On June 18, Liuliumei (06658.HK) rose 6.87% in regular trading, reaching HKD 141.5 per share with turnover of approximately HKD 79.88 million. The stock continues to appreciate following its Hong Kong Stock Exchange debut on June 15, when it surged 193.71% from its IPO price of HKD 43.58.
The sustained upward momentum is primarily driven by the extreme scarcity of tradable shares. The company's total global offering comprised only 11.46 million H-shares, of which cornerstone investors locked up nearly 30%, leaving approximately 8.07 million shares in actual free float. The public offering recorded 6,586.73 times oversubscription from roughly 180,500 valid applications, creating massive unmet demand that continues to exert buying pressure. Market analysts have characterized this dynamic as a float squeeze, where supply-demand imbalance sustains elevated pricing independent of fundamental valuation.
Liuliumei is China's leading fruit snack company specializing in plum-based products. It ranked first in China's fruit snack industry by retail revenue in 2024 with 4.9% market share. The company reported revenue of RMB 1.71 billion and net profit of RMB 182 million for 2025.
(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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