Core Viewpoint - The recent trend of newly listed stocks shows a pattern where they peak on the first day of trading and then experience a continuous decline, leading to significant losses for investors [1][8]. Company Overview - Tianyouwei, which specializes in the research, design, production, sales, and service of automotive instruments, is expanding into the smart cockpit sector. Its main products include electronic combination instruments, full LCD combination instruments, dual-screen instruments, in-car infotainment systems, air conditioning controllers, wireless chargers, and automotive electronic development services [5]. IPO Details - Tianyouwei was listed on April 24 with an initial offering price of 93.5 yuan. The underwriting institution, CITIC Jianzhong, aimed to raise approximately 3 billion yuan but ended up raising 3.74 billion yuan, exceeding the target by 736 million yuan. The total number of shares issued was 40 million, and CITIC Jianzhong earned around 175 million yuan in underwriting fees [7][8]. Stock Performance - On its first trading day, Tianyouwei opened high, reaching a peak of 140 yuan, and closed at 116 yuan, marking a 24% increase. However, the stock price declined for four consecutive days, dropping to 99 yuan, nearing the point of breaking its initial offering price [8][11]. - Similar trends were observed in other newly listed companies, such as Jiangshun Technology, which saw its stock price fall from 84 yuan to 55 yuan within five days, and Honggong Technology, which experienced a decline from 83 yuan to 51 yuan over ten days [11][14]. Market Sentiment - The current sentiment towards new stocks is cautious, with many investors wary of the potential for significant losses after the initial trading day. The analogy of a bride who looks beautiful on her wedding day but changes the next day reflects the unpredictability and volatility of newly listed stocks [17].