Dipu Technology (01384) surged 100% in the dark market! Hong Kong stocks' "over-subscription king" ignites AI investment craze.

On October 27, the new stock Daping Technology (01384) soared by a maximum of 100.30% in the dark market, reaching 53.40 Hong Kong dollars. The final closing price in the dark market was 51.90 Hong Kong dollars, a 94.67% increase from the issue price. The turnover reached 139 million Hong Kong dollars, and the market value rose to approximately 16.952 billion Hong Kong dollars. With 200 shares per hand and no transaction fee, each hand earned 5048 Hong Kong dollars. Afternoon dark market trading started, with funds continuing to flow in from the market, pushing the stock price steadily higher. The performance during trading hours significantly exceeded market expectations, reflecting the reluctance of successful applicants to sell. Market observers pointed out that a significant rise in the dark market usually indicates a good performance on the first formal trading day. Investors should focus on the opening price and subsequent trends tomorrow and seize the trading opportunities. It is reported that Daping Technology was highly sought after during the public offering stage, with a subscription ratio of 7590 times, attracting approximately 239,000 investors to participate in the subscription, making it the most oversubscribed new stock in the history of the HKEx Main Board. Huanghe Securities and Leifermor Securities served as the main underwriters for Daping Technology. Not only was the market extremely hot, but institutional allocations were also boiling! Global renowned long-term funds such as VanCapital, BlackRock, Symmetry, Millennium, Schonfeld, Balyasny, D.E.Shaw, Orix, Ghisallo, Jump Trading, and others actively participated, with six of the top ten global asset management long-term funds joining. The hot trading in the dark market reflects the market's high recognition of Diping Technology's business layout and future growth potential. It is understood that Daping Technology, with its core drivers being the "FastData Foil Data Fusion Platform" and the "Deepexi Enterprise Large Model Platform," has successfully implemented its operations in various vertical industries, including consumer retail, manufacturing, medical, and transportation. As of June 30, 2025, Daping Technology has served a total of 283 enterprise users in various industries, with 94 repeat customers, accounting for 33.2% of the company's customer base, reflecting the high customer stickiness and satisfaction of Daping Technology. The solid progress of its business has brought strong growth momentum to Daping Technology. During the period from 2022 to 2024, the company's revenue increased from 1 billion RMB to 2.43 billion RMB. In the first half of 2025, the revenue increased significantly by 118.4% year-on-year to 1.32 billion RMB, with the FastAGI enterprise AI solution business witnessing a rapid growth in revenue by 191% year-on-year. As the company expands its scale, the quality of its profitability has significantly improved. Data shows that from 2022 to 2024, Daping Technology's gross profit margins were 29.4%, 40.1%, and 51.9% respectively, and increased to 55% in the first half of 2025. For investors who have a long-term bullish view on the application of artificial intelligence, Daping Technology's demonstrated potential in technology accumulation and commercialization practices warrants continuous attention. It is recommended that investors closely monitor the business progress and performance release rhythm after the company goes public, seize the structural opportunities in the rapid development of the AI industry, and make reasonable investment allocations based on a full understanding of the company's business model and development prospects.