Good morning everyone. Recently, four new stocks have been listed in Hong Kong stocks:

1⃣ Dano Medical
2⃣ Huaxi Da
3⃣ Yunyinggu Technology
4⃣ Shenyuan Intelligent
All four are recent IPOs of Hong Kong stocks (Dano Medical is nearing the deadline, the other three from May 18-21), with listing dates close together (May 22-27). Our small funds need to weigh the popularity, combined with oversubscription multiples, fundamentals/concepts, volume/allocation rate, and risks before making decisions.
1. Dano Medical-B (Code 06872) - Highest priority (Biotech innovative drugs, nearing commercialization)
Basic concept: Focused on anti-infection/Helicobacter pylori and other fields, its core product Rifuteniazole (related to the world's first triple therapy) has completed Phase III and submitted for listing, another product TNP-2092 targets implant infections. Unique pipeline, close to commercialization stage.
Issue price: HKD 75.7 per share, 50 shares per lot (entry fee ≈ HKD 3,823), fundraising ≈ HKD 558 million net, cornerstone ratio ≈ 37%, with greenshoe option. Mechanism B, limited volume (total lots ≈ 16,562).
Popularity: Margin trading is extremely high (some data over a thousand times, even higher), low IPO success rate (expected lottery), but strong concept (innovative drugs + unmet needs for Helicobacter pylori), good sponsor influence.
Risks: Not yet commercialized, ongoing losses (R&D driven), valuation pressure from the broader market/biotech sector. Cautious participation recommended, mainly lottery-like.
Why priority: Unique pipeline + highest popularity, potential strong short-term catalysts on the first day.
2. Shenyuan Intelligent (Code 02723) - Second priority (AI marketing decision leader)
Basic concept: China’s leading AI application market for marketing/sales decisions (market share 2.6%), serving over 60 Fortune 500 companies, flagship platforms AlphaDesk (intelligent ad placement) and AlphaData (data management). AI concept is hot.
Issue price: HKD 43.5-55.5 per share, 100 shares per lot (entry fee ≈ HKD 5,606), maximum fundraising ≈ HKD 500 million. Mechanism B.
Popularity: Over-allotment on the first day exceeded 14-35 times (continuing to rise), volume is tight, success rate is lower but better than Dano.
Risks: Revenue depends on low-margin advertising, gross profit margin/profit faces downward pressure, fierce competition.
Why second priority: Because it’s part of the AI boom + leading position, concept aligns with market preferences, popularity is balanced.
3. Yunyinggu Technology (Code 03310) - Medium (AMOLED display driver chips)
Basic concept: It is the fifth-largest global supplier of AMOLED display driver chips for smartphones, focusing on high-end and mass markets, fabless model, collaborating with panel manufacturers and brands. Display chip localization concept.
Issue price: HKD 20.81 per share, 200 shares per lot (entry fee ≈ HKD 4,204), fundraising ≈ HKD 1.1 billion, with cornerstone investors (≈ HKD 389 million). Mechanism B.
Popularity: Over-allotment on the first day ≈ 5-11 times (ongoing), general popularity but volume is moderate.
Risks: Low price to gain market share leading to increased losses (continued losses from 2023-2025), past financial data had contradictions, fierce competition (Huawei, Goodix, etc.).
Why third: Chip concept is stable, but profitability pressure is high, popularity is not as strong as the first two.
4. Huaxi Da (Code 00901) - Lowest priority (Smart home/home appliance chips)
Basic concept: It is a provider of smart home products (streaming media terminals, projectors, etc.), integrated with Google ecosystem, profit grew last year but overall still traditional hardware.
Issue price: HKD 32.8 per share, 100 shares per lot (entry fee ≈ HKD 3,313, minimum), fundraising ≈ HKD 630 million. Mechanism B.
Popularity: Over-allotment on the first day ≈ 4.5-13 times, low entry barrier but concept is relatively flat.
Risks: Mainly hardware, growth potential is average, Hong Kong stocks’ valuation for home appliances/consumer electronics is not high.
Why last: Because its fundamentals are the most stable but lack explosive concepts, suitable for small funds to try a hand.
That’s all I’ll say for now. How to play specifically still depends on your own decisions.