On June 5, Dajin Heavy Industry (01081.HK) fell 5.87% in regular trading on its first day of Hong Kong listing, trading at HK$60.7 per share, with trading volume reaching HK$577 million. The stock opened flat at its IPO price of HK$66.40 before sliding sharply below that level.

The decline comes despite exceptionally strong subscription demand during the IPO process. The Hong Kong public offering was oversubscribed 134.39 times, while the international placement received 10.68 times oversubscription. The company issued 100 million shares at HK$66.40 each, raising net proceeds of approximately HK$6.465 billion. The one-hand allocation rate for retail investors was only about 3%, reflecting intense demand during the book-building phase that has not translated into post-listing price support.

Dajin Heavy Industry is a global leading offshore wind power core equipment supplier with nearly two decades of experience in the wind power industry, providing one-stop solutions covering manufacturing, transportation, and delivery of wind power foundation equipment for major global offshore wind developers. The company recently launched its Deep Blue Strategy targeting the deep-sea wind power market and signed vessel construction contracts worth approximately US$300 million with Norwegian and Greek shipowners.

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