On July 17, Yikong Zhijia (07687.HK) fell 7.59% in regular trading, trading at 79.0 HKD/share, with turnover of 8.3145 million HKD. The stock has broken below its IPO price of 87.92 HKD, less than two weeks after its Hong Kong listing on July 8.

The company debuted on the HKEX at the top of its pricing range at 87.92 HKD per share, raising approximately 2.298 billion HKD through the issuance of 26.132 million shares. Despite 158x retail oversubscription and around 20.6 billion HKD in institutional orders during the offering, the stock has faced persistent post-listing selling pressure. Market concerns center on high customer concentration, dependence on a limited number of major clients, and intensifying industry competition, raising doubts about near-term profitability and triggering ongoing profit-taking and valuation correction.

Yikong Zhijia is a national-level specialized enterprise focused on mining autonomous driving. The company has deployed over 2,580 active unmanned mining trucks in China, commanding a 55.5% market share by active fleet size, ranking first in the domestic mining autonomous driving sector.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)