A new listed company in Beijing, but unfortunately it plummeted by more than 50% on the first day of listing! It feels not as reliable as Chong Tu Gou? !
On December 6, Duodian Life (China) Network Technology Co., Ltd. from Beijing successfully landed on the Hong Kong Stock Exchange with an issue price of HK$30.21 per share. At the close of the first day, the stock price was HK$13.8 per share, a drop of 54.32%.
The founder of this company is Zhang Wenzhong, the founder of Wumart Group, and nearly 80% of the company's business is contributed by Wumart.
From 2021 to 2023, the company's revenue was 1.045 billion yuan, 1.501 billion yuan, and 1.75 billion yuan, respectively, and the net profit was -1.751 billion yuan, -807 million yuan, and -592 million yuan, respectively. More than 3 billion yuan was lost in three years!
It's a pity that I was born in the wrong family and went to Hong Kong to go public. If it were to triple on the first day of the A-share market, it would have bottomed out.