【New Stock IPO】Youlesai 2649 first listed with a deep dip close to 44%, losing 2,400 yuan per lot; Eston 2715 opened flat and closed down 16%; Zhaowei Electromechanical 2692 maintained stability

Youle Sai Shares (02649) , Zhaowei Electromechanical (02692) and Eston (02715) Three new stocks listed, with two declining and one rising. Among them, Youle Sai performed the worst, dropping nearly 44%.

The Youle Sai Shares, priced at 11 yuan, opened lower and continued to decline on debut, opening at 7.5 yuan, down 31.8%. It closed the day at 6.2 yuan, a decrease of 43.6%. One lot of 500 shares results in a paper loss of 2,400 yuan.

Eston, an industrial robotic manufacturer, also declined. It opened at 15.36 yuan but traded downward during the day, closing at 12.9 yuan, down 16.02%. One lot of 200 shares results in a paper loss of 492 yuan.

Zhaowei Electromechanical, a provider of integrated micro transmission and drive systems, managed to stay afloat. It opened at 78 yuan, 9.4% above the IPO price of 71.28 yuan, and closed at 73 yuan, up 2.4%. One lot of 100 shares results in a profit of 172 yuan.

Results of the three new stock allocations

Additionally, the allocation results show that the three new stocks were heavily oversubscribed in the Hong Kong public offering, with oversubscription ratios of approximately 5,296 times, 1,536 times, and 19 times, respectively. The success rate for winning a lot was 0.04%, 4%, and 4.99%, respectively.

Youle Sai Shares received 162,571 applications in the public offering, with 4,068 accepted. The stock was oversubscribed by 4075 applicants (“top-up” applications), with only 1,043 applicants receiving one lot.

Zhaowei Electromechanical received 180,292 applications, with 23,940 accepted. Only applicants with 3,000 lots (300,000 shares) or more were guaranteed one lot; 317 applicants were “top-up” applicants, each receiving 4 lots, with 50 receiving an additional lot.

Eston received 27,190 applications, with 6,799 accepted. Only applicants with 25 lots (5,000 shares) or more were guaranteed one lot; 2 applicants were “top-up” applicants, each receiving 1,313 lots.

The three new stocks traded in the dark pool last Friday (6th). Zhaowei Electromechanical rose over 15%, Eston fell more than 7%, and Youle Sai showed mixed performance.

• Youle Sai Shares: peaked at 30.86 yuan during the session, 181% above the 11 yuan issue price. One lot (500 shares) would have a paper profit of 9,930 yuan. The closing performance was mixed: Bright Talent and CICC declined nearly 1%, while Futu surged 27%.
• Zhaowei Electromechanical: dark pool closed up about 16% at 18 yuan, with one lot (100 shares) earning between 1,127 and 1,282 yuan.
• Eston: dark pool closed down about 7% at nearly 10 yuan, with one lot (200 shares) showing a paper loss of over 232 to 292 yuan.

Youle Sai Shares (2649) dark pool

Youle Sai Shares plans to issue 20.36 million shares, with 10% for public offering, raising approximately 285 million yuan. No cornerstone investors were involved in this IPO. The original offer price range was 11 to 14 yuan.

Zhaowei Electromechanical (2692) dark pool

Zhaowei Electromechanical plans to issue 26.7483 million H-shares, with 10% in the public offering, raising up to 1.971 billion yuan. The maximum initial offering price was 73.68 yuan per share.

Eston (2715) dark pool

Eston plans to issue 96.78 million H-shares, with 10% in the public offering, raising up to 1.645 billion yuan. The original offer price range was 15.36 to 17 yuan.

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