On July 20, EACON Group fell 5.46% in regular trading, trading at HK$87.2/share, with turnover of HK$10.74 million. The stock has again broken below its IPO price of HK$87.92.

The company listed on the Hong Kong Stock Exchange on July 8 at the top of its offer range at HK$87.92 per share, raising approximately HK$2.30 billion. Despite a 158x oversubscription in the public offering and institutional orders of around HK$20.6 billion, the stock has been under sustained selling pressure since debut. The company remains loss-making with cumulative losses exceeding RMB 1.2 billion and persistently negative operating cash flow. Revenue from its top five customers still accounts for 66.3% of total income, raising concerns about near-term profitability. Post-IPO profit-taking and valuation correction pressure continue to weigh on the shares.

EACON Group is China's largest autonomous mining haulage solution provider, commanding a 55.5% market share by active fleet size with 2,580 deployed autonomous mining trucks as of end-2025. Revenue grew at a 130.2% CAGR from 2023 to 2025, reaching RMB 1.435 billion.

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