---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/42825261.md"
description: "$CREALIGHTS(01191.HK) fell 12% today, closing in the low 90s, already down about 20% from its issue price of 114—it even surged 80% on its first day of listing at the end of June, but within a month, all gains were wiped out and it's now trading below the issue price.$CIG(06166.HK) also dropped by over 4%, as sentiment around Hong Kong stock optical modules is cooling off together.The demand logic for AI optical modules hasn't changed; what has changed is the premium given to secondary new stocks. After breaking issue price following the initial frenzy on the first day, is this an opportunity for valuation to return to reasonable levels, or just a pause in the downtrend? The break-even point has never been a support level; let the chips settle for two weeks before making any moves."
datetime: "2026-07-21T10:26:59.000Z"
locales:
  - [en](https://longbridge.com/en/topics/42825261.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/42825261.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/42825261.md)
author: "[珏](https://longbridge.com/en/profiles/28175121.md)"
---

# $CREALIGHTS(01191.HK) fell 12% today, closing in t…


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