---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42137499.md"
description: "$LINGYI ITECH(01688.HK), $SG MICRO(03661.HK), and $MERDEKAGOLD-DRS(06228.HK) — these several Hong Kong stock IPOs have not officially started trading yet; they are still in the pre-listing state. The first two are secondary listings from the A-share market: one makes precision components for the Apple supply chain + AI hardware, and the other makes analog chips. The remaining one is an Indonesian gold mine. Is applying for an IPO really worth participating in? I would differentiate between them — for secondary listings with an A-share pricing anchor and solid fundamentals, the first-day premium is usually more restrained. On the other hand, resource-based new stocks without a comparable anchor have greater pricing elasticity driven by sentiment, but also carry greater risks."
datetime: "2026-06-24T10:28:11.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42137499.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42137499.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42137499.md)
author: "[没有观点是观点](https://longbridge.com/en/profiles/27445273.md)"
---

# $LINGYI ITECH(01688.HK), $SG MICRO(03661.HK), and …


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