Company Overview - The company in focus is Hanhigh Group, which specializes in kitchen storage hardware, wardrobe storage hardware, faucets, door locks, hinges, slides, drawers, bathroom hardware, kitchen appliances, and outdoor furniture [2] - Initially, the company engaged in hardware OEM and export business but shifted its focus to building its own brand and kitchen functional hardware products starting in 2007 [2] Financial Performance - Hanhigh Group's projected revenues for 2022, 2023, and 2024 are 1.62 billion, 2.22 billion, and 2.857 billion respectively, with net profits of 199 million, 329 million, and 520 million [2] - The overall financial performance appears stable, but there are concerns about potential changes post-IPO [2] IPO and Market Performance - The company was sponsored by Guotai Junan Securities, which initially planned to raise 420 million but ended up raising 610 million, exceeding the target by nearly 200 million [4] - The first day of trading saw a significant increase of 418%, reaching a peak price of 120, but the stock has since experienced a downward trend, falling for 6 out of 8 days [4][6] - The stock price dropped from its peak to 45.02, representing a significant decline [4][6] Market Sentiment - There is a prevailing sentiment that new stocks often peak on their first day of trading, leading to substantial losses for investors who buy in at high prices [6][11] - The lack of price limits in the first five days of trading is viewed as a potential trap for investors, as many stocks experience sharp declines shortly after their initial surge [11]