06687 聚水潭
JST GROUP
JST GROUP
| Listing Date | 2025/10/21 |
| Listing Price | 30.600 |
Subscription Result
- Subscription Rate1,952.95x
- Guarantee One Lot Size4000 lot
- One Lot Success Rate0.13%
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IPO Detail
COMPANY PROFILE
JST Group offers a broad range of SaaS products and services in one-stop. Jushuitan ERP is the Group’s cornerstone SaaS product, serving the core demands of merchants associated with their fulfillment of e-commerce orders across major platforms.
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According to the Report, the Group is China’s largest e-commerce SaaS ERP provider in terms of relevant revenue in 2024, with a market share of 24.4%, exceeding the combined market share of the second through the fifth largest players. The Group also ranked first in China’s e-commerce operation SaaS market in terms of total SaaS revenue in 2024 with a market share of 8.7%.
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As of June 30, 2025, the Group served 92.6 thousand SaaS customers across various categories. Jushuitan e-commerce SaaS has connected with over 400 e-commerce platforms in China and across the world, representing one of the broadest platform coverages in the e-commerce SaaS industry in China. In 2024, the Group’s net dollar retention rate was 115%.
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With the Group’s SaaS products focused on e-commerce industry, its customers are primarily e-commerce merchants across various e-commerce platforms.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Software & Services |
| Major Business Area | China |
| Board Lot | 100 |
GLOBAL OFFERING
| No. of Offer Shares | 68.17M shares |
| No. of International Offer Shares | 61.35M shares |
| No. of HK Offer Shares | 6.82M shares |
| Offer Price | $30.60 |
| Stock Code | 6687 |
| Sponsor(s) | China International Capital Corporation Hong Kong Securities Limited, J.P. Morgan Securities (Far East) Limited |
| Underwriter(s) | China International Capital Corporation Hong Kong Securities Limited, J.P. Morgan Securities (Asia Pacific) Limited, Futu Securities International (Hong Kong) Limited |
TIME TABLE
| Application Period | Oct 13 (Mon) - noon, Oct 16 (Thu) |
| Price Determination Date | -- |
| Result Announcement Date | On or before Oct 20 (Mon) |
| Result Announcement Date | On or before Oct 20 (Mon) |
| Result Announcement Date | On or before Oct 21 (Tue) |
| Dealings in Shares commence on | Oct 21, 2025. (Tue) |
Reallocation of Shares Offered
Sales Statistics (HKD)
| Offer Price | $30.60 |
| Capitalization | 13.00B |
| NAV / share ($) | $2.07 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 30.6, the net proceeds raised would be HKD 1.94B, of which |
| 55% : Research and development capabilities to enrich product offerings |
| 25% : Strengthening sales and marketing capabilities |
| 10% : Strategic investments |
| 10% : General corporate purposes |
IPO NEWS
| 21/10/2025 16:08 |
| {New Stock}JST GROUP(06687) ends up 23.86% at HK$37.9 |
| 21/10/2025 09:20 |
| {New Stock}JST GROUP(06687) opens up 24.18% at HK$38 |
| 20/10/2025 18:35 |
| {New Stock}JST GROUP ends up 37.26% at HK$42 on grey market |
| 20/10/2025 16:20 |
| {New Stock}JST GROUP up 30.78% at HK$40.02 on grey market |
Related Document
| Prospectus |  Chinese Version | 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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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).