IMPRESSION DHP (02695) saw its shares plummet by 21.11% during intraday trading on Monday, following a disappointing debut on the Hong Kong stock exchange. The stock opened significantly below its initial public offering (IPO) price of HK$3.60, reflecting weak investor sentiment.
The company, a state-owned cultural tourism service provider, raised approximately HKD 104 million from its IPO. However, its reliance on a single flagship show, "IMPRESSION·DHP," and its competitive position in China's cultural tourism market (ranked 8th in 2024) may have contributed to the lackluster market response. The stock's sharp decline underscores concerns about its growth prospects and market positioning.
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