This year, the Hong Kong IPO market has shown signs of recovery, attracting numerous mainland companies to list, including industry giants such as Midea Group (00300.HK), SF Holding (06936.HK), Laopuhuangjin (06181.HK), and Maogeping (01318.HK). The Hong Kong Stock Exchange has not only lowered the market capitalization threshold for specialized technology companies but also optimized SPAC merger rules. It is estimated that three companies have already listed under Chapter 18C this year. So far, 70 new stocks have been listed, with an average subscription number exceeding 15,000, and the return multiples ranging from 15 to 30 times.

IPO First-Day Gains Ranking

Jingwei Tiandi (02477.HK) ranks first with a 164% gain, achieving a first-day profit of up to 6,560 HKD. The company is a provider of telecommunications network support and ICT integration services in China, with a revenue of 114 million RMB in the first half of 2023.

Laopuhuangjin (06181.HK) ranks second, with an IPO price of 40.5 HKD and a first-day profit of 2,950 HKD. The stock price has now surpassed 200 HKD, setting a new high. Morgan Stanley predicts its sales and net profit will grow at a compound annual growth rate of 55% and 65%, respectively.

Maogeping (01318.HK) received 90.5 billion HKD in subscriptions in the Futu IPO, becoming the top in Hong Kong. The stock price rose over 90% on its first day, with a profit of 2,280 HKD per hand. The company's makeup and skincare businesses have performed well, with projected annual revenue exceeding 2 billion HKD.

Other noteworthy performers include Carrot (02549.HK), with a first-day profit of 1,685 HKD and a subscription rate of 1,347.27 times; JinkoSolar Holding (02551.HK), with a first-day profit of 1,720 HKD; and EDA Group Holdings (02505.HK), which had a first-day profit of 1,920 HKD.

You can subscribe to the new Hong Kong IPO through uSMART HK.

The uSMART HK app features a dedicated IPO center, offering exclusive promotions for customers to subscribe to public offerings in real time. After logging in the uSMART HK APP, select the transaction at the bottom right, click "IPO Subscription", select the IPO you want to subscribe, click "Public Subscription", fill in the subscription number and send the order.

（Source: uSMART HK）