Impression Dahongpao Officially Lists on HKEX Patrons Acts as Joint Bookrunner and Joint Lead Manager

On the morning of December 22, Impression Dahongpao Co., Ltd. (hereinafter referred to as "Impression Dahongpao"; Stock Code: 2695.HK) officially listed on the Main Board of the Hong Kong Stock Exchange (HKEX). The final offer price was determined at HK$3.60 per share. Patrons acted as the Joint Bookrunner and Joint Lead Manager. The public offering tranche of this IPO was oversubscribed by approximately 3,397 times.

Prior to the listing, Impression Dahongpao conducted its global offering from December 12 to December 17, 2025, issuing 36.1 million H Shares. The offer price ranged from HK$3.47 to HK$4.10 per share, with estimated net proceeds between HK$125 million and HK$148 million.

According to the prospectus, Impression Dahongpao intends to allocate the net proceeds in the following proportions:

• Approximately 23% will be used to upgrade the theater facilities and iterate stage technology for the Impression Da Hong Pao real-scene landscape performance;

• Approximately 28.6% will be used to deepen the development and construction of the Impression Cultural Tourism Town;

• Approximately 20% will be used for the acquisition of new cultural tourism performance projects;

• Approximately 11% will be used for brand marketing and promotion to enhance brand awareness and business influence;

• Approximately 10% will be used for working capital and general corporate purposes.

According to Patrons, Impression Dahongpao is deeply rooted in the cultural tourism performance market. Based on 2024 box office revenue, its flagship project, Impression Da Hong Pao, ranked third among real-scene landscape performances in China, establishing a market leadership position with core competitive advantages.

As the  Joint Bookrunner and Joint Lead Manager for this IPO project, the Patrons team fully mobilized its extensive market resources to provide Impression Dahongpao with full-cycle listing solutions. Patrons anticipates that Impression Dahongpao will leverage this milestone to further consolidate its industry standing and drive cultural tourism innovation through the capital markets.

If there is any inconsistency or ambiguity between these two versions, the Chinese version shall prevail.