Hong Kong Stock Market Update: LESI GROUP continues to surge by over 22%, skyrocketing by 240% in the first 3 trading days after its listing.

LESI GROUP continues to surge by over 22%, skyrocketing by 240% in the first 3 trading days after its listing. As of the time of writing, it has risen by 22% to HKD 3.05, with a trading volume of HKD 10.81 million. Established in 2015, LESI GROUP is a Chinese mobile advertising service provider that offers comprehensive mobile advertising services to clients. They market their brands, products, and services on media platforms operated by company media partners. LESI GROUP's services include mobile marketing planning, traffic acquisition, ad material production, ad placement, ad optimization, ad campaign management, and ad distribution. With the rapid economic development, the advertising industry has entered a period of rapid growth. Advertising mediums and communication channels have evolved from street vendors to newspapers, television stations, and beyond. With the advent of the Internet era, mobile advertising has become the largest portion of advertising expenditure. According to data.ai, global mobile advertising spending is projected to reach $362 billion in 2023, an 8% increase year-on-year. The report also forecasts that in 2024, mobile advertising spending will reach $402 billion, an 11% increase year-on-year. The industry's growing demand has sparked a wave of IPOs among related companies.