HK Stock Market Move | Tongrentangcare (02667) falls more than 6% to new low, down 40% from IPO price in 3 days of trading.

TONGRENTANGCARE (02667) fell by more than 6% again, hitting a new low of 2.85 Hong Kong dollars during trading. The stock was listed on July 7th, opening day saw a sharp decline of 39.09%, and this downward trend continued for the next two trading days. As of the time of writing, the stock has fallen by 6.09%, trading at 2.93 Hong Kong dollars, with a turnover of 91.323 million Hong Kong dollars. It is reported that TONGRENTANGCARE is the fourth listed company of the Beijing Tongrentang Group, with its core business being traditional Chinese medical services, and also selling products like Angong Niuhuang Wan. Financial data shows that the company achieved revenues of 1.153 billion, 1.175 billion, and 1.171 billion respectively in 2023, 2024, and 2025, with annual profits of 42.634 million, 46.197 million, and 33.75 million. In 2025, the net profit decreased by approximately 26.94%, mainly due to a decline in sales of health products and other products. It is worth noting that after four rounds of submissions, the company passed the listing hearing of the Hong Kong Stock Exchange. The first round of public offering was launched in March of this year, initially scheduled for listing on March 30th, but was urgently announced to be postponed towards the end of the issuance. Three months later, TONGRENTANGCARE restarted global sales and drastically reduced the offering price range from the original 7.3 Hong Kong dollars to 8.3 Hong Kong dollars to 5.48 Hong Kong dollars to 6.21 Hong Kong dollars. It finally priced at 5.50 Hong Kong dollars, very close to the lower limit of the range, raising a total of approximately 595 million Hong Kong dollars, with a net amount of around 532 million Hong Kong dollars.