HK Stock Market Move | GOLDEN LEAF INT (08549) fell more than 20%, with the stock price now experiencing three consecutive declines, trading at less than 90% of its IPO price.

Golden Leaf International (08549) plunged 20%. The stock officially listed on October 10, soaring 330% on that day. Since then, the stock price has continuously declined for three days, reaching a new low of 0.93 Hong Kong dollars today, which is less than 90% higher than the offer price of 0.5 Hong Kong dollars. As of press time, it has dropped by 22.5% to 0.93 Hong Kong dollars, with a trading volume of 12.3298 million Hong Kong dollars. According to the prospectus, Golden Leaf International is an established contractor in the mechanical and electrical engineering industry, focusing on supplying, installing, and maintaining HVAC, electrical, and water supply systems. It mainly undertakes private projects as the main contractor. Financially, the revenue of GOLDEN LEAF INT is expected to increase significantly from around 123 million Hong Kong dollars in the 2023/24 fiscal year to around 155 million Hong Kong dollars in the 2024/25 fiscal year, with annual profits also increasing from around 10.4 million Hong Kong dollars in the 2023/24 fiscal year to around 14.1 million Hong Kong dollars in the 2024/25 fiscal year. The company expects a significant decrease in net profit for the 2025/26 fiscal year compared to the 2024/25 fiscal year, mainly due to increased listing expenses. It is worth mentioning that according to Wind data, GOLDEN LEAF INT is the only new stock this year with a subscription multiple of over 10,000 times. In addition, the total amount raised by GOLDEN LEAF INT this time is only 50 million Hong Kong dollars. After deducting listing expenses of 18.7 million Hong Kong dollars, the net amount raised is only 31.3 million Hong Kong dollars.