Hengyunchang announced that the company's initial public offering of shares and its application for listing on the Science and Technology Innovation Board has been reviewed and approved by the Shanghai Stock Exchange Listing Review Committee and approved for registration by the China Securities Regulatory Commission. It is proposed to issue 169.305.59 million shares, accounting for 25.01% of the total share capital after issuance, and an initial strategic placement of 3,3861.11 million shares, accounting for 20%. The distribution uses a combination of targeted placement to strategic investors, offline inquiry and placement, and online pricing distribution. The initial inquiry date is January 13, 2026, the offline and online subscription dates are January 16, and the offline and online payment dates are January 20.

Hengyunchang announced that the company's initial public offering of shares and its application for listing on the Science and Technology Innovation Board has been reviewed and approved by the Shanghai Stock Exchange Listing Review Committee and approved for registration by the China Securities Regulatory Commission. It is proposed to issue 169.305.59 million shares, accounting for 25.01% of the total share capital after issuance, and an initial strategic placement of 3,3861.11 million shares, accounting for 20%. The distribution uses a combination of targeted placement to strategic investors, offline inquiry and placement, and online pricing distribution. The initial inquiry date is January 13, 2026, the offline and online subscription dates are January 16, and the offline and online payment dates are January 20.