Cipani (02583) fell more than 10%. The stock was listed on September 30 this year, and closed at HKD 194 yesterday, hitting a new high. This represents a cumulative increase of 555% from the offering price of HKD 29.6.
According to Zhitong Finance, Shares of Cipuni (02583) dropped over 10%. The stock was listed on September 30 this year and closed at HKD 194 yesterday, reaching a new high. This represents a cumulative increase of 555% compared to the offering price of HKD 29.6. As of press time, it fell 9.74% to HKD 175.1, with a turnover of HKD 13.2546 million.
Public information shows that Cipuni is a designer, manufacturer, and brand owner of gold watch cases and gold bezel watches in China. Its revenue mainly comes from sales of its flagship self-owned brand "HIPINE (Cipuni)", focusing on pure gold watches. Another part of its revenue comes from ODM business, providing OEM services for third-party jewelry brands and wholesalers.
From 2022 to 2024, the company’s revenue grew from RMB 320 million (RMB, unless otherwise stated) to RMB 456 million, with an annual compound growth rate of 18%. In the first five months of 2025, revenue reached RMB 230 million, representing a year-on-year increase of 22%. From 2022 to 2024, net profit increased from RMB 24 million to RMB 49 million, with an annual compound growth rate of 43%. In the first five months of 2025, net profit reached RMB 43 million, representing a year-on-year increase of 112%.
