Understanding the Market | GOLDEN LEAF INT fell nearly 17% again, with its stock price hitting a new low since its listing and dropping below the issue price

GOLDEN LEAF INT fell nearly 17% again, reaching a low of HKD 0.49, a new low since its listing, and falling below the issue price of HKD 0.5. As of the time of writing, it has dropped 16.95%, trading at HKD 0.49, with a transaction volume of HKD 20.5641 million. In terms of news, GOLDEN LEAF INT debuted on the GEM (Growth Enterprise Market) of the Hong Kong stock market on October 10, with an oversubscription rate of over 11,500 times in the public offering, becoming the first "ten-thousand times subscribed stock" in Hong Kong stock history. Notably, the stock price surged 330% on its first day of listing, with prior dark market trading peaking at a 900% increase. The prospectus shows that the company is a well-established contractor engaged in electromechanical engineering in Hong Kong, focusing on the supply, installation, and maintenance of HVAC, electrical, and water supply systems, primarily undertaking private projects and serving as the main contractor. Its annual revenue exceeds HKD 100 million, with annual profits only in the tens of millions of HKD. The company expects a significant decrease in net profit for the fiscal year 2025/26 compared to 2024/25, mainly due to increased listing expenses