Shares of FORMS SYNTRON (06700) completed their public offering period from September 14 to 17, with the subscription phase now officially closed. Trading on the Hong Kong Stock Exchange is slated to commence on September 22.
As of noon on September 17, based on a public fundraising target of HK$94.34 million, the margin subscription for FORMS SYNTRON reached approximately HK$640 million, reflecting an oversubscription of 5.8 times. Under the offering plan, the company intends to issue 58.961 million H-shares, with 10% allocated for public offering in Hong Kong. The maximum offer price is set at HK$16 per share, allowing the company to raise up to HK$940 million in total. Each board lot consists of 100 shares, with a minimum investment threshold of HK$1,616.1 per lot. CMB International and Guosen Securities (Hong Kong) are serving as joint sponsors for the listing.
The company is a well-established banking financial technology service provider deeply rooted in the Greater Bay Area. It delivers fintech software development services, consulting, and system integration solutions to banks, regulatory bodies, and other financial institutions across Mainland China and Hong Kong, helping clients advance their digital transformation initiatives.
The innovation at FORMS SYNTRON is powered by two proprietary technology platforms: FINNOSafe, which automates compliance throughout the lifecycle of tokenized assets by embedding regulatory rules into smart contracts, and FINNOSmart, an enterprise-grade generative AI platform that ensures data sovereignty. As an early adopter of AI, the company collaborated with Microsoft in 2023 to develop Banking Copilot, which has since evolved into an intelligent agent focused on fraud prevention and compliance assurance.
The company's revenue structure is significantly dependent on a small number of major clients, primarily comprising financial institutions and non-bank financial entities. In 2025, revenue generated from its top five clients accounted for 89.1% of total income. Financially, for the fiscal years 2023, 2024, 2025, and the three-month period ending March 31, 2026, the company recorded revenues of approximately RMB 730 million, RMB 740 million, RMB 631 million, and RMB 156 million, respectively. During the same periods, net profits were approximately RMB 47.38 million, RMB 67.36 million, RMB 74.28 million, and RMB 10.61 million, respectively.
Regarding cornerstone investors, FORMS SYNTRON has secured commitments from several notable parties, including Adrian Cheng, Vice Chairman and Executive Director of Chow Tai Fook (01929) and Non-Executive Director of New World Development (00017); Successful Lotus, an investment holding company wholly owned by Martin Lee Ka-shing, Chairman and Managing Director of Henderson Land (00012); Thalassa Capital; and Yidu Kaiyuan, a wholly-owned subsidiary of Yidu Tech (00259). The total cornerstone investment amounts to HK$120 million.
Regarding the intended use of net proceeds: 35% will be allocated to enhancing research and development capabilities, with a focus on advancing key technologies and services; 25% will go toward improving delivery capabilities to support geographic expansion and customer growth initiatives; 15% will be directed toward strengthening sales capabilities in Mainland China and global markets; 15% will be reserved for potential investments and acquisitions to bolster technology expertise, refine the business ecosystem, and support long-term growth strategies; and the remaining 10% will be used for working capital and general corporate purposes.