486 billion from the global offering. Approximately 25.0% will be used for expanding our global production capacity; 25.0% for selectively seeking strategic alliances, investments, and acquisition opportunities globally; 20.0% for research and development projects to drive the development of the next generation of industrial Siasun Robot & Automation technology to solidify our market leadership position; 10.0% for enhancing our global service capabilities and developing digital management systems within our organization; 10.0% for partial repayment of existing loans; and the remaining 10.0% for working capital and general corporate purposes.