# Hong Kong Stock IPOs

1. Xizhi Technology-P (01879) ⭐️⭐️⭐️⭐️⭐️ (Highly recommend subscribing)
Tag: “The world's first AI silicon photonics chip stock,” “Optoelectronic hybrid computing power leader”
IPO Price: HKD 166.6 ~ 183.2 (Entry fee is relatively expensive, about HKD 2,775 per 15 shares)
Fundamentals: This company is very hardcore, focusing on solving AI large model computing bottlenecks (memory wall and power consumption wall), specializing in optical interconnects and optical computing chips. This is currently the hottest and most scarce underlying AI computing track.
Highlights: The cornerstone investors are extremely luxurious. Alibaba, GIC (Singapore’s sovereign wealth fund), Temasek, BlackRock, Hillhouse, and 20 top institutions have locked in large shares with real money. This is a very strong bullish signal in Hong Kong stocks.
Conclusion: The best among these three. It comes with an AI optical module concept, with top-tier investors, and is likely to see a good rise on the first day of listing. It is recommended to prioritize investing in this one.
2. Sunmi Technology-W (06810) ⭐️⭐️⭐️ (Moderate participation suggested)
Tag: “Leading commercial IoT company,” “Different voting rights for the same stock”
IPO Price: HKD 24.86 (Entry fee about HKD 2,511 for 100 shares)
Fundamentals: Manufactures smart cash registers, commercial PDAs, and other IoT devices. The fundamentals are stable, backed by investments and business support from Ant Group and Meituan.
Highlights: Supported by internet giants’ ecosystems, with practical business implementation.
Risks: Gross profit margins of commercial hardware have a ceiling, and with the “-W” suffix (different voting rights), the potential for growth is not as large as the underlying chips above.
Conclusion: A “steady but not spectacular” target. If you have ample funds, you can use cash to buy a few shares to avoid missing out, but it’s not recommended to use high leverage (margin) to gamble.
3. Maiwei Biotech-B (02493) ⭐️⭐️ (Cautious subscription, suitable for professional players)
Tag: “Unprofitable biopharmaceutical (18A),” “A+H shares,” “ADC anti-cancer drugs”
IPO Price: HKD 27.64 ~ 30.71 (Most expensive entry fee, about HKD 6,203 for 200 shares)
Fundamentals: This is a company already listed on the STAR Market in A-shares, now doing a dual listing in Hong Kong as “A+H.” Its core product is an ADC drug targeting Nectin-4.
Risks: The “-B” suffix indicates it is an unprofitable biotech company with extremely high R&D costs. As an A+H stock, its Hong Kong price is usually referenced to A-shares with a discount, and due to cross-market arbitrage mechanisms, its first-day explosive potential is usually weaker.
Conclusion: Biotech IPOs are always like “opening blind boxes,” with a high first-day failure rate. Unless you are very confident that its ADC drug can beat competitors like Hengrui Medicine, it’s advisable for ordinary IPO players to skip this one.
Final operational suggestions (sorted by priority):
Primary focus: Xizhi Technology-P (01879) —— The best track, the strongest cornerstone, keep most funds for it.
Secondary attempt: Sunmi Technology-W (06810) —— Use remaining cash to buy a few, aiming for steady gains.
Avoid entirely: Maiwei Biotech-B (02493) —— Higher risk, prone to failure, large capital occupation.