Hello, I'm Hertz. Listing Results The first-day listing for the 6 companies in Group A has ended. 5M, 4 Yikong, 1 Rui. Overall, selling didn't lose much, but it's barely enough to cover the transaction fees, with income not covering expenses.

1. Momenta: International placement 20.31 times oversubscribed, cornerstone investors are also a top-tier lineup. I think it was dragged down by sentiment, but at least it didn't close flat on the first day, and there were opportunities to sell during the session.2. Baogai New Materials: Disappointing, but not breaking the issue price on the first day is the last fig leaf.3. Dongfang Kemo: Listing delayed by one day.4. Basic Semiconductor: A bit better than yesterday's grey market.5. Ruwei Technology: Plunged to -25% in the morning session, then climbed back to close down 3%, which at least stopped the bleeding.6. Yikong Zhijia: Yikong performed well in both the grey market and on the first day. Winning the lottery was easy, and making a 10% gain was relatively easy. This round's transaction fees were all recovered thanks to Yikong. Overall, for these Group A companies, just recovering the fees is good enough.Grey Market Results The grey market trading for the 6 companies in Group B has ended. Hearts are cold. IPO applicants are starting to panic and are already praying not to win the lottery for Groups C and D.

Born at the wrong time. Market panic has set in, throwing caution to the wind. Even Shenghong would be in trouble if it listed today.

1. Puyuan Jingdian (A+H):

Broke the issue price, gave no opportunity at all. Puyuan was one I got a lot of in this round, lost big.2. Dingtai Gaoke (A+H):

A real stinker. High price per lot, over 30K. Although it fell 10%, the loss was as high as 3K; looking forward to the greenshoe buying tomorrow.3. Luxshare Precision (A+H):

Luxshare was within expectations. Compared to the others, it feels okay. I didn't apply.4. Qiyunshan Food:

The only stable performer this round, a dark horse, opened low and closed high, doubling in price.5. Luoshi Robot:

Robot was one I got a lot of this round. Although it opened below the issue price, the movement was relatively stable. I haven't sold yet.6. Sanhuan Group (A+H):

Disappointing. Hui's grey market once bottomed out at 80, somewhat oversold.Lottery Results The lottery results for the 2 companies in Group C have been announced;1. Jinghe Jicheng (A+H):200 lots guaranteed 1; A-tail 3 lots; B-head 5 lots, B-head wins; top head 191 lots. Single-lot winning rate about 8.6%, winning was relatively simple, but after these two rounds, everyone probably hopes not to win.

A-side fell 2.65%. Currently H is at a discount of about 52.14% to A. Whether A's semiconductor sector can be in the green tomorrow is crucial for the afternoon's grey market, otherwise it's looking shaky.2. Binhua Shares (A+H):200 lots guaranteed 1; A-tail 2 lots; B-head 7 lots, B-head wins; top head 40 lots.

A-side fell 3.37%. Currently H is at a discount of about 45.78% to A. A bit shaky. IPO application sentiment has gone from negative yesterday to panic today. The US is still causing trouble tonight, Trump is spouting nonsense again. The IPO market has cooled off. Without market heat, no cook, no great immortal can save it.

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Yongkang Holdings has withdrawn its listing. These past few days, all sorts of unexpected things have piled up.

(For personal sharing only, not investment advice. Consequences are your own responsibility. For reference only.)