New stock first day | (02625) first trading day, opening 37.6% higher in early trading

(02625) was listed, and the announcement shows that the price per share is 2.5 Hong Kong dollars, with a total issuance of 53.562 million shares, and 1000 shares per lot. The net proceeds are approximately 92.55 million Hong Kong dollars. As of the time of writing, it has increased by 37.6% to 3.44 Hong Kong dollars, with a trading volume of 23.956 million Hong Kong dollars. Public information shows that it is a grain and oil wholesaler headquartered in Yangzhou, mainly focusing on supermarket and convenience store retail business under the brand "Hongxinlong" in the central region of Jiangsu Province. According to industry reports, the company ranked second among supermarket operators in Yangzhou in terms of sales in 2023, with a market share of approximately 9.1%. It also ranked fifth among supermarket operators in the central region of Jiangsu Province in terms of sales in 2023, with a market share of approximately 2.3%. As of the latest practicable date, the company operates 51 supermarkets and 109 convenience stores in Jiangsu Province, with 49 supermarkets and 108 convenience stores located in Yangzhou, and two supermarkets and one convenience store located in Taizhou. In addition to supermarkets and convenience stores, the company also operates two shopping malls in Yangzhou, namely Jiangdu Shopping Mall and Hongxinlong Shopping Center. As e-commerce becomes increasingly popular in China, the company has established two mini-programs, "Longhuigou" and "Hongxinlong Dandida," for its retail stores, as well as a mini-program for its shopping mall, "Jiangdu Shopping Mall." The company also cooperates with three major e-commerce platforms (Douyin, JD.com, and WeChat) to sell and deliver its products to customers online.