Pinzhun Laser to list on STAR Market August 18 with issue price of 186.88 yuan, the most expensive new stock this year

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Summary · why it matters

Pinzhun Laser announced it will list on the Shanghai Stock Exchange STAR Market on August 18, 2026, at an issue price of 186.88 yuan per share, making it the highest-priced new stock in China's A-share market this year. The company is publicly offering 10 million shares, with total share capital of 40 million shares after the offering. Revenue in 2025 was 418 million yuan and net profit was 151 million yuan. At the initial listing, unrestricted tradable shares total 7.6178 million shares, accounting for 19.04 percent of total share capital. Shengke Communications signed a sales contract for Ethernet switch chip products with its related party Shenzhen CECport Technologies, with an amount exceeding 50 percent of the company's audited revenue for the most recent fiscal year and exceeding 100 million yuan. It is a long-term contract with a performance period of more than one year, and revenue will be recognized in stages. China Micro Semicon released its 2026 semi-annual report, achieving operating revenue of 726 million yuan, up 44.01 percent year on year, and net profit attributable to shareholders of the listed company of 172 million yuan, up 98.48 percent year on year. China Union Holdings received a notice from FIRES, Canada's foreign investment review and economic security authority, stating that the company's investment in the Arizaro lithium salt lake project in Argentina may affect Canada's national security and may trigger further review. The company acquired 100 percent of Argentum Lithium S.A. for about 175 million US dollars and obtained an 80 percent interest in the project. There is uncertainty over whether the transaction will ultimately pass review.

Impact on assets 8

Others± Mixed
China Union Holdings Ltd
000036
▼ NegativeRegulationrelevance

Canada's FIRES review may affect national security, casting uncertainty on the Arizaro lithium project acquisition.

Off-coverage companies 2

Argentum Lithium S.A.i
Private▼ NegativeRegulationrelevance

Canadian FIRES review may block the Arizaro lithium project acquisition, creating uncertainty.

上海频准激光科技股份有限公司i
Private▲ PositiveCapitalrelevance

Pinzhun Laser lists on STAR Market at 186.88 yuan, the highest-priced new stock this year.