Movement Alert｜Yifei Technology Falls 5.5% in Regular Trading, Record Oversubscription IPO Continues to Slide After Brief Rebound

Market Focus06-03

On June 3, Yifei Technology (06871.HK) fell 5.5% in regular trading, trading at HK$34.0/share, with trading volume of HK$43.28 million.

On the news front, Yifei Technology listed on May 18 at an issue price of HK$30.5, having set a Hong Kong IPO record with 14,855x oversubscription. The stock surged to HK$59.65 on its first trading day before entering a sustained pullback. On June 2, the stock briefly rebounded approximately 5% on technical oversold recovery, but the bounce failed to hold as selling pressure resumed today.

Market analysis attributes the continued weakness to the absence of cornerstone investors and a greenshoe mechanism in the IPO structure, leaving the stock without effective price support. Compounding these structural issues, the company reported persistent net losses through 2025, negative operating cash flow of -RMB183 million, and a leverage ratio of 71.89%, intensifying investor concerns over its fundamental outlook. The upcoming board meeting on June 5 to review audited financial statements adds further uncertainty.

(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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