Meig Smart Technology (03268) commenced trading on its first day of listing. According to the announcement, the issue price was set at HK$28.86 per share, with a total of 40.25 million shares issued. Each board lot consists of 100 shares, and the net proceeds raised amounted to approximately HK$945 million. At the time of writing, the stock rose 3.81% to HK$29.96, with a turnover of HK$92.33 million.

The prospectus indicates that Meig Smart Technology is a leading global provider of wireless communication modules and solutions, with a focus on smart modules, particularly high-computing smart modules. According to data from Frost & Sullivan, in 2024, Meig Smart Technology ranked fourth in the global wireless communication module industry by revenue from its wireless communication module business, accounting for 6.4% of the global market share. The same source notes that the global wireless communication module market is highly concentrated, with the top three players accounting for 65.7% of global market revenue in 2024 (with the largest player alone holding a 42.7% market share). Despite ranking fourth, the company's market share stands at only 6.4%.

It is noteworthy that the Shanghai and Shenzhen Stock Exchanges issued announcements stating that Meig Smart Technology's H-shares are not subject to a price stabilization mechanism. Additionally, since the corresponding A-shares have been listed for 10 trading days, in accordance with relevant regulations, Meig Smart Technology will be included in the Hong Kong Stock Connect under the Shanghai-Hong Kong Stock Connect, effective from March 10.