$QIYUNSHAN FOOD(02797.HK) plunged -30%. It was pumped to double its price in the first two days of listing, and now it's urgently dumping back; $RECONOVA(07656.HK) rebounded +15% instead, with funds flowing back in after breaking the issue price. Both are newly listed Hong Kong stocks that just went public in July, one is deflating while the other is recovering. For applying for an IPO on such stocks, should you run on the first day or hold on to bet on volatility? I lean towards taking profits — for newly listed stocks without cornerstone investor support, the direction of volatility depends purely on sentiment, and the risk of holding is much greater than it appears.
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- 财
【港股打新深观察】狂热褪去，港股打新步入 “破发时代”
七月的港交所交易大厅，似乎从未像现在这般喧嚣。7 月 8 日与 7 月 9 日，短短两天内便有十二家企业扎堆鸣锣，单日七家同框的盛况甚至逼近了历史峰值。然而，在这 “多锣齐鸣” 的繁荣表象之下，却掩盖不住打新资金日益冷却的体感温度。除了齐云山食品（02797.HK）上市首日大涨超一倍外，其余新股表现乏善可陈，即便是 A 股赴港的 “大白马”$LUXSHARE ICT(02475.HK) ...
- 玖
$QIYUNSHAN FOOD(02797.HK) dropped -40% on its second day of listing. The first southern sour jujube stock, which surged +205% on its debut, has completed a year's worth of roller coaster in just two days😵💫
The old script for Hong Kong small-cap IPOs: oversubscribed 1600 times, frenzied speculation on the first day, and a stampede on the second. A fundraising pool of just over 100 million simply can't handle the in-and-out flow of speculative capital. Southern sour jujube cake brings in 300 million in annual revenue and 50 million in profit—it's a solid small business, but has little to do with the peak market cap of 2.4 billion inflated by speculation.
At this current level, should we wait for it to fall back near the HK$8 issue price before reconsidering, or blacklist it from now on? I choose the former to observe—the fundamentals are real, it's just sentiment that's expensive.
- 路
$QIYUNSHAN FOOD(02797.HK) Once it comes down, it can't go back up.
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- T
$QIYUNSHAN FOOD(02797.HK)Winning or losing is all down to luck
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- H
$QIYUNSHAN FOOD(02797.HK) You're so awesome?
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- B
$QIYUNSHAN FOOD(02797.HK) Out of more than 10 stocks, Qiyunshan turned out to be a profitable one.
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- J
$QIYUNSHAN FOOD(02797.HK) Bro, what about the promised 18 yuan? Keep it up!
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- 致
$QIYUNSHAN FOOD(02797.HK) The next Liuliumei?
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- Z
$QIYUNSHAN FOOD(02797.HK) Newly listed stocks have been so bizarre lately, surging even when not favored 😂
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- 蜉
$QIYUNSHAN FOOD(02797.HK) all eat meat, all eat meat
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- 随
Grey market pre-opening price slow report...
$RIGOL(00537.HK) $DTECH(01377.HK) $LUXSHARE ICT(02475.HK) $QIYUNSHAN FOOD(02797.HK) $ROKAE ROBOTICS(03752.HK) $CCTC(06951.HK)
- J
$QIYUNSHAN FOOD(02797.HK) Trash stock
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- 花
$QIYUNSHAN FOOD(02797.HK) Old Qi, can you let me win one?
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- 新
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📢【Hot IPOs】A Dense Lineup! A Quick Guide to 9 New Listings
The Hong Kong IPO market has been seeing frequent new listings recently👀. With limited capital and energy, how do you filter through so many IPOs listing around the same time? Hot Topic has already compiled the list👇, giving you the most direct and quickest way to understand 9 new listings.
$CCTC(06951.HK): Has been deeply involved in the electronic ceramic materials and components field for over 55 years. Its product portfolio covers core sectors like AI & data centers, communications, automotive electronics, and semiconductor packaging. 2025 revenue was approximately RMB 8.869 billion, a year-on-year increase of about 22.1%. Annual profit was about RMB 2.617 billion, a year-on-year increase of about 19.5%, demonstrating outstanding profitability.
