TONGSHIFU's stock plummeted 39.17% intraday on Tuesday, as the shares made a weak debut in Hong Kong.

The stock opened at HK$35.42 per share, significantly below its final offer price of HK$60.00 per H share under its global offering. This opening price represents a discount of approximately 40.97% to the IPO price, leading to the sharp decline in early trading.

The company had previously set the final offer price at HK$60.00 per share, but market reception at the debut was much lower than expected, resulting in the steep drop.