Jixin State Control (08629) rose more than 5% the day after listing, to a high of HK$10.74 and recovering the offering price of HK$9.9. The stock opened nearly 30% higher yesterday and gradually declined in the afternoon. Eventually, it fell below the issue price and closed down more than 4%.
The Zhitong Finance App learned that Jixin State Control (08629) rose by more than 5% the day after listing, to a high of HK$10.74 and recovering the offering price of HK$9.9. The stock opened nearly 30% higher yesterday and gradually declined in the afternoon. Eventually, it fell below the issue price and closed down more than 4%. As of press release, it rose 5.26% to HK$10, with a turnover of HK$2.2973 million.
According to reports, Jixin State Control is mainly engaged in construction engineering inspection and inspection services. It mainly provides construction engineering inspection services including foundation inspection services, infrastructure and public road inspection services, building materials inspection services, and building structure inspection services. The company mainly serves customers in Maoming, Guangdong Province.
In terms of performance, the revenue for FY2021, 2022, and 2023 was RMB 39.781 million, RMB 19.966 million, and RMB 41.5 million respectively. The compound growth rate for the fiscal year was 2.14%. Net profit for the same period was RMB 17.737 million, RMB 2.912 million, and RMB 13.254 million, respectively.