↑364%、↓46%，港股新股上演“冰火两重天”

Core Viewpoint - The Hong Kong IPO market is experiencing extreme divergence in the performance of newly listed stocks, with some achieving significant gains while others face substantial losses [1]. Group 1: IPO Performance - On December 23, three new stocks were listed in the Hong Kong market, showcasing a stark contrast in their first-day performance: Nobikang surged by 363.75%, marking the highest gain for a new stock this year, while Laisong Health rose nearly 160%, and Hansi Aitai plummeted by 46.25% [1][4]. - Nobikang's market capitalization reached approximately HKD 14 billion after its debut, despite the significant price increase [6][8]. Group 2: Company Insights - Nobikang specializes in developing and selling monitoring and detection products for railway operations and electric grid companies, providing integrated AI solutions for monitoring and maintenance [5]. - According to Zhaosheng Consulting, Nobikang holds a market share of about 5.9% in the AI-powered power detection and monitoring system sector in China, ranking as the second-largest provider in this field [5]. - Laisong Health offers health-related and insurance solutions in China, ranking 10th in the digital health service market based on projected 2024 revenue [9][10]. Group 3: Financial Performance - Nobikang is projected to achieve profits of CNY 63.16 million, CNY 88.57 million, CNY 115.37 million, and CNY 40.08 million for the years 2022, 2023, 2024, and the first half of 2025, respectively [6]. - Laisong Health's revenue for the years 2022, 2023, 2024, and the first half of 2025 is expected to be CNY 393.6 million, CNY 490 million, CNY 945 million, and CNY 656.1 million, respectively [10]. Group 4: Market Trends - The biotechnology sector, which previously showed strong IPO performance, has seen a decline in the first-day performance of newly listed companies, with Hansi Aitai experiencing a significant drop [12][14]. - The Hang Seng Biotechnology Index has retraced over 18% since October, reflecting a broader downturn in the biotechnology sector [14].