$ZJ INNOLIGHT(03308.HK) Capital is fleeing to A-shares, with the stock price dropping 15.69% in a single day. The timing coincides exactly with the announcement of winning the subscription. Withdrawals are not possible on this day. There will be an after-hours trading session tomorrow. If the A-share market continues to decline steadily from open until noon tomorrow, the probability of breaking issue price during the dark pool trading will increase significantly. Subscription enthusiasm for new shares is very low, with only over 10x oversubscription. Hong Kong public offering saw over 100,000 lots. The lot size pricing is 49,000. Selling pressure is considerable, compounded by the recent sluggishness of tech stocks. IPO breakage rates for A+H shares have been high recently. Considering all factors, the breakage rate is high, and it may even drop below 30%.