Mixed Fortunes for Four Chinese Companies' Hong Kong Trading Debuts

By Sherry Qin

Four Chinese companies from diverse sectors including artificial intelligence and manufacturing had mixed trading debuts in Hong Kong, after raising a total of $1.83 billion.

RoboTechnik Intelligent Technology, which had the biggest offering of the four, fell as much as 9.8% from its initial public offering price and was last down 6.8% at HK$406.20 in morning trading Tuesday. It reported gross proceeds of HK$5.18 billion, equivalent to US$660.2 million, from the sale of 11.9 million shares.

The company makes equipment and testing systems for the photovoltaic and silicon photonics industry. The products manufactured or processed using its equipment are used mainly in data centers, cloud networks and high-performance computing.

Shares of printed circuit board manufacturer Shenzhen Kinwong Electronic last jumped 7.5% from their Hong Kong offering price to HK$75.15. The company, which is already listed in Shanghai, raised HK$5.10 billion in gross proceeds from the sale of 72.9 million shares.

Red Avenue New Materials, which specializes in production and sales of new materials, such as rubber additives and electronic materials, saw its shares fall as much as 14% from their Hong Kong offering price and was last 8.8% lower at HK$40.14. The Shanghai-based company raised HK$3.00 billion in gross proceeds via the share sale.

Direct Drive Tech, which makes robots and robot actuator modules, raised HK$1.08 billion in gross proceeds from its initial public offering of 50 million shares. Its shares were last 6.0% higher at HK$22.90, after gaining 4.1% at the open.

Write to Sherry Qin at sherry.qin@wsj.com

(END) Dow Jones Newswires

September 29, 2026 00:14 ET (04:14 GMT)