According to Caixin, on March 13 (editor Hu Jiarong), the Hong Kong stock market has recently entered a correction phase, but a group of Recent IPOs has been strengthening against the trend, attracting significant market attention. As of the time of this report, $LAOPU GOLD (06181.HK)$ 、$DOBOT (02432.HK)$、$MIXUE GROUP (02097.HK)$、$BLOKS (00325.HK)$In the year, it has cumulatively risen by 184%, 165.4%, 97.93%, and 93.21%.

• Yuejiang continues to benefit from bullish conditions in the Siasun Robot&Automation market, with an increase of more than 1.6 times this year.

$DOBOT (02432.HK)$ Today, the stock price surged again, rising nearly 22%, with the intraday price reaching a new all-time high; the stock has increased more than 1.6 times this year and doubled in the month.

Yuejang Technology has emerged in the field of intelligent robotics, and recently released the world's first industrial-grade full-size humanoid robot, Dobot Atom, causing a stir in the industry. This innovative product, featuring a 1.53-meter bionic structure and self-neural driving system, has reached scene collaboration agreements with several leading automotive and electronic manufacturers, with mass production expected by mid-2024.

The prospectus shows that the company's existing collaborative robot product matrix covers a load range of 0.25-20 kilograms, with a customer list including Fujifilm Holdings Corporation Unsponsored ADR.$Contemporary Amperex Technology (300750.SZ)$Like manufacturing giants, it highlights their deep accumulation in the field of industrial automation.

• Lao Feng Xiang has seen an increase of over 180% this year.

Deeply engaged in ancient craft Gold technology. $LAOPU GOLD (06181.HK)$ With unexpected performance growth, it has become the leader in this round of Recent IPOs market. The company's latest announcement shows that the net income for the entire year of 2024 is expected to reach 1.4-1.5 billion yuan, with an annual growth rate of 236%-260%.

In addition, the 5%-12% price increase strategy for the entire product line in February 2025 continues to strengthen its Luxury Goods positioning. Although Morgan Stanley has given a "Market Perform" rating affirming its high-end strategy, the current rolling PE of 135 times has already significantly exceeded.$CHOW TAI FOOK (01929.HK)$(19.3 times),$Lao Feng Xiang (600612.SH)$(12.8 times) Compared to peers, valuation discrepancies are intensifying market volatility.

• Mixue Group breaks the previous record for bubble tea price drop.

Leading brands in freshly made tea drinks. $MIXUE GROUP (02097.HK)$ With the advantage of scale, it is rewriting the Industry landscape. The latest Company Business Data shows that the company has exceeded 0.045 million global stores. In the first three quarters of 2024, it achieved revenue of 18.7 billion yuan and a Net income of 3.5 billion yuan, with average daily sales per store rising against the trend to 4,184 yuan.

It is worth noting that the Mixue Group rose 43.21% on its first day, breaking a record.$NAYUKI (02150.HK)$、$CHABAIDAO (02555.HK)$、$GUMING (01364.HK)$Waiting for peers to break the "falling below IPO price" curse on their first day.

Soochow Research Reports emphasize that its 92% franchisee survival rate and supply chain costs that are only 40% of the Industry average create a competitive barrier that is difficult to replicate. Since the company's listing on the Hong Kong stock market in March 2025, its Market Cap has surpassed 130 billion Hong Kong dollars, becoming an important benchmark for value re-evaluation in the Consumer Sector.

• Bloko and Mao Ge Ping continue to attract market attention.

Newcomers in the Toy Industry. $BLOKS (00325.HK)$ And the domestic beauty makeup leader. $MAO GEPING (01318.HK)$ Demonstrates a differentiated breakthrough path. Bluco shined at the Nuremberg and New York Toy Fairs, leveraging top IP licensing such as Ultraman and Transformers. In the first half of 2024, revenue surged 237.6% year-on-year to 1.046 billion yuan, but a net loss of 0.255 billion yuan exposed the pain of profitability amid rapid expansion.

Mao Ge Ping benefits from being included in the Hong Kong Stock Connect on March 10, with improved liquidity boosting its stock price. China Securities Co.,Ltd. Research Reports indicate that the company's main brand, leveraging the high-margin perfume category and leading offline space efficiency, is expected to see revenue growth exceeding 30% in 2024, with a multi-brand strategy set to gain momentum in the medium to long term.

Market analysts point out that the current Recent IPOs trend reflects both value discovery under new consumption trends and hints at sector differentiation risks. High-valuation symbols represented by Lao Pu Gold require sustained performance verification, while companies like Bloko that are still in the investment phase face challenges in their profit models.

Editor/jadyen