EACON prices Hong Kong IPO at HK$87.92 per share; public offering 158-times subscribed

EACON Group Co., Ltd. has finalized the offer price for its H-share listing in Hong Kong at HK$87.92 per share, the top end of the marketed range.

The Global Offering comprises 26.13 million H shares, split 10%/90% between the Hong Kong Public Offering (2.61 million shares) and the International Offering (23.52 million shares). An additional 3.92 million shares have been over-allocated; these may be covered by the 15% over-allotment option or secondary-market purchases.

At the final price, expected market capitalization on the July 8 listing date is about HK$13.00 billion, with public investors holding 44.88% of the enlarged share capital—well above the 15% minimum free-float requirement.

Fund-raising metrics • Gross proceeds: HK$2.30 billion • Estimated listing expenses: HK$122.72 million • Net proceeds to the company: HK$2.17 billion

Demand snapshot • Hong Kong Public Offering: 110,386 valid applications; 157.82-times oversubscribed. • International Offering: subscribed 10.50-times by 74 placees; the top 25 investors took 96.53% of the tranche.

Cornerstone tranche Eleven cornerstone investors absorbed 13.01 million shares, representing 49.79% of the offer and 8.80% of post-listing H-shares. Key participants include ZIJINNING (1.78 million shares), Fidelity International (2.67 million), JPMorgan Asset Management (2.23 million) and Barings (1.34 million). All cornerstone shares are subject to a six-month lock-up expiring 7 January 2027.

Shareholding structure and lock-ups • Controlling shareholders: 52.04 million shares (35.19% of total) locked until 7 July 2029 for the two founders and until 7 July 2027 for other controlling entities. • Existing shareholders (non-controlling): 69.70 million shares (47.13% of total) locked until 7 July 2027.

Liquidity safeguards No single placee received more than 10% of the enlarged share capital, and the three largest public shareholders will hold less than 50% of public float on listing.

Trading details EACON shares will begin trading on the Stock Exchange of Hong Kong on 8 July 2026 under the stock code 07687, in board lots of 50 shares.