Terms of Service

Version 1.0 · Effective 2026-10-17

1. Introduction & acceptance

Welcome to HK IPO Calculator (the "Service"), provided by Tiezheng Zhang, an individual developer operating under the laws of the People's Republic of China and based in Shanghai, China ("we", "us"). Website: https://hk-ipo-calc.pages.dev/en/.

By using this website, downloading or using the "HK IPO Ledger" Chrome extension, or buying a Pro licence, you confirm that you (a) are at least 18 years old; (b) have read and agree to these Terms; and (c) agree to our Privacy Policy and Refund Policy. If you do not agree, do not use the Service. If you keep using the Service after an update, you accept the updated Terms.

2. Service description

The Service is digital software delivered over the internet. It consists of: (1) a free web-based Hong Kong IPO fee calculator and guides; (2) the "HK IPO Ledger" Chrome extension, which offers IPO cost calculation, an application ledger, statistics and a ticker converter; and (3) paid Pro licences for the extension (digital licence keys). All calculations run locally on your device. The Service does not provide securities dealing, subscription on your behalf, investment advice, stock picks or any promise of returns. It does not show or sell any securities. We are not affiliated with Hong Kong Exchanges and Clearing Limited or with any broker.

Pro licences are digital and intangible. Your key is available as soon as payment is confirmed, so delivery is immediate. Refunds therefore follow Section 7 and the Refund Policy.

3. No account; keeping your key safe

You do not need an account. A Pro key is tied to your payment email and is for your personal use on your own devices. Keep it confidential. Do not publish, share, resell or rent it. If someone else is using your key, email ztz1024666@gmail.com straight away.

4. Plans

Current plans and prices are on the Pricing page:

• Free (¥0)
• HK IPO Ledger Pro (1 year): CNY 39, one-time payment, valid for 1 year (366 days)
• HK IPO Ledger Pro (lifetime): CNY 89, one-time payment, never expires

We may change features or prices. Changes never shorten the term or remove the Pro features of a licence you have already bought.

5. Billing & payment

5.1 One-time payment, no auto-renewal. Each purchase is a single transaction. When you complete checkout, you authorise a single charge for the amount shown. We do not store your payment method, and we never auto-renew or charge you again. To keep Pro after the 1-year term ends, you need to buy again.

5.2 Merchant of Record. Waffo Pancake is the Merchant of Record for all orders. It handles payment processing, receipts, refunds and applicable taxes. Your statement may show a Waffo-related merchant name. Card data is processed only by Waffo Pancake and its PCI-DSS certified partners. We never see or store it.

5.3 Taxes. Waffo Pancake calculates and collects any applicable taxes based on where you are. The checkout shows the final amount.

6. Cancellation

Pro is a one-time purchase, not a subscription, so there is no renewal to cancel. If you want to stop, disable or uninstall the extension. You will not be charged again.

7. Refunds

See the Refund Policy. In short:

• First purchases get a 7-day no-questions-asked full refund.
• Duplicate charges are always refunded.
• Your statutory rights are preserved.
• Refunds are paid back to your original payment method by Waffo Pancake.
• Once refunded, the licence key is void and must not be used.

8. Billing disputes

If you think a charge is wrong, please email ztz1024666@gmail.com before you dispute it with your bank. We reply within 2 business days, and we resolve confirmed billing errors within 5 business days.

9. Intellectual property & licence

We own the software, text and design of the Service. We grant you a personal, non-exclusive, non-transferable licence to use it. The data you enter and the records you create belong to you and stay on your device.

10. Acceptable use

You agree not to:

• (a) use the Service for anything unlawful;
• (b) crack, bypass or forge the licence check, or create or distribute keys we did not issue;
• (c) resell, rent or sublicense the Service or a key without our written consent;
• (d) interfere with the Service or the licence server, including by sending large volumes of automated requests;
• (e) present the Service's results as investment advice from a licensed professional.

11. Data, privacy & security

Our Privacy Policy explains how we handle personal data. Card data is processed only by Waffo Pancake. It never passes through or is stored on our servers.

12. Disclaimers & limitation of liability

12.1 The Service is provided "as is" and "as available". We work to keep the formulas consistent with the published rules (each guide cites its sources). However, we do not guarantee that the Service is error-free or that rules and rates will not change.

12.2 Not investment advice. Results depend entirely on the inputs and assumptions you enter. They are arithmetic, not forecasts, and they are not investment, tax or legal advice. IPO subscriptions carry risk and can lose money. Always rely on the prospectus, the allotment results and your broker's actual charges.

12.3 To the maximum extent permitted by law, we are not liable for indirect, incidental, consequential or punitive damages, including investment losses. Our total liability is limited to the amount you paid us in the 12 months before the event that gave rise to the claim.

13. Breach, suspension & termination

We may refuse or stop issuing keys, stop support, or mark affected keys as void (no re-issue, and a block in later extension versions), without a refund, if you:

• materially breach these Terms, especially Sections 3 and 10; or
• are reasonably suspected of fraud, stolen payment methods or key sharing.

If we discontinue Pro for any reason other than your breach, we will refund you pro rata for the unused term. For lifetime licences, the calculation assumes a 3-year term. You may stop using the Service at any time.

14. Governing law & disputes

These Terms are governed by the laws of the People's Republic of China, which for this purpose excludes the laws of Hong Kong, Macau and Taiwan. If a dispute arises, please email ztz1024666@gmail.com first so we can try to resolve it informally. Disputes that cannot be resolved this way go to the competent people's court where we are located (Shanghai, China). Mandatory consumer rights are not affected.

15. General

We may update these Terms. We will announce material changes on this page at least 14 days before they take effect, together with a new version number and date. If any provision is found unenforceable, the rest of these Terms remains in effect. If the Chinese and English versions conflict, the Chinese version prevails.

16. Contact

Operator: Tiezheng Zhang (individual developer, Shanghai, China)
Support, billing, refunds, legal and privacy: ztz1024666@gmail.com (we reply within 2 business days)