New stock news | Rapid Innovation (03355) has concluded its initial public offering with a total subscribed amount of HKD 203.96 billion, oversubscribed by 1193.68 times.

FeiSu Innovation (03355) conducted its initial public offering from March 13, 2026 to March 18, 2026, and the latest IPO has ended. According to market sources, FeiSu Innovation publicly sold shares to 197,000 people, with a subscription amount of 203.096 billion Hong Kong dollars, based on the public offering of 170 million Hong Kong dollars, oversubscribed by 1193.68 times. FeiSu Innovation plans to globally sell 40 million H shares, with 10% sold in Hong Kong and 90% sold internationally. The highest offering price is 41.6 Hong Kong dollars, with 100 shares per lot and an entrance fee of 4202 Hong Kong dollars per lot, raising up to 1.66 billion Hong Kong dollars. The company expects to be listed for trading on March 23 (next Monday), with CICC, China Securities Co., Ltd International, and CMSC International as joint sponsors. FeiSu Innovation has introduced a total of 11 cornerstone investors, including Haoran Capital, Great Holding under Yuan Yonggang, WT Asset Management, Caitong SEIII, Juming Investment, Prospect, SCGC Capital under Deep Innovation Investment, Aether, GF Fund HK under GF SEC, Kaifeng Investment, and Wider Huge, with a subscription amount of 90.22 million US dollars. In terms of the use of funds raised, approximately 40% will be used for laboratory renovation, recruitment of talents, hardware and software procurement to enhance the digitization of the technology platform; approximately 30% will be used to establish a regional headquarters in Singapore, strengthen the multi-layer warehouse system, upgrade the automation level of the workflow, expand the service network, recruit an international management team, and enhance delivery capability in major overseas markets; approximately 20% will be used for digitization of network solutions and service business platforms; approximately 10% will be used for working capital and general corporate purposes. According to Frost & Sullivan data, based on revenue in 2024, FeiSu Innovation is the world's second largest online DTC network solutions provider with a market share of 6.9%. The company's comprehensive network solutions enable global enterprises to achieve efficient digital transformation. Through the online sales platform FS.com, the company provides scalable, cost-effective, and comprehensive one-stop network solutions. These solutions include high-performance network equipment, scalable network device operating systems, and cloud network management platforms. As of the last practicable date, FeiSu Innovation has served over 480,000 customers in more than 200 countries and regions, covering about 60% of the Fortune 500, which are located in various industries including information technology, financial services, healthcare, education, automotive, and electronics. Financially, in the fiscal years 2022, 2023, 2024, and the nine months ended September 30, 2024 and 2025, FeiSu Innovation achieved revenues of approximately 1.988 billion, 2.213 billion, 2.612 billion, 1.954 billion, and 2.175 billion RMB respectively; while profits for the same periods were approximately 365 million, 457 million, 397 million, 351 million, and 423 million RMB respectively.