New shares first day | CONCH MAT TECH(02560) first listed, opened 40% lower in morning trading.

CONCH MAT TECH (02560) was first listed on the market. The announcement shows that the price per share is 3 Hong Kong dollars, with a total of 145 million shares issued, and 1000 shares per lot, resulting in a net amount of approximately 396 million Hong Kong dollars. As of the time of writing, the price has dropped by 40% to 1.8 Hong Kong dollars, with a trading volume of 21.8144 million Hong Kong dollars. Public information shows that CONCH MAT TECH is a fine chemical material supplier that produces and sells cement additives, concrete additives, and related upstream materials. With the company's research and development efforts and capabilities, the company also provides technical support related to the products it offers to customers. According to Frost & Sullivan data, based on cement additive sales and revenue for the 2023 fiscal year, the company ranks first in China with market shares of approximately 28.3% and 32.3%, respectively. It is reported that the company's product portfolio includes cement additives, concrete additives, and related raw materials. Products mainly include various types of cement additives and concrete additives; process intermediates for cement additives (i.e. alkylamines); and process intermediates for concrete additives (i.e. polyether monomers and polycarboxylate mother liquor). Cement and concrete additives are used in the production process of cement and concrete to accelerate production processes, save energy consumption, reduce raw material usage, and improve the cost efficiency of customer production.