$LINGYI ITECH(01688.HK) fell 12%, $ZHIDA TECH(02650.HK) fell 12%, and $LIULIUMEI(06658.HK) fell 10%. Three Hong Kong-listed secondary new shares collectively saw double-digit pullbacks on the same day.
$LINGYI ITECH(01688.HK) is in the Apple supply chain/AI hardware direction. It broke its issue price upon listing and hit the daily down limit directly on this day, compounded by the adjustment in the AI hardware sector. $ZHIDA TECH(02650.HK) makes home charging piles, and $LIULIUMEI(06658.HK) makes green plum snacks. Both surged sharply after their initial listings and then gave back their paper profits along with the broader market in this round. Secondary new shares lack institutional holding consolidation, so their decline slope during a theme's ebb is often much steeper than that of seasoned stocks.
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