QIYUNSHAN FOOD (02797) shares experienced a significant pullback on their second day of trading, falling over 34% following a surge of more than 160% on the previous day. At the time of writing, the stock was down 34.1%, trading at HK$13.84 with a turnover of HK$18.57 million.

The company is a fruit-based snack producer primarily focused on selling products made from southern sour jujube, with its core offerings being southern sour jujube cake and southern sour jujube granules.

Financial Performance Overview

The company's historical financial performance has shown some volatility. For the years 2023 through 2025, its revenue was RMB 247 million, RMB 339 million, and RMB 314 million, respectively. Corresponding net profits were RMB 23.705 million, RMB 53.199 million, and RMB 48.925 million.

This fluctuation in performance has been attributed to factors including a reduction in sales orders for its southern sour jujube cake from a particular customer, as well as the base effect from the Lunar New Year period.

It was noted that the company's recent initial public offering did not involve cornerstone investors.