On June 23, Liumeimei (06658.HK) declined 5.4% in regular trading, trading at 147.5 HKD/share, with turnover of approximately 6.95 million HKD. The stock had just reached an all-time high of 165 HKD the prior trading day, representing a cumulative gain of over 270% from its IPO price of 43.58 HKD.
The pullback is primarily attributed to short-term profit-taking pressure following the stock's explosive post-listing rally. Liumeimei debuted on the Hong Kong Stock Exchange on June 15 with a first-day surge of 193.71%. Its extremely tight float structure — with only approximately 8.1 million shares in actual circulation after deducting cornerstone investor lock-ups from the total offering of 11.46 million H-shares — combined with record oversubscription of 6,586.73 times during the public offering phase, had driven aggressive secondary market buying. With the stock having more than tripled from its IPO price in just one week, profit realization from early investors has triggered the current correction.
Liumeimei is the leading fruit snack company in China, ranking first in retail sales with a 4.9% market share. Its signature product Mei Dong holds a 45.7% share in China's natural jelly segment.
(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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