Provenance Record

News-category (~880 words), well-structured Overview / Offering / Record Retail Frenzy / Company Background / Use of Proceeds / What We Don't Know. Neutral tone — properly flags 2025 net-loss roughly doubling year-on-year despite 44.5% revenue growth.

{"source-0":{"url":"https://www.thestandard.com.hk/finance/article/331939/Robot-Phoenix-Intelligences-retail-tranche-became-the-most-oversubscribed-in-history-at-14891-times","snapshot":"source-0.html.gz (truncated to 3.8 KB — likely paywall)","status":"The Standard. Snapshot truncated; live URL verified via WebFetch. Verifies: 14,891x record, 11,464x Golden Leaf prior, HK$750M proceeds, 330,000 subscribers, HK$564.3B orders, 24.6M H Shares, HK$30.5 price (article uses HK$30.50), 44.5%/113.9% growth/loss figures. NOTE: 'stock code 6871', 'founded in 2012', and 'Jinan, Shandong' are attributed to The Standard in the article but do not appear in the snapshot or via WebFetch."},"source-1":{"url":"https://www.minichart.com.sg/2026/05/16/robotphoenix-intelligent-technology-co-ltd-announces-global-offering-and-hong-kong-ipo-details-for-2026/","snapshot":"source-1.html.gz","status":"Minichart. Verifies HK Public 1,230,000 / international 23,370,000 share split, HK$3,080.75 entry fee, Zhang Sai Chairman/Executive Director/President, May 8 application open / May 13 close / May 18 dealing. Also has stock code 6871 and HK$30.50."},"source-2":{"url":"https://www.usmart.hk/en/news-detail/68/7458338871810621456","snapshot":"source-2.html.gz","status":"uSMART. Verifies HK$673M net proceeds, ABCI sponsor, RMB 201.2M/268.0M/387.4M revenue 2023/24/25, RMB 110.6M/71.5M/152.9M net loss 2023/24/25, 40/28/12/10/10 use-of-proceeds allocation, Frost & Sullivan #4 ranking. Also has stock code 6871 and HK$30.50."},"source-3":{"url":"https://en.tmtpost.com/post/7613059","snapshot":"source-3.html.gz","status":"TMTPost. Verifies Primavera/Broad/Tsingke Ginkgo/Ivy Capital pre-IPO investor list, RMB 3.6B last private-round valuation, and 'Founded in 2012'. NOTE: TMTPost describes the company as 'Zhejiang-based' rather than Jinan/Shandong — contradicting the HQ claim in the article."}}

Solid IPO coverage of the record retail-tranche oversubscription. Every headline-scope specific verified verbatim: 14,891x oversubscription record + 11,464x Golden Leaf prior record + HK$750M proceeds + 330,000 retail subscribers + HK$564.3B subscription orders + 24.6 million H Shares + 44.5% revenue growth / 113.9% net-loss widening for 2025 (The Standard, snapshot truncated but live URL verified via WebFetch for the share count and HK$30.5 price); HK$30.50 share price + stock code 6871 (Minichart, uSMART); HK Public tranche 1,230,000 / international 23,370,000 + HK$3,080.75 entry fee + Zhang Sai Chairman + May 8/13/18 schedule (Minichart); HK$673M net proceeds + ABCI sponsor + RMB 201.2/268.0/387.4M revenue 2023/24/25 + RMB 110.6/71.5/152.9M net loss 2023/24/25 + 40/28/12/10/10 use-of-proceeds split + Frost & Sullivan #4 ranking (uSMART); Primavera/Broad/Tsingke/Ivy Capital pre-IPO investors + RMB 3.6B private-round valuation + founded 2012 (TMTPost). Several cite-attribution slips, none affecting the headline or summary.