On July 9, Luxshare Precision, the leader in precision manufacturing of consumer electronics and the "biggest brother of Fruit Chain", officially listed on the Hong Kong Stock Exchange, completing the "A+H" dual listing layout. At the same time, the scale of fundraising won the largest IPO seat in Hong Kong stocks in 2026. However, as of midday on the first day of listing, Luxshare Precision did not have a good start. The black market had also broken through the previous day. Among the retail investors who participated in the new trading, one lot (100 shares) now suffered a floating loss of more than HK$300.

Brokerage App predicts "100% winning rate"

According to public information, the final price of Luxshare Precision's H-share issuance was HK$63.28 per share, with an issuance scale of 383.5 million shares. The total amount raised was approximately HK$24.3 billion, ranking first in the Hong Kong new stock market this year.

Hong Kong stock investor Yuan Yuan (pseudonym) told Sino-Singapore Jingwei that on July 1, when he opened the stock trading software, he saw that there were several new stocks available for subscription and subscribed for Luxshare Precision. "At that time, I thought it was the leading stock of Fruit Chain and it would be very popular. I didn't expect that I would win with one move."

Yuanyuan told Sino-Singapore Jingwei that after winning the lottery, he saw that the brokerage software predicted that the lottery rate of 100% was 100%, and he felt that "something was not good". "Sure enough, the dark market fell yesterday afternoon, and it did not get up at the opening today."


Photo provided by interviewee

On the 9th, after the opening of Hong Kong stocks, Luxshare Precision once fell by more than 7%. As of midday closing, it fell by more than 5%, and was quoted at HK$60 per share. Based on this calculation, the loss on the first hand is HK$328.

Cornerstone investors also suffered losses

Judging from the prospectus, Luxshare Precision's Hong Kong stock IPO lineup is luxurious, and well-known institutions such as Temasek and Hillhouse have participated in the placement and become core cornerstone investors.

Public information shows that 26 institutions formed a cornerstone investor group and subscribed for a total of 185.7 million H shares, accounting for 48.44% of the total number of H shares sold globally, and nearly half of the shares were locked.

According to the final offering price and allotment results announcement disclosed by Luxshare Precision on July 8, judging from the final scale of allotment, HHLRA, a subsidiary of Hillhouse Group, was allocated 24.7651 million shares, accounting for 6.46% of the total H-share capital after the global offering; Temasek's Taibai Investment and True Light were allocated a total of 24.7651 million H shares, accounting for 6.46% of the total H-share capital after the listing. GIC, the Government of Singapore Investment Corporation, was allocated 18.5738 million shares, accounting for 4.84% of the share capital of H shares. In addition, CPE Neem, Hong Kong Jinglin, Foresight Funds and other institutions have all allocated more than 8 million shares.


Screenshot source: Announcement

As the black market broke and opened lower on the first day, many institutions also fell into a state of floating losses.

In fact, the Hong Kong stock market is not a "guaranteed profit but no loss". Judging from the recent listing of new stocks, Ruiwei Technology fell by 3.05% on the first day, Tongrentang Medical Care fell by 39.09% on the first day, and Lingyi Intelligent Manufacturing fell by 4.62% on the first day. There are also some new stocks that rose sharply on the first day of listing. For example, Sturgeon Technology rose 50.99% on the first day, Lebang Pharmaceutical-B rose 103.54%, and Baige Online rose 367.95%.