New Stock First Day | Tianjin Jianfa First Listed, Opening at 24.8% Lower in Early Trading

According to the Zhitong Finance and Economics APP, Tianjin Jianfa (02515) has made its debut on the stock market. The announcement shows that the company has issued approximately 53.95 million shares, priced at HKD 2.5 per share, with a trading unit of 2000 shares. The net proceeds are approximately HKD 92.18 million. As of the time of writing, the stock has fallen by 24.8% to HKD 1.88, with a trading volume of HKD 26.8491 million. Tianjin Jianfa is a construction group in Tianjin, providing comprehensive construction services. According to a Frost & Sullivan report, in 2022, there were 2547 construction enterprises in Tianjin. Based on the construction revenue in Tianjin in 2022, the company's market share in the entire construction market is 0.1%. Based on the revenue generated from municipal public works in 2022, the company ranks fourth among private municipal public works companies in Tianjin, accounting for approximately 0.2% of the market share. During the reporting period, the company mainly engaged in construction business and was committed to providing customers with high-quality construction services. According to the Frost & Sullivan report, in 2022 and 2023, there were 2547 and 3351 construction enterprises in Tianjin, respectively. Only three and four construction companies respectively hold qualifications for both petrochemical engineering and highway engineering construction, with the company being the only private construction company among them. Compared to companies with fewer qualifications, in addition to qualifications for petrochemical engineering and highway engineering construction, the company also holds qualifications for municipal public works and building construction, enabling the company to participate in a wider range of projects