Core Viewpoint - Haiyang Technology experienced a dramatic stock price drop of 31.96% on its second trading day, closing at 38.08 yuan after an initial surge on its debut [1][4][10]. Company Performance - Haiyang Technology's stock opened at 33 yuan on its first day, a 187% increase from its issue price of 11.50 yuan, and peaked at 70 yuan, marking a 508% rise before closing at 55.97 yuan, a 387% increase [4][7]. - On the second day, the stock opened significantly lower and fluctuated, reaching a low of 37.70 yuan, resulting in a total decline of 46% from its peak [4][7]. Market Reaction - The high valuation of Haiyang Technology, with a price-to-earnings ratio of 54 times based on the first-day closing price, raised concerns about a potential market correction [7]. - Investors who bought shares on the first day could have seen profits of over 20,000 yuan per share, but those who held onto their shares into the second day faced significant losses [7][10]. Industry Context - Haiyang Technology specializes in the research, production, and sales of nylon 6 series products, positioning itself as a key player in a growing market with applications across textiles, automotive, and electronics [7]. - The nylon 6 market is expanding, with projected revenues exceeding 5.5 billion yuan in 2024, indicating strong industry potential [7].