Core Viewpoint - JD Industrial officially listed on the Hong Kong Stock Exchange on December 11, becoming the sixth company under Liu Qiangdong to go public, but the stock opened below the issue price, reflecting a weak market sentiment for new listings [1][2]. Group 1: IPO Performance - JD Industrial's IPO involved a global offering of approximately 211 million shares, with 10% allocated for public sale in Hong Kong and 90% for international placement, raising about HKD 2.978 billion after deducting listing expenses [1][2]. - The Hong Kong public offering received 72,234 valid applications, resulting in a subscription rate of 60.52 times, while the international placement had a subscription rate of 7.88 times [2]. - Despite the strong demand, JD Industrial's stock opened at HKD 13.0, down 7.8% from the issue price of HKD 14.1, and only slightly recovered to HKD 14.09 by midday [1][2]. Group 2: Financial Performance - JD Industrial has shown steady revenue growth, with total revenue projected to increase from RMB 14.1 billion in 2022 to RMB 20.4 billion in 2024, representing a compound annual growth rate (CAGR) of 20.1% [2]. - Adjusted net profit is expected to rise from RMB 710 million in 2022 to RMB 910 million in 2024 [2]. Group 3: Market Context - The recent performance of the Hong Kong IPO market has been weak, with 26 out of 100 new stocks experiencing a first-day drop, and a 45% breakage rate among the 20 new listings since November [2]. - Other companies in the JD ecosystem have also faced stock price declines, with JD Group down 15.59% and JD Logistics down 6.17% year-to-date [3].
募资28亿港元！刘强东第六家上市公司港股首秀破发