Core Viewpoint - Impression Dahongpao, a cultural tourism service company, made its debut on the Hong Kong Stock Exchange but faced a disappointing first day, with shares dropping 35.27% from the issue price [1][2]. Company Overview - Impression Dahongpao is headquartered in Wuyishan and is primarily engaged in performance and show services, with its flagship being the large-scale landscape performance "Impression Dahongpao" [1]. - The company has performed over 6,700 shows and received 10 million visitors since its premiere in 2010 [1]. Market Performance - The stock opened at HKD 3.26, down 9.4% from the issue price of HKD 3.60, and closed at HKD 2.33, marking a significant decline of 35.27% [2]. - The initial public offering (IPO) was highly oversubscribed, with a subscription rate of nearly 3,398 times, but the high demand led to a low allocation rate of only 0.8% for investors [2]. Future Plans - The company aims to leverage its listing as a new starting point to enhance brand recognition and expand into international tourism markets [3]. - Future initiatives include exporting performance management expertise, developing night-time activities in Wuyishan, and enhancing the immersive cultural experience [3]. Fundraising and Utilization - Impression Dahongpao raised approximately HKD 130 million globally, with plans to use the net proceeds for upgrading performances, developing cultural tourism projects, enhancing brand image, and improving operational systems [4].
香港传真｜印象大红袍香江上市首日破发