Group 1 - In 2024, a total of 70 companies went public on the Hong Kong Stock Exchange, raising a total of HKD 878.15 billion, representing a nearly 90% year-on-year increase [2] - Midea Group achieved the largest IPO on the Hong Kong Stock Exchange since 2021, raising HKD 356.67 billion [2] - The Hong Kong Stock Exchange regained its position as the fourth largest IPO market globally [2] Group 2 - As of May 15, 2025, 36 out of the 70 new stocks listed on the Hong Kong Stock Exchange have experienced a decline in value, with an average drop of 43.23% since their listing [3] - The top 10 companies with the largest declines include Out the Door (02438.HK) and Dida Chuxing (02559.HK), with Out the Door's stock price dropping over 90% [3] Group 3 - Out the Door, established in 2012, is recognized as the "first AIGC stock in Hong Kong" and was once a favored investment due to its achievements in AI and voice interaction [4] - The company reported a revenue growth slowdown to 1.49% in 2023 and a 23.02% decrease in 2024, alongside four consecutive years of losses [4] - As of May 16, 2025, Out the Door's market capitalization has fallen to HKD 550 million, down from a pre-IPO valuation of USD 250 million [4] Group 4 - The primary cause of Out the Door's losses is attributed to changes in the book value of redeemable preferred shares and common stock, along with a significant revenue drop due to the termination of a major client relationship [5] - The company is shifting its focus towards sustainable growth in pure software AIGC products, moving away from traditional AI project revenues [5]
港股IPO盘点：2024年70只新股半数已破发 出门问问跌幅超九成