Movement Alert｜Qiyunshan Food Surges 221.25% in Regular Trading, Blockbuster IPO Debut Fueled by 1688x Oversubscription

Market Focus07-09

On July 9, Qiyunshan Food surged 221.25% in regular trading, trading at HK$23.62 per share against its IPO price of HK$8, with turnover reaching HK$104 million on its Hong Kong Stock Exchange debut.

The explosive first-day performance was driven by extraordinary subscription demand. The Hong Kong public offering was oversubscribed 1,688.1 times, while the international placement was oversubscribed 1.51 times. The company issued 25 million H shares globally, raising net proceeds of approximately HK$167 million. Pre-listing grey market trading had already indicated strong demand, closing up over 101% the previous evening.

Qiyunshan Food is the leading player in China's wild sour jujube food market, commanding a 29% market share by retail revenue as of 2025. Its flagship product, sour jujube cake, contributes approximately 85% of total revenue. The company reported net profits of RMB 48.9 million for fiscal year 2025 on revenues of RMB 314 million, with gross margin improving to 51.3%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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