[HK IPO] Crazy! Sig, Chang Guang, and Qunhe are in a three-way standoff; Shenghong, it's a mess again.

Hello everyone, I'm Hertz. 1. Listing Situation Today, Sige officially listed, opening high and going higher throughout the day, doubling at one point during the session, providing ample opportunity. It's a solid, meaty giant. For some small accounts, winning one lot can cover a year's worth of 'food'. The placement results are also out. International Placement Situation: Booming, with an international placement multiple of 31.2x. Only 3 new stocks this year have had international placement multiples exceeding 30x, namely Mingming, Lanqi, and MiniMAx; We don't just look at the first-day gain; even the gains from issuance to now show these are the market's current favorite hot stocks; Sige's multiple ranks 4th this year. The situation most similar to Sige is Mingming, also an institutional stock with a high margin financing multiple and a high per-lot price; the high heat of the international placement reflects the market's high recognition from the side.

Green Shoe Usage: 0, the green shoe wasn't needed at all.

Per-lot Winning Rate: 2%Number of Applicants: 202,730 people in totalFinal Subscription Multiple: 1102.05x2. Grey Market Situation Changguang Chenxin: Changguang's grey market today opened high and went higher. Both grey markets opened around 60, then surged to around 70 before pulling back, closing near the high around 68; the basic trend of the two grey markets was consistent. The maximum per-lot gain was 78.79%, with the highest profit per lot exceeding HKD 3,100. This has already met pre-subscription expectations. Changguang's pricing destined its elasticity to be less than Sige and Qunhe; this gain has already exceeded my psychological expectations, I'm content; out of 3 lots, I sold 2, leaving only 1 lot. It might still surge a bit tomorrow.

Qunhe's grey market performance today was in a league of its own. At the open, the Hui system's grey market was significantly higher than the Fu system's. After watching the market, I chased urgently. The Fu system's grey market doubled at one point, with the highest profit per lot reaching HKD 7,690, finally closing up 169.29%. Overall, the Fu system's price was higher than the Hui system's. Unfortunately, the 1 lot I got wasn't in Zhi Fu, otherwise I could have done a T trade, switching to the Hui system. Qunhe still has potential tomorrow, I haven't sold yet, see you tomorrow.

Each of the three IPOs this round has its merits; it's just that with more people, the market's funds have also increased, making it harder to win a lot, more competitive. You have to fight for everything, save on fees wherever possible, there's no other way, only those who dare to fight will win.

3. Allocation Results

Shenghong Technology:

Hertz guessed 450x, pretty close, at least 400x. Don't think 400x seems small, that's already freezing nearly 700 billion in funds, it's crazy.

Discount Rate: 39.69% (as of A-share market close on April 16)

The allocation results will be announced tomorrow afternoon, let's see how many we can get!

4. IPO Subscription

Next Monday, barring any surprises, the much-anticipated Xizhi Technology is coming, sprinting to become the "world's first AI silicon photonics chip stock". This year is considered the first year of silicon photonics mass production;

Xizhi is a good company, worth looking forward to, and worth waiting for.

Huaqin Technology (A+H), doesn't conflict with Shenghong, can be picked up after Shenghong's funds return tomorrow afternoon.

The table with basic issuance information and discount rates is sorted out (the tables are all handmade, if there are any mistakes, please point them out.)

Basic Issuance Information:

Discount Rate:

As of the A-share closing price on April 16, the current discount is 30.55%;

(Personal experience sharing only, does not constitute investment advice, for reference only)