Dajin Heavy Industry, a Chinese maker of wind power equipment, plans to raise as much as HK$5.77 billion ($736.5 million) through a Hong Kong listing, according to its prospectus on Thursday.
The Shenzhen-listed company is offering 86.97 million shares at up to HK$66.40 each, with trading expected to begin on June 5.
Dajin said it intends to allocate 55% of the IPO proceeds toward enhancing deep-sea wind power services, while 20% will fund the construction of an assembly base in Europe. Another 10% will go towards global research and development, 5% toward overseas market expansion, and the remaining 10% for working capital.
The company, which manufactures offshore wind foundations, towers and related equipment, said it ranked as Europe’s largest offshore wind foundation supplier by monopile sales value in the first half of 2025, citing data from consultancy firm Frost & Sullivan.
Dajin reported that its net profit more than doubled in 2025 to 1.10 billion yuan ($162.27 million), while revenue climbed 63.3% year-on-year to 6.17 billion yuan.
Huatai Financial and China Merchants Securities are acting as joint sponsors for the listing.
Reuters
