IPO Daily Brief (3.12): Macrotech Files with Hong Kong Stock Exchange; Chao Hongji Hong Kong IPO Prospectus Expires; Guanghe Technology Begins Subscription, Haitian Convertible Bond Rises 47.57% on First Day

IPO Daily Report (3.12): Maike Tian Files for HKEX; Chao Hongji HK Stock IPO Prospectus Invalid; Guanghe Technology Starts Offering Today

(1) HK Stock Filing

1. Maike Tian

On March 11, the Hong Kong Stock Exchange announced that Shenzhen Maike Medical Technology Co., Ltd. (referred to as Maike Tian) has submitted an application for listing on the Main Board of HKEX, with Morgan Stanley and Huatai International as joint sponsors. The company previously submitted a prospectus to HKEX on September 11, 2025.

The prospectus shows that Maike Tian is a global medical device provider, capable of meeting clinical needs across a wide range of departments, wards, clinics, community health centers, testing agencies, and home care scenarios.

From 2023 to 2025, Maike Tian’s revenue was 1.313 billion RMB, 1.399 billion RMB, and 1.619 billion RMB respectively; during the same period, its net profit (loss) was a loss of 64.508 million RMB, a loss of 96.617 million RMB, and a profit of 50.738 million RMB.

(2) HK IPO Prospectus Invalid

1. Chao Hongji (002345.SZ)

Guangdong Chao Hongji Industrial Co., Ltd. (referred to as Chao Hongji (002345.SZ))’s HK IPO prospectus submitted on September 12, 2025, has been invalidated after six months, on March 12, 2026. CITIC Securities was the sole sponsor at the time of filing.

According to the previous prospectus, Chao Hongji was founded in 1997 and launched its flagship jewelry brand CHJ Chao Hongji. The company is based on the national intangible cultural heritage technique of flower wire embroidery, aiming to commercialize traditional craftsmanship and recreate cultural symbols.

(3) HK Stock Offering

1. Guanghe Technology (01989) — 100 shares per lot, entry fee HKD 7,188 per lot

Guanghe Technology (01989), listed on the A-share market (001389.SZ), is offering shares from March 12 to March 17, 2026. The company plans to issue a total of 46 million H-shares globally, with 10% offered in Hong Kong and 90% internationally. The offering price will not exceed HKD 71.88 per share. With 100 shares per lot, H-shares are expected to start trading on the Hong Kong Stock Exchange at 9:00 AM on March 20, 2026.

The company has entered into cornerstone investment agreements with CPE, Yuanfeng Asset Management, Guotai Junan Investment (for Yuanfeng OTC swaps), Shanghai Jinglin, CITIC Securities International Capital Management (for CITIC Securities back-to-back total return swaps and CITIC Securities client total return swaps), Hong Kong Jinglin, UBS Asset Management Singapore, Huoli, Eastspring, GBAHIL, MY Asian, Baring, Dajia Life, ICBC Wealth Management. The total subscription amount is expected to be approximately USD 190 million.

(4) IPO Review Information

1. Suzhou Lvkong Transmission Technology Co., Ltd.

Review status: Inquiry; Sponsor: China International Capital Corporation; Update date: March 12, 2026; Proposed listing location: Shenzhen Stock Exchange ChiNext

2. Yantai Jiumu Chemical Co., Ltd.

Review status: Inquiry; Sponsor: CITIC Securities; Update date: March 11, 2026; Proposed listing location: Beijing Stock Exchange

3. Zhuhai Tainuo Maibo Pharmaceutical Co., Ltd.

Review status: Inquiry; Sponsor: Huatai United Securities; Update date: March 11, 2026; Proposed listing location: Shanghai STAR Market

(5) CSRC Public Offering Guidance Disclosure

1. Mingna Yang Intelligent Technology (Jiangsu) Co., Ltd.

Guidance agency: Hengtai Changcai Securities; Filing date: March 11, 2026; Disclosure content: Guidance filing report for Mingna Yang Intelligent Technology (Jiangsu) Co., Ltd. on public offering to qualified investors and listing on Beijing Securities Exchange

(6) New Stocks and Convertible Bonds Listing Today

1. Haitian Convertible Bond (113700)

Issue price: HKD 100; Opening price: HKD 130; Closing price: HKD 147.567; Change: +47.57%

(Editors: Song Zheng HN002)

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