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HKG:0901

5 stories mentioning HKG:0901Updated 19d ago

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Asia

Hong Kong Stocks Fall on Persian Gulf Ceasefire Doubts; Three Firms Shine on Debut

Hong Kong stocks fell sharply on Wednesday as elevated oil prices and uncertainty over the durability of the U.S.-Iran ceasefire weighed on sentiment.The Hang Seng Index fell 1.1%, or 271.22 points, to close at 25,328.23, while the Hang Seng China Enterprises Index dropped 1.3%, or 113.87 points, to finish at 8,463.02.Iran said Tuesday that the U.S. had violated the ceasefire by launching strikes near the contested Strait of Hormuz, raising fresh doubts over prospects for ending the conflict.Meanwhile, Israel launched more than 120 airstrikes across Lebanon on Tuesday in one of the heaviest waves of bombardment in weeks, according to Lebanese security sources, Reuters reported.Tehran has demanded an end to Israeli operations in Lebanon as part of any broader agreement.Meanwhile, oil prices retreated from recent highs, giving back part of the previous session's gains as traders looked for clearer signals on U.S.-Iran negotiations after renewed hostilities disrupted efforts to reopen the Strait of Hormuz.In corporate news, three companies made their debut on the Hong Kong bourse.Viewtrix Technology (HKG:3310) closed nearly 92% higher at HK$39.90, compared with its offer price of HK$20.81.Shenzhen SDMC Technology (HKG:0901) gained 87% to close at HK$61.20, versus its offer price of HK$32.80.Beijing DeepZero Technology (HKG:2723) advanced nearly 266% to end the session at HK$203, compared with its offer price of HK$55.50.

Hang SengHKG:0901HKG:2723HKG:3310
Asia

Shenzhen SDMC Technology Soars 101% in Hong Kong Trading Debut

Shenzhen SDMC Technology's (HKG:0901) shares opened 100.6% above their initial public offering price in a stellar Hong Kong debut on Wednesday morning.The Chinese smart home products provider opened at HK$65.80 per share, well above the offer price of HK$32.80.

HKG:0901
Asia

Shenzhen SDMC Technology Nets HK$570 Million in Hong Kong IPO Ahead of Debut

Shenzhen SDMC Technology (HKG:0901) raised HK$570 million in net proceeds from its initial public offering in Hong Kong.The offer price was set at HK$32.80 per H-share, according to a Wednesday filing with the Hong Kong Stock Exchange.The Chinese smart home products provider offered 19.2 million H-shares in the global offering.The Hong Kong public offer was 1,971.99 times subscribed, with a final allocation of 1.9 million shares, representing 10% of the total offering.The international offering was 2.23 times subscribed, with a final allocation of 17.3 million shares, or 90% of the total offering.Shenzhen SDMC Technology is set to debut on the Hong Kong bourse on Wednesday, May 27.

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Asia

Hong Kong Stocks Begin Week in Red; Three Mainland Firms File for IPO

Hong Kong shares fell Monday as the ongoing conflict in the Middle East showed no signs of letting up and a closely watched meeting between U.S. President Donald Trump and Chinese President Xi Jinping failed to yield any major trade or geopolitical breakthroughs.The Hang Seng Index fell by around 287.55 points, or roughly 1.1%, to end at 25,675.18, while the Hang Seng China Enterprises Index decreased by 93.06 points, or also around 1.1%, to close at 8,597.97.Fresh drone attacks in the Gulf regions pushed oil prices and bond yields higher on Monday, according to a Reuters report. Investor sentiment was further dampened after President Trump warned that the "clock is ticking" before the U.S. launches harder strikes.Elsewhere, China and the U.S. agreed to establish Trade and Investment Councils, pursue reciprocal tariff reductions, and address non-tariff barriers on agricultural goods. China also pledged to address U.S. concerns on beef plant registrations and poultry exports.However, despite expectations of China buying "double-digit billions" in U.S. farm goods over three years, no details on products, prices, or volume have been released.In corporate news, three mainland firms filed to go public in Hong Kong while another made its trading debut.Chinese AMOLED display designer Viewtrix Technology (HKG:3310) said it was looking to raise HK$1.10 billion via the sale of 52.9 million shares at HK$20.81 apiece. Net proceeds will be used mainly to support the research and development and optimization of AMOLED TDDI chips, the firm said.Shenzhen SDMC Technology (HKG:0901), a Chinese smart home products provider, said it was targeting HK$630 million via an offer of 19.2 million shares at HK$32.80 apiece. Net proceeds will be used mainly to invest in AI home-related technologies, according to the firm.Meanwhile, Chinese AI-driven marketing technology company Beijing DeepZero Technology (HKG:2723) is seeking up to HK$503.3 million by going public in Hong Kong. The firm is offering 9.1 million shares at an indicative maximum price of HK$55.50 per share to raise funds for the research and development of its AI-powered marketing and sales application products.Elsewhere, Robotphoenix Intelligent Technology (HKG:6871) soared in its marketing debut after closing at HK$54.65 per share, 76% higher than the offer price of HK$30.50.

Hang SengHKG:0901HKG:2723HKG:3310HKG:6871
Asia

Shenzhen SDMC Technology Launches HK$630 Million Hong Kong IPO

Shenzhen SDMC Technology (HKG:0901) launched its Hong Kong initial public offering on Monday, seeking to raise about HK$630 million from the deal.The Chinese smart home products provider is offering 19.2 million shares at HK$32.80 apiece, according to a Hong Kong bourse filing.The offering comprises 1.9 million shares for Hong Kong investors and 17.3 million shares for international investors, subject to reallocation and the offer size adjustment option.The Hong Kong public offering closes on May 21, with allocation results due by May 26, ahead of the company's planned trading debut on May 27.Net proceeds will be used mainly to invest in AI home-related technologies, enhance the company's market position, and develop new products.The funds will also be used for global expansion, investments in upstream and downstream market players, and for working capital and general corporate purposes.China Securities (International) Corporate Finance is acting as sole sponsor, sole sponsor-overall coordinator, sole overall coordinator, and sole global coordinator.China Securities (International) Corporate Finance, CMB International Capital, CCB International Capital, ABCI Capital, CNCB (Hong Kong) Capital, Get Nice Securities, Forthright Securities, and Roofer Securities are acting as joint bookrunners and joint lead managers.

HKG:0901