New stock first day | Impression Dahongpao (02695) made its debut on the market with an early trading drop of 9.44%. The company is deeply cultivating the cultural tourism and performance market of Wuyi Mountain.

Impression Da Hong Pao (02695) makes its debut on the stock market, with an announcement revealing that the shares were priced at HK$3.6 per share, with a total of 36.1 million shares issued, and trading units of 1000 shares each, resulting in a net amount of approximately HK$104 million. As of the time of writing, the stock has fallen by 9.44% to HK$3.26, with a trading volume of HK$88.14 million. According to the prospectus, Impression Da Hong Pao is a state-owned cultural and tourism service enterprise headquartered in Wuyishan, Fujian Province. Based on data from Frost & Sullivan, the company ranks eighth in the Chinese cultural and tourism performance market in 2024 based on sales revenue generated from cultural and tourism performances. The company's performance and entertainment services segment includes three main services: the iconic performance "Impression Da Hong Pao" landscape live performance; the new performance "Moonlit Wuyi" launched in May 2025; and custom performances for corporate clients, who typically engage the group to perform at their special corporate events (such as team building activities and annual meetings). The company's main focus is on the iconic performance - "Impression Da Hong Pao" landscape live performance. According to Frost & Sullivan data, this performance is the first large-scale outdoor landscape live performance in Fujian Province and has historically been the group's main source of revenue.