Transwarp dips in Hong Kong trading debut
AI infrastructure software provider Transwarp Technology (Shanghai) Co. Ltd. (6727.HK) opened flat in its Hong Kong trading debut on Monday, then edged slightly lower to end the morning session at HK$47.82, down 2.4% from its listing price.
The company sold 14.01 million shares for HK$49 each, raising net proceeds of nearly HK$630 million ($80.77 million). The public offering for local investors was oversubscribed by nearly 73 times, while the international offering was oversubscribed by 0.42 times. Two cornerstone investors subscribed for 1.51 million shares, accounting for 10.75% of the offering.
Transwarp’s revenue rose 20.6% year-over-year to 447 million yuan in 2025, while its loss narrowed by 28.6% to 245 million yuan. The company recorded revenue of 174 million yuan in the first half of this year, up 14.1% year-over-year, while its loss narrowed to 113 million yuan from 143 million yuan a year earlier.
The company will use 30% of the IPO proceeds for R&D, 20% to upgrade and expand its products and solutions, 15% to strengthen its sales channels and team building, 5% to enhance its commercialization capabilities and brand influence, and 20% on strategic investments. The remaining 10% will be used as working capital.
By Lau Chi Hang
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