HK IPO on 6.26, Tongrentang finally listed, White Dove gives out red envelopes, SGMC ignores the discount!
IPO
Tong Ren Tang$TONGRENTANGCARE(02667.HK) , Traditional Chinese Medicine, hospital, small market cap, some local operations are also poor, difficult to be included in Stock Connect, the performance of hospital stocks in IPO subscription in recent years has not been great, maybe only before 25H1 was okay, but it's really hard to say whether Tong Ren Tang will be included in Stock Connect, cornerstone investors account for 46.7% with only 3 firms, can only say it's speculative.
Today's Grey Market
Libang and Haiguang are both without suspense, one is the same Tencent + Lilly configuration as Yingpai, the other is the optical module of Alibaba and Xiaomi, top-tier, it's just that this White Dove was really pushed up by Z, forced into Stock Connect!
Among these three, only Haiguang is driven by sentiment, Libang$ALEBUND-B(09637.HK) and White Dove$BAIGE DIGITAL(02672.HK) just want to be included in Stock Connect, but Libang is market-driven, while White Dove is small-cap fund-driven, brute force creates miracles, and getting White Dove is also a rare welfare lottery win, easy to get one lot (apply for 200+ lots), already a bit reminiscent of Mao Geping.
Today's Listing
The few new stocks from yesterday started to diverge today, the three A+H Lingyi kept declining all the way to breaking the issue price, while Xinqi and Shengbang surged strongly after noon!
After all, Lingyi$LINGYI ITECH(01688.HK) is a company bought to enter the Da chain, and this Da content's impact on its total revenue is also a bit like a drop in the bucket, now 48.6%, Sanhua 48.9%, similar.
To be honest, the discount for Xinqi$CFMEE(09630.HK) and Shengbang$SG MICRO(03661.HK) has already started to become somewhat ridiculous, Shengbang 17% discount, Libang 15% discount, can only say that new stocks in this hot sector, even A+H ones, have started to be heavily speculated, after all they are new listings, while the old listings like Nasine Micro with a 38% discount, Dazu CNC with a 58% discount, are silently crying with no one caring, even though Dazu is a comprehensive leader!
Can only say that listing premium definitely exists, and if you often follow secondary new stocks, the trends of A+H 两地 often diverge, so the discount can only be used as a medium-to-long-term measure of value for foreign investors, there are still too many short-term influencing factors, Dazu's listing discount was only 35% back then, now...
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