$DTECH(01377.HK): The world's largest PCB drill bit supplier by sales volume. 2025 revenue was approximately RMB 2.084 billion, a year-on-year increase of about 34.2%. Gross profit margin significantly improved to 40.4%.
$RIGOL(00537.HK): China's largest supplier of electronic measurement instruments. Its RIGOL brand serves over 100,000 end customers in more than 90 countries and regions worldwide. 2025 revenue was approximately RMB 900 million, a year-on-year increase of about 16.0%. Annual profit was about RMB 86.08 million.
$LUXSHARE ICT(02475.HK): The largest precision intelligent manufacturing solutions provider in Mainland China and the fifth largest globally. It deeply serves core sectors like consumer electronics, automotive electronics, communications, and data centers. 2025 revenue was approximately RMB 332.3 billion, a year-on-year increase of about 23.6%. Gross profit margin was about 11.6%.
$ROKAE ROBOTICS(03752.HK): Focuses on the R&D and manufacturing of industrial robots, flexible collaborative robots, and embodied intelligent robots. 2025 revenue was approximately RMB 522 million. Gross profit margin significantly improved from 11.4% in 2023 to 21.9%. Annual loss was about RMB 179 million, narrowing compared to 2024.
$QIYUNSHAN FOOD(02797.HK): A leader in China's Choerospondias axillaris (Southern Sour Jujube) food market. Its flagship product, Southern Sour Jujube Cake, has received "Green Food" certification for 30 consecutive years. 2025 revenue was approximately RMB 314 million. Gross profit margin increased against the trend to 51.3%. Annual profit was about RMB 48.93 million.
$NEXCHIP(02249.HK): A leading 12-inch pure-play foundry, positioned at a key link in the global semiconductor value chain. 2025 revenue was approximately RMB 10.388 billion, a year-on-year increase of about 13.9%. Net profit attributable to owners of the parent increased year-on-year by about 32.2%.
$BEFAR GROUP(06745.HK): A comprehensive chemical group with over 55 years of deep involvement in the chemical industry, actively promoting green and low-carbon transformation. 2025 revenue was approximately RMB 14.836 billion, a year-on-year increase of about 45.1%. Operating profit significantly reversed the loss situation of 2024. Annual profit was about RMB 235 million.
$EKH(02523.HK): Deeply involved in container-related services in Southeast Asia and China, covering core businesses such as empty container storage, reefer container maintenance, container transportation, and trading. 2025 revenue was approximately SGD 149 million, a year-on-year decrease of about 9.6%. Gross profit margin recovered to about 29.5%.
🎯 Prize Contest | Which of the 9 New Listings Can Take the Lead?
Among these 9 hot new listings, whose explosive potential are you most bullish on?
How to Participate: Leave your prediction for the first-day gain champion + your reasoning in the comments section.
Reward: Users who successfully predict the result will receive 500 Task Coins!
- 陆
[HK IPO Subscription] Qiyun Mountain Food, the market leader in sour jujube products, is it worth investing in with an 8 billion market cap?
Hello, I'm Lu Xian. I research the investment field and share overseas information. The previous post shared about Shandong Baogai, and today let's look at a fruit snack company—Qiyunshan Food. The company mainly sells Southern Sour Jujube Cake and Southern Sour Jujube Granules, ranking first in its niche market and having been profitable consecutively. The focus is on its market cap of less than 1 billion HKD, the lack of cornerstone investors in its issuance structure, and the issue of declining revenue and profit in 2025...
- 新
$QIYUNSHAN FOOD(02797.HK) If I buy it, can you give me some jujube cake? The jujube cake is quite delicious.
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- 陆
[HK IPO Subscription] Ruivision Technology, the market leader in civil aviation visual intelligence, is it worth subscribing to with a valuation of 6.6 billion?
Hello, I'm Lu Xian. I research the investment field and share overseas information. The previous post shared Qiyunshan Food, and today let's look at an 18C AI company—Ruwei Technology. The company mainly provides visual intelligence products to enterprise clients, applied in scenarios such as airports, commercial spaces, and safe driving. The focus is on its industry status, continuous losses, and a valuation of 6.6 billion HKD...
