Hong Kong saw five new Chinese tech and artificial intelligence companies debut on Wednesday, with BASiC Semiconductor leading the gain by rising nearly 8 percent.
BASiC Semiconductor (9971), a silicon carbide power device and integrated device manufacturer, increased by 7.9 percent to HK$34.12, delivering a paper gain of HK$500 per 200 shares. The offer price is HK$31.62.
Leading Chinese provider of autonomous driving solutions for the mining industry, Eacon (7687), rose 3.5 percent to HK$91, compared to its offer price of HK$87.92. That translates to a paper gain of HK$154 per 50 shares.
Momenta Global (6880), a "physical AI" and autonomous driving technology company, rose 1.8 percent to HK$301, above its offer price of HK$295.6. That translates to a paper gain of HK$108 per 20 shares.
Reconova Technologies (7656), an artificial intelligence company, fell 16.9 percent to HK$18 from its offer price of HK$21.66. That translates to a paper loss of HK$732 per 200 shares. The company specializes in visual AI technologies, computer vision algorithms, and optical imaging systems for enterprise clients.
Shandong Baogai New Materials Technology (8090) opened flat at HK$6.22. The company is a manufacturer of composite materials, specializing in fiberglass-reinforced polymer products like cable trench covers, manhole covers, and charging pile housings.
As for e-paper display module manufacturer DKE, its listing has been postponed and is expected to debut on Thursday. The company said in its filing that additional time is needed to finalize the allotment announcement and obtain regulatory approvals.
