On May 29, Huaxida (00901.HK) declined 6.25% in regular trading, trading at 60.7 HKD/share, with trading volume of HKD 2.9132 million. The stock had debuted on the Hong Kong Stock Exchange on May 27 at an IPO price of 32.8 HKD per share and surged 86.59% on its first day to close at 61.20 HKD.
The current pullback comes as investors appear to lock in gains following the stock's dramatic first-day performance. During its IPO, the Hong Kong public offering portion received approximately 1,972 times oversubscription, reflecting intense retail investor demand. The company raised net proceeds of approximately HKD 570 million from the global offering of 19.21 million H shares. Notably, the company's operating cash flow turned negative in fiscal year 2025 after generating RMB 125.9 million in 2024, which may be weighing on sentiment.
Huaxida, founded in 2003, is a global leading AI Home integrated solution provider, a national-level high-tech enterprise, and a national-level specialized and innovative Little Giant enterprise, dedicated to enhancing home application experiences through intelligent technology.
(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.)
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