Direct Drive (6731.HK), Tongcheng New Material (9607.HK), Robotech (3757.HK), and Jingwang Electronics (3228.HK) held their listing bell-ringing ceremonies at the Hong Kong Stock Exchange today, with all four new stocks debuting simultaneously. Only Direct Drive traded higher at the open, while the other three — Tongcheng New Material, Robotech, and Jingwang Electronics — broke their issue prices immediately.

Robotics technology company Direct Drive (6731.HK) listed today, with its share price at HK$22.48, having reached an intraday high of HK$23.66. As of press time, it was trading at HK$22.42, up 3.796%. Direct Drive planned to offer 50 million H shares, raising up to HK$1.08 billion, applying for listing under Chapter 18C of the Listing Rules, with 5% for Hong Kong public offering (subject to clawback of up to 20%), at an offer price of HK$21.6 per share, with a board lot of 100 shares and an entry fee of HK$2,181.78. CITIC Securities is the sole sponsor. The stock introduced two cornerstone investors, namely Hong Kong Science and Innovation and JSC International, investing a total of approximately HK$472 million.

Printed circuit board (PCB) product manufacturer Jingwang Electronics (3228.HK) had its share price at HK$65.00, having touched an intraday low of HK$64.20 and a high of HK$74.60. As of press time, it was trading at HK$72.55, up 3.821%. Jingwang Electronics planned to offer 72.9443 million H shares, raising up to approximately HK$5.1 billion, with 10% for Hong Kong public offering, at a maximum offer price of HK$69.88 per share, with a board lot of 100 shares and an entry fee of HK$7,058.47. CITIC Securities, BofA Securities, and Guolian Securities are joint sponsors. The stock introduced CPE Redwood, Zhongji Xuchuang, Hong Kong Maison, CIG, Singularity Asset, E Fund, Boshi International, Seven Grand, 3W Fund, Tianhong Fund, Ninety One Asia, JPMAMAPL, Barings, and Kingboard Holdings subsidiary KHL as cornerstone investors, with total subscription amounts of US$310 million.

Comprehensive new materials supplier Tongcheng New Material (9607.HK) debuted on its first day, with its share price at HK$40, having touched an intraday low of HK$38 and a high of HK$40.54. As of press time, it was trading at HK$39.12, down 11.09%. Tongcheng New Material planned to offer 68.1187 million H shares, raising up to approximately HK$3 billion, with 10% for Hong Kong public offering, at an offer price range of HK$39 to HK$44 per share, with a board lot of 100 shares and an entry fee of HK$4,444.38. Haitong International is the sole sponsor. The stock introduced cornerstone investors including CITIC Bank Investment, Full Truck Alliance, Goldshore, Happy Wisdom, Prinx Chengshan Hong Kong, Yang Quanhai, and Zhou Bo, with total subscription amounts of approximately HK$990 million.

Global supplier of manufacturing equipment and systems for the photovoltaic and silicon photonics industries Robotech (3757.HK) listed at HK$419.60, having touched an intraday low of HK$393.20. As of press time, it was trading at HK$396.00, down 9.174%. Robotech planned to offer 11.876 million H shares, raising up to HK$5.18 billion, with 10% for Hong Kong public offering, at a maximum offer price of HK$436 per share, with a board lot of 50 shares and an entry fee of HK$22,019.85. Huatai International, Citi, and Orient Securities are joint sponsors. The stock introduced Temasek, Shengtian Industrial, Ivy, E Fund, CIG, Winner Global Fund, Wind Sabre, Chengheng, Arrowpoint, Sino Opulence Fund, Luhua Asset Management, Bloom Capital, Lai Bolin, Xia Shengli, Zhu Guodong, and Zheng Xiaofeng as cornerstone investors, with total subscription amounts of approximately US$232 million.