XinjiAo RV (00805.HK) recently launched its IPO and is expected to be listed on the Hong Kong Stock Exchange on January 13, 2024, with Huatai International as the sole sponsor. XinjiAo RV plans to offer a total of 240 million shares globally (accounting for 25% of the total shares after the completion of the offering), of which 90% will be offered internationally and 10% to the public. There is also a 15% over-allotment option. The offering price per share ranges from HK$1.24 to HK$1.64, with 2,000 shares per lot. The maximum proceeds are approximately HK$394 million. Assuming the offering price per share is HK$1.44 (the midpoint of the offering price range) and the over-allotment option is not exercised, XinjiAo RV expects total listing expenses to be approximately HK$53 million, including 3% underwriting commission, 1% discretionary fee, Hong Kong Stock Exchange listing fee, Securities and Futures Commission transaction levy, HKEX transaction fee, Financial Services and the Treasury Bureau transaction levy, legal and other professional fees, For this IPO of XinjiAo RV, the net proceeds are approximately HK$293 million (calculated based on the midpoint of the offering price range): approximately 63.3% will be used to establish new production bases and upgrade existing production plants; approximately 16.7% will be used to expand business operations, further expand the company's customer base and enhance customer stickiness by strengthening the company's sales and distribution network, and further increase market share in the Australian and New Zealand RV industry; approximately 10.0% will be used for ongoing product research and development work; and approximately 10.0% will be used for the company's working capital and general corporate purposes. For this IPO of XinjiAo RV, Huatai International serves as the sole sponsor, overall coordinator and joint global coordinator. CLSA and CMB International serve as overall coordinators and joint global coordinators. Other underwriters include BOC International, Shenwan Hongyuan Hong Kong, First Shanghai Securities, Fosun International Securities, Yiying Securities, Livermore Securities, TradeGo Markets, Wanhai Securities and Yingbao Securities; KPMG is its auditor; Hawtkins & Wood and Jia Yuan (Hong Kong) serve as the company's Chinese legal counsel and Hong Kong legal counsel respectively; Jingtian & Gongcheng and Jingtian & Gongcheng (Hong Kong) serve as the underwriters' Chinese legal counsel and Hong Kong legal counsel respectively; Frost & Sullivan serves as its industry advisor. According to the prospectus, in the shareholding structure of XinjiAo RV after listing, Mr. Miao Xuezhong, Ms. Wang Danhong (the couple) and their daughter Ms. Miao Wanyi hold approximately 74.38% of the shares through Snowy Limited. NRV Benefit Limited, the employee shareholding platform, holds 0.62% of the shares; public shareholders hold 25.00% of the shares. As a leading RV company with extensive business networks in Australia and New Zealand, XinjiAo RV designs, develops, manufactures and sells custom towable RVs. According to data from Frost & Sullivan, XinjiAo RV ranks second in market share in the Australian and New Zealand RV industry based on 2023 sales volume. XinjiAo RV has developed and launched nine new models under Regent and six new models under Snowy River, and upgraded 21 models under Snowy River. In addition, XinjiAo RV is currently developing pioneering towable electric RV models. According to data from Frost & Sullivan, XinjiAo RV is one of the first RV experts to commercialize electric RV solutions. Link to XinjiAo RV's prospectus: https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1231/2024123100018_c.pdf © 2021 Meishun (Hong Kong) Management Consulting Co., Ltd. and Meishun (Hangzhou) Management Consulting Co., Ltd. All rights reserved. Meishun Meiyin (Hangzhou) Consulting Management Co., Ltd. is an onshore subsidiary of Hong Kong Meishun Management Consulting Co., Ltd. under the same ultimate controlling party. Both companies share the same ultimate controlling party and are operated under the same China-based management, and the companies comply with the laws of Hong Kong and mainland China.