Shenzhen Woer Heat-Shrinkable Material Co., Ltd. (Ticker: 9981 HK) is a China-based manufacturer specializing in electrical power transmission solutions, specifically heat shrink tubing, wiring and connectors. The company plans to list on the Hong Kong Stock Exchange on February 13, 2026. It intends to offer approximately 140 million H-shares at a fixed price of HKD 20.09 per share, aiming to raise HKD 2.81 billion (approximately US$359.9 million).

According to its prospectus, Shenzhen Woer is the global leader in the heat-shrinkable materials industry with a reported 20.6% market share and ranks fifth globally in telecoms cables. Its diverse product portfolio includes high-speed copper cables, new energy vehicle (NEV) charging guns, and power battery safety protection systems. For the fiscal year 2024, the company reported revenue of RMB 6.92 billion. The company plans to utilize the IPO proceeds to enhance research and development, expand production capacity, and support brand promotion and strategic acquisitions. The offering is jointly sponsored by China Merchants Securities (HK) and China Securities (International).