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Smart Pointer Group Holdings Ltd
SPGHFiledSmart Pointer Group Holdings Ltd · Nasdaq Capital Market · latest filing 2026-06-29
One-minute decisionBASIC RESEARCHSource completeness · 91%
IPO research
Smart Pointer is a profitable Hong Kong temperature-controlled logistics and warehousing operator, but its flat full-year revenue, cash below bank debt, rising receivable days, customer concentration, short warehouse tenure and extreme dual-class founder control make the proposed IPO high risk. The June 29, 2026 F-1 remains preliminary: the $5-$6 range, SPGH Nasdaq application, underwriter allocation and closing date are not final.
The June 29, 2026 F-1 proposes 5,000,000 primary Class A shares at $5.00-$6.00, plus a 750,000-share over-allotment option, and says the Nasdaq Capital Market application uses the symbol SPGH.
Capital destination
Awaiting verificationF-1 · 2026-06-29
Share-type percentages are not net-proceeds percentages. Amounts retain their stated gross/net basis; do not add unlike bases.
Check the source · F-1 ↗Capital destination
Awaiting verificationF-1 · 2026-06-29
Share-type percentages are not net-proceeds percentages. Amounts retain their stated gross/net basis; do not add unlike bases.
Check the source · F-1 ↗BOOKRUNNERS / LEAD UNDERWRITERSBookrunners / lead underwriters
NOT YET DISCLOSEDNames not yet published
Fully diluted valuation bridge
| Status | Reference |
|---|---|
| Awaiting verification | Source ↗ |
Basic-price scenario
A verified single offer price and basic post-offer share count are required. This is a data gap, not a paid lock.
Check the source · F-1 ↗Holder data awaits verification
A 20-vote Class B structure leaves Ting Fo Chan with 91.39% voting power after the base offering. · 2026-06-29
A 20-vote Class B structure leaves Ting Fo Chan with 91.39% voting power after the base offering.
One disclosed holder; not a complete ownership distribution.Check the source · F-1 ↗Conditional lock-up timeline
| Status | Reference |
|---|---|
| Awaiting verification | Source ↗ |
Financial quality and runway
| Status | Reference |
|---|---|
| Awaiting verification | Source ↗ |
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The founder retains 91.39% voting power after the base IPO and can control director elections and major corporate transactions.
- Potential impact
- Awaiting verification
- Monitor
- SEC effectiveness and final prospectus/pricing establishing the final price, underwriter allocations, Nasdaq approval, first trading date and closing date.