Group 1 - The core concept of stock bidding is to determine the transaction price through the submission of orders by buyers and sellers, which are matched by the exchange system according to specific rules [2][8] - The A-share bidding mechanism consists of two types: collective bidding and continuous bidding, with the former determining the opening and closing prices and the latter being the price formation method during normal trading [2][4] Group 2 - The opening collective bidding phase occurs from 9:15 to 9:25, divided into two stages: 9:15-9:20 where orders can be withdrawn, and 9:20-9:25 where orders cannot be withdrawn [4][5][14] - The core rule for determining the opening price is based on maximizing transaction volume, where the price that allows for the highest volume of transactions is selected [8][14] Group 3 - The transaction order follows the principles of price priority and time priority, meaning higher-priced buy orders and lower-priced sell orders are executed first, and among orders with the same price, the earlier submitted orders are executed first [9][14] - Continuous bidding allows for real-time pricing and immediate transactions, with stock prices fluctuating with each transaction [10] Group 4 - Key signals for new investors include observing the relationship between the opening price and the previous closing price to gauge market sentiment, monitoring transaction volume during the bidding phase to assess capital interest, and being cautious of price fluctuations during the initial bidding phase to avoid being misled by market manipulation [10][11][12]

Group 1 - The core viewpoint of the article highlights the recent IPO of Baize Medical (02609.HK), which saw its stock price surge over 42% on its first trading day, indicating strong market interest despite lower subscription rates compared to peers [1][3] - Baize Medical issued 133 million shares at a price of HKD 4.22 per share, raising a net total of HKD 468 million, with only 12.20% of shares allocated for public offering in Hong Kong [1][6] - The company operates eight hospitals across several provinces in China, focusing on providing comprehensive cancer care services, including screening, diagnosis, treatment, and rehabilitation [5][6] Group 2 - Despite the strong debut, there are concerns regarding the company's fundamentals, as it has reported significant losses in recent years, although adjusted profits are projected for 2024 [2][4][6] - The revenue growth from 2022 to 2024 shows a compound annual growth rate of approximately 21.7%, with total revenues increasing from RMB 803 million to RMB 1.189 billion [5][6] - The company has a high goodwill amounting to RMB 643 million, primarily from recent acquisitions, which poses a risk if any impairment occurs [6]