New Stock News | Nansen Technology (02261) IPO Ends, Margin Subscription Reaches HKD 105.9 Billion, 1,644 Times Over-subscribed

Nansen Technology (02261) is going public from July 30 to August 4, 2026. As of noon on August 4, brokerages such as Futu, Huifa, and Tiger had collectively lent out HKD 105.946 billion to Nansen Technology. Based on the fundraising amount of HKD 64.39 million, the oversubscription multiple for margin financing reached 1,644.34 times. Nansen Technology plans to globally offer 57.5945 million H shares, with approximately 10% allocated for public sale in Hong Kong and about 90% for international sale, along with an over-allotment option of about 15%. The offering price is set between HKD 10.42 and HKD 11.18 per share, with a minimum purchase of 100 shares. The H shares are expected to begin trading on the Hong Kong Stock Exchange at 9:00 AM on August 7, 2026. According to the prospectus, Nansen Technology develops intelligent driving motion control technology and currently provides line control braking solutions. The company focuses on providing mission-critical line control braking solutions for intelligent driving, integrating self-developed control algorithms, software, and hardware across its stack. Based on data from Zhaoshang Consulting, the company is the first in China to apply electric control braking assist solutions (NBS solutions) in the commercial operation of L4 level autonomous vehicles; it was also among the first Chinese companies to supply self-developed electric control braking assist solutions (NBS solutions) to leading domestic electric vehicle manufacturers. In terms of sales of line control braking solutions for 2025, it is the second-largest domestically funded independent third-party supplier. In terms of finances, for the fiscal years 2023, 2024, 2025, and the three months ended March 31, 2026, the company achieved revenues of approximately RMB 272 million, RMB 391 million, RMB 615 million, and RMB 151 million, respectively. During the same period, it recorded annual losses of approximately RMB 201 million, RMB 170 million, RMB 190 million, and RMB 54.882 million.