HK Stock Connect Insight | SENASIC (06675.HK): Southbound stake rises to 0.60% after Stock Connect inclusion on Sept 7

NewTimeSpace News:On 4 November, SENASIC (06675.HK) published a circular stating that the Board intends to convene the 2026 third extraordinary general meeting at 10:00 a.m. on 24 November at the 4th Floor, Building 10, 198 Zhangheng Road, Pudong New Area, Shanghai, to poll on five resolutions: a proposed general mandate to issue shares, subject to a cap of 20% of the total number of H Shares in issue (excluding treasury shares) as at the date of passing of the relevant resolution; a proposed general mandate to repurchase H Shares, subject to a cap of 10% of the total number of H Shares in issue (excluding treasury shares) as at that date; a resolution on the application for bank facilities and the provision of guarantees by the Company and its subsidiaries; the proposed re-appointment of the auditors; and a resolution on the change of registered capital and amendment of the articles of association. On 5 November, the Company also published the monthly return for October, in which there was no change in the issued shares or treasury shares during the month, with the total number of issued shares remaining at 381,897,620 as at the end of October.

In the Hong Kong market, the shares of SENASIC have retreated steadily from their post-listing highs. The company listed on the Main Board of the Stock Exchange on 17 June 2026 at an offer price of HK$18.36, offering53,407,000 H Shares globally with net proceeds of about HK$913 million; it closed at HK$41.700 on its first trading day, 127.1% above the offer price and the highest close since listing, and traded as high as HK$45.480 intraday on 18 June. The decline continued thereafter, with the lowest close since listing of HK$12.900 on 22 October and the lowest intraday price since listing of HK$11.800 on 23 October. As of the close on 9 November, the shares stood at HK$15.880, down 0.75%.

On southbound holdings, the company was admitted to the Hang Seng Composite Index following the quarterly review results published by Hang Seng Indexes Company on 21 August, with the changes implemented after the close on 4 September and taking effect on 7 September, when the stock was added to the Stock Connect list. According to Choice data, southbound holdings stood at 53,000 shares on 9 September, equal to less than 0.01% of issued H shares, and have continued to build up since, with the largest single-day net addition of 532,800 shares recorded on 30 October, taking holdings to 2,311,800 shares, or 0.60%, on that day. Holdings reached a period high of 2,368,600 shares on 5 November before easing to 2,295,800 shares, or 0.60%, on 6 November.

On the lock-up arrangement, according to the Allotment Results Announcement published on 16 June, the nine cornerstone investors hold an aggregate of 15,413,600 H shares. The final day of the relevant lock-up undertakings is 16 December 2026, with the shares becoming tradable from 17 December.

On institutional research, Guotai Haitong Securities noted in its first coverage report published on 24 September that the company has built a product matrix of intelligent battery cell chips, intelligent tyre chips and intelligent universal sensing chips around wireless sensing SoCs, establishing first-mover advantages in the TPMS, BPS and wireless BMS segments; it added that the intelligent battery cell and wBMS SoC business is expected to benefit from higher battery safety requirements for new energy vehicles and expanding energy storage demand, and is likely to become the next core growth engine.