Core Viewpoint - The recent IPOs of three companies, including IFBH, Cloudwalk, and Taide Pharmaceutical, have shown varied performance, with Cloudwalk experiencing a significant rebound on its official listing day, surpassing the gains of IFBH from the dark market [1][2]. Group 1: IPO Performance - On June 30, Cloudwalk's stock surged by 44.59%, reaching a total market capitalization of 21 billion HKD, while IFBH rose by 42.09% to a market cap of 10.5 billion HKD, and Taide Pharmaceutical saw a modest increase of 0.65% with a market cap of 4.4 billion HKD [2][4]. - In the dark market prior to the official listing, IFBH had a remarkable performance with a gain exceeding 60%, while Cloudwalk and Taide Pharmaceutical had lackluster results, with Cloudwalk even experiencing a slight decline of 2.88% [1][2]. Group 2: Subscription Results - Cloudwalk's public offering subscription rate was significantly lower than the other two companies, with a subscription multiple of only 91.66 times for the public offering and 1.70 times for the international offering. In contrast, IFBH had a public offering subscription multiple of 2682.35 times and an international offering multiple of 22.93 times, while Taide Pharmaceutical had 301.15 times and 2.43 times, respectively [5][6]. Group 3: Company Profiles - IFBH is a leading provider of ready-to-drink coconut water and instant food products in China, holding a market share of approximately 34% in the coconut water beverage market, significantly outpacing its competitors [6][7]. - Cloudwalk specializes in AI solutions, focusing on conversational AI products for daily life and medical applications, but currently holds a market share of only 0.6% in China's AI solutions market, ranking fourth [6][7].