Company Overview - Zhida Technology is a company specializing in home electric vehicle charging stations, holding the largest market share in China at 13.6% and a global market share of 9.0% [6][7] - The company has been operating at a loss since its inception in 2010, with revenues declining due to price wars [6][7] Financial Performance - Zhida Technology's revenues for 2022, 2023, and 2024 were recorded at CNY 697 million, CNY 671 million, and CNY 593 million respectively [6][7] - The net losses for the same years were CNY 25 million, CNY 58 million, and CNY 236 million, with further losses of CNY 32 million and CNY 17 million for the first three months of 2024 and 2025 [7] Market Activity - Zhida Technology's IPO saw a subscription rate of 5,440 times, ranking fifth among new stocks this year [6] - The final offering price was set at the lower end of the range at HKD 66.92 per share, raising approximately HKD 400 million, with a net amount of about HKD 326 million after expenses [7] Comparison with Other Companies - Jin Ye International Group, another newly listed company, achieved a subscription rate of 11,465 times, making it the highest in 2025 [4][6] - Despite a significant increase of 464% in its stock price, Jin Ye International Group's total market capitalization remains around HKD 1.1 billion [6]

Core Viewpoint - The recent IPOs of Golden Leaf International Group and Zhida Technology have seen significant first-day gains, with increases of 464% and 181% respectively, marking them as notable performers in the Hong Kong stock market [1][3]. Group 1: Golden Leaf International Group - Golden Leaf International Group achieved a first-day closing increase of 464%, making it the highest first-day gain for a new stock since 2025 [3]. - The company recorded an oversubscription rate of 11,464 times for its public offering, setting a new record for Hong Kong IPOs in 2025 [4][6]. - Despite the substantial increase in stock price, the total market capitalization of Golden Leaf International Group remains around HKD 1.1 billion [11]. Group 2: Zhida Technology - Zhida Technology, which specializes in home electric vehicle charging stations, experienced a first-day gain of 181% [3]. - The company reported an oversubscription rate of 5,440 times for its public offering, ranking fifth among new stocks in terms of oversubscription in 2025 [11]. - Zhida Technology's total market capitalization exceeded HKD 11.2 billion following its stock price increase [15]. Group 3: Market Context - The first-day performance of both companies places them among the top gainers for new stocks listed in 2025, with Golden Leaf International Group and Zhida Technology ranking high in terms of percentage increase [3]. - The overall market environment for IPOs in Hong Kong appears favorable, as evidenced by the high demand and significant oversubscription rates for these new listings [6][10].

Core Viewpoint - The recent IPOs of Golden Leaf International Group and Zhida Technology have seen significant first-day gains, with Golden Leaf International Group rising by 464% and Zhida Technology by 181%, marking them as some of the highest first-day performers in 2025 [1][3]. Group 1: Golden Leaf International Group - Golden Leaf International Group achieved a record oversubscription rate of 11,464 times, making it the "super subscription king" of Hong Kong stocks in 2025 [4][6]. - The company is a well-established contractor in electromechanical engineering in Hong Kong, with annual revenues exceeding 100 million HKD and annual profits around 10 million HKD [7][8]. - Despite the significant price increase, the total market capitalization of Golden Leaf International Group remains approximately 1.1 billion HKD [10]. Group 2: Zhida Technology - Zhida Technology, a company specializing in home electric vehicle charging stations, holds a market share of 13.6% in China and 9.0% globally [11]. - The company has faced declining performance due to price wars, recording revenues of 697 million CNY, 671 million CNY, and 593 million CNY from 2022 to 2024, with net losses of 25 million CNY, 58 million CNY, and 236 million CNY during the same period [11][12]. - The final offering price for Zhida Technology was set at the lower end of its range at 66.92 HKD per share, with a total fundraising amount of approximately 400 million HKD, resulting in a net amount of about 326 million HKD [13].

Core Viewpoint - The article highlights the significant stock price increases of two newly listed companies, Jinye International Group and Zhida Technology, with respective gains of 464% and 181% on their debut, marking them as notable performers in the Hong Kong stock market [1][3]. Group 1: Jinye International Group - Jinye International Group achieved a record high first-day closing increase of 464%, making it the highest debuting stock in 2025 [3]. - The company experienced an oversubscription rate of 11,464 times in its public offering, setting a new record for Hong Kong IPOs in 2025 [5][8]. - The total fundraising amount for Jinye International Group was approximately HKD 50 million, with a net amount of HKD 31.3 million after deducting listing expenses [11][12]. Group 2: Zhida Technology - Zhida Technology, a company specializing in home electric vehicle charging stations, saw a first-day increase of 181% and ranked fifth in oversubscription with a rate of 5,440 times [16][18]. - The company reported revenues of RMB 6.97 billion, RMB 6.71 billion, and RMB 5.93 billion for the years 2022, 2023, and 2024, respectively, but has been operating at a loss since its inception in 2010 [18]. - Zhida Technology's total market capitalization exceeded HKD 11.2 billion following its stock price surge [20].