Here are today’s share performances for the Hong Kong listings:

1. Zhou Liu Fu (Ticker 6168.HK)

Debuted at HK$24, opening up ~11.3% and climbing into the gray market at HK$27.1 before trading began .

Oversubscribed, with an upsized HK$1.3 billion IPO raising HK$24 per share .

Concerns remain: heavy reliance on its franchise model, shallow R&D spend (<0.5% of revenue), and reputational risks from past controversies .

2. Saint Bella (STB)

No HKEX listing happened; “Saint Bella” is a privately held postpartum care provider based in Asia. The search didn't return any STB stock data .

Therefore, there is no market performance to analyze today.

3. IFBH (6603.HK) – Coconut Water Brand

Launched IPO subscription at HK$25.30–27.80, aiming for up to ~US$150 million, with shares expected to begin trading on June 30 .

Strong market share: ~34% of China's and ~60% of Hong Kong’s coconut water segments .

Robust 2024 results: revenue +80% to US$158 million; net profit +98% to US$33 million; gross margin ~37.2% .

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💡 Which one is more promising?

Zhou Liu Fu offers a strong debut pop and institutional support, but the weak fundamentals (franchise dependency, branding issues) pose medium-term risks.

IFBH, with its debut scheduled on June 30, has a solid growth story—rapid topline and bottom-line expansion, clear dominance in core markets, and robust demand reflected by cornerstone investors. However, performance post-listing remains untested.

My confidence leans toward IFBH due to its thriving fundamentals and clear sector leadership. Its IPO appears better grounded compared to Zhou Liu Fu’s more speculative appeal.

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🚀 Buying post-rally?

Zhou Liu Fu: The stock already opened above its IPO price. A further purchase now would likely be chasing initial momentum. Unless you’re a speculative short‑term trader aiming for immediate post-debut gains (and accept inherent volatility), it may be prudent to wait for a pull‑back or deeper fundamental clarification.

IFBH: As it officially debuts on June 30, you could subscribe or buy at open, but be prepared for typical IPO volatility. Considering its strong financials and market position, a strategic position—especially at or near listing—could be more justified than chasing an already high-flying debut.

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🌴 Trading IFBH and the coconut water product?

IFBH presents a compelling growth story: dominant market share, healthy margins, and robust financial momentum.

Risks include IPO dynamics, unlocked shares post-IPO, and competition or supply-chain shifts (outsourced manufacturing).

Recommendation: For a speculative yet fundamentally backed bet, consider participating at IPO or purchasing shortly after listing, with vigilance on post‑IPO trading patterns and lock-up expiration.

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Summary of Actionable Points:

Opportunity Strategy Risk Level

Zhou Liu Fu Wait for pullback or improved fundamentals; avoid chasing High, due to fragility

IFBH Subscribe/buy at listing; plan for IPO volatility Medium, but supported by strong metrics.