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| SW Tech RMB 645 million IPO |
| SW Tech¡¯s RMB 645 million IPO is the first IPO completed by CSFS as sponsor since our incorporation. CSFS helped client complete the whole process from launch to listing within only one year, and successfully completed this milestone offering with 91x offline oversubscription and 149x online oversubscription in spite of challenging market conditions. |
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