【New Stock IPO】Youlesai 2649 debuts with a nearly 32% drop at opening, losing 1,750 yuan per lot; Zhaowei Electromechanical 2692 opens nearly 10% higher; Eston 2715 opens flat

SocialAnxietyStaker · 2026-03-09T02:19:20+00:00

Youlesai Sharing, Zhaowei Electromechanical, and Eston had different performances on their first day of listing. Youlesai Sharing opened below the IPO price, Zhaowei Electromechanical above the IPO price, and Eston remained flat. The oversubscription multiples for the public offerings were 5296 times, 1536 times, and 19 times respectively. In the dark pool trading, Zhaowei Electromechanical's price rose, Eston declined, and Youlesai Sharing showed mixed performance, indicating varied market reactions.

SocialAnxietyStaker

2026-03-09 02:19:20

Abstract generation in progress

Youle Sai Shares (02649) Zhaowei Mechanical and Electrical (02692) Eston (02715) The three stocks debuted today with mixed performance. Youle Sai Shares opened at HKD 7.5, 31.8% below the IPO price of HKD 11, resulting in a paper loss of HKD 1,750 per lot of 500 shares. Zhaowei Mechanical and Electrical opened at HKD 78, 9.4% above the IPO price of HKD 71.28, earning HKD 672 per lot of 100 shares. Eston opened at HKD 15.36, matching the IPO price.

Subscription results show that the Hong Kong public offering for the three new stocks was oversubscribed approximately 5,296 times, 1,536 times, and 19 times respectively. The success rate for winning one lot was 0.04%, 4%, and 4.99%.

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 allocated one lot.

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

Eston received 27,190 applications, with 6,799 accepted. Only applications for 25 lots (5,000 shares) or more 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 Mechanical and Electrical rose over 15%, Eston fell more than 7%, while Youle Sai Shares showed mixed performance.

Youle Sai Shares: reached a high of HKD 30.86 during the session, 181% above the HKD 11 issue price, with a paper profit of HKD 9,930 per 500 shares. Closing performance was mixed: Bright Talent and CICC declined nearly 1%, Futu jumped 27%.
Zhaowei Mechanical and Electrical: closed up about 16% at HKD 18, earning HKD 1,127 to HKD 1,282 per lot of 100 shares.
Eston: closed down about 7% at nearly HKD 10, with a paper loss of HKD 232 to HKD 292 per lot of 200 shares.

Youle Sai Shares dark pool

Dark Pool Trading Venue	Price (HKD)	Change from HKD 11	Profit/Loss per 500 shares (HKD)	High-Low (HKD)
Bright Talent	10.9	-0.9%	-50	10.19-30.86
Futu	14	+27.3%	+1,500	13.66-30
CICC	10.9	-0.9%	-50	10.1-25

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

Zhaowei Mechanical and Electrical dark pool

Dark Pool Trading Venue	Price (HKD)	Change from HKD 71.28	Profit/Loss per 100 shares (HKD)	High-Low (HKD)
Bright Talent	82.8	+16.2%	+1,152	81-92
Futu	84.1	+18%	+1,282	82.5-90
CICC	82.55	+15.8%	+1,127	82-87

Zhaowei Mechanical and Electrical plans to sell 26.75 million H-shares, with 10% in the public offering, raising up to HKD 1.971 billion. The maximum initial offering price was HKD 73.68 per share.

Eston dark pool

Dark Pool Trading Venue	Price (HKD)	Change from HKD 15.36	Profit/Loss per 200 shares (HKD)	High-Low (HKD)
Bright Talent	14.1	-8.2%	-252	13.7-25.36
Futu	14.2	-7.6%	-232	14-15.5
CICC	13.9	-9.5%	-292	13.9-14.8

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

For updates on new stocks, please visit 【New Stock IPOs】.

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