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Stock Code   IPO News IPO Timetable
IPO Detail
06727 星環科技
TRANSWARP
Listing Date2026/09/21    Listing in 3 Days
Listing Price49.000
Grey Market Performance
Last updated: 18/09/2026 19:59  Refresh
  • Bright Smart
    down 48.140 -0.860 (-1.755%)
    High
    55.000
     
    Low
    46.800
    Volume
    31,300
    One Lot Profit
    -86.00
  • Phillip
    down 48.360 -0.640 (-1.306%)
    High
    80.000
     
    Low
    46.200
    Volume
    724,000
    One Lot Profit
    -64.00
  • Futu
    down 48.380 -0.620 (-1.265%)
    High
    58.000
     
    Low
    46.680
    Volume
    852,400
    One Lot Profit
    -62.00
  • Bid
  • Ask
  • 48.140
  • (1) 200
  • 200 (1)
  • 48.500
  • 48.120
  • (1) 900
  • 0 (0)
  • 48.520
  • 48.100
  • (1) 2K
  • 0 (0)
  • 48.540
  • 48.080
  • (0) 0
  • 0 (0)
  • 48.560
  • 48.060
  • (0) 0
  • 0 (0)
  • 48.580
  • 48.040
  • (0) 0
  • 0 (0)
  • 48.600
  • 48.020
  • (0) 0
  • 0 (0)
  • 48.620
  • 48.000
  • (1) 300
  • 0 (0)
  • 48.640
  • 47.980
  • (0) 0
  • 0 (0)
  • 48.660
  • 47.960
  • (0) 0
  • 100 (1)
  • 48.680
  • Bid
  • Ask
  • 48.320
  • (1) 300
  • 400 (1)
  • 48.360
  •  
  • (1) 400
  • 100 (1)
  •  
  •  
  • (0) 0
  • 0 (0)
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  • (0) 0
  • 0 (0)
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COMPANY PROFILE

Transwarp Technology (Shanghai) Co., Ltd. is a leading AI infrastructure software provider in China. The Group provides enterprise-grade AI infrastructure software and services that cover the full data lifecycle, from integration, storage, and governance to modeling, analytics, mining, and circulation. In terms of revenue, it was the fifth largest AI infrastructure software provider in China with a market share of 2.7% in 2025.

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The Group infrastructure software consists of proprietary software products that support enterprise-grade data storage, management, analytics and AI workloads. The Group consulting services comprise pre-project consulting and customized solution design services that assist enterprise and government customers in planning and architecting digital transformation and AI adoption initiatives.

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As of March 31, 2026, the Group products and solutions had been deployed across more than ten industries, including finance, government, energy, healthcare, transportation, and manufacturing, serving over 1,800 customers, including 105 companies listed in the Fortune China 500.

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The Group has two main categories of customers: end‑users that directly purchase the Group’s products and solutions, and ISVs and SIs that embed the Group’s products and solutions into their own products to meet the specific requirements of end‑users; and authorized distributors that enter into distribution agreements with the Group.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureSoftware & Services
Major Business AreaChina
Board Lot100
GLOBAL OFFERING
No. of Offer Shares14.01M H shares
No. of International Offer Shares13.31M H shares
No. of HK Offer Shares0.70M H shares
Offer Price$49.00 - $61.00
Stock Code6727
Sponsor(s)Haitong International Capital Limited
Underwriter(s)Haitong International Securities Company Limited, Futu Securities International (Hong Kong) Limited, Shenwan Hongyuan Securities (H.K.) Limited, Webull Securities Limited, BOCOM International Securities Limited, Huafu International Securities Limited, CMB International Capital Limited, TFI Securities and Futures Limited, SPDB International Capital Limited, First Securities (HK) Limited
TIME TABLE
Application PeriodSep 11 (Fri) - noon, Sep 16 (Wed)
Price Determination DateSep 17 (Thu)
Result Announcement DateOn or before Sep 18 (Fri)
Result Announcement DateOn or before Sep 18 (Fri)
Result Announcement DateOn or before Sep 21 (Mon)
Dealings in Shares commence onSep 21, 2026. (Mon)
Reallocation of Shares Offered
Sales Statistics (HKD)
Offer Price$49.00 - $61.00
Capitalization (H Shares)686.50M - 854.70M
NAV / share ($)$10.71 - $11.9 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 55, the net proceeds raised would be HKD 700.90M, of which
30% : Enhance and optimize R&D and innovation capabilities of entire product and solution stack to drive full-chain technology upgrades through “AI × Data;”
20% : Upgrading and expanding product and solution stack
15% : Strengthen sales channels and team building in key markets both in the PRC and overseas
5% : Improving commercialization capability and brand influence
20% : Strategic investments
10% : Working capital
IPO NEWS
18/09/2026 18:35
{New Stock}TRANSWARP(06727) ends down 1.31% on grey market
18/09/2026 16:20
{New Stock}TRANSWARP up 3.27% at HK$50.6 on grey market
Related Document
Prospectus Prospectus  Chinese VersionProspectus  English Version
Remark： The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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