To The Moon

1.Hong Kong $HSI(HSI)$ $HSTECH(HSTECH)$ IPOS

1.1 Last week’s Listings and First-Day Performance (3 companies)

• $NEWTREND GROUP(02573)$ A producer of food-grade sucralose and glycine additives. First-day performance: +21%.

• $RONGTA TECH(09881)$ : A provider of AIDC devices and solutions. First-day performance: +42%.

• $METALIGHT(02605)$ : A leading public transportation information service provider. First-day performance: -30%.

1.2 HK IPOs in Progress (4 companies)

• $HAITIAN FLAV(03288)$ (referred to as "the 'Soy Sauce King'"): A leading company in the soy sauce industry.

• $SANHUA(02050)$ : A global leader in refrigeration and automotive parts.

• $BAYZED HEALTH(02609)$ : A company engaged in investment and medical-related services, specializing in oncology.

• $TRANSTHERA-B(02617)$ : A biopharmaceutical company focused on small-molecule innovative therapies.

2 United States (US) $NASDAQ(.IXIC)$ $S&P 500(.SPX)$ IPOS

2.1 New Listings for the Week (9 IPOs, 6 on the Main Board)

• $AIRO Group Holdings(AIRO)$ : First-day performance: +140%.

• $Chime Financial, Inc.(CHYM)$ : First-day performance: +37%.

• $Vantage Corp. (Singapore)(VNTG)$ : First-day performance: -5%.

• $Voyager Technologies, Inc.(VOYG)$ : First-day performance: +82%.

• $Ategrity Specialty Holdings(ASIC)$ : First-day performance: +45%.

• $707 Cayman Holding Limited(JEM)$ : First-day performance: -3.75%.

Two companies with a market value of over ten billion dollars were listed last week, and their performance was relatively good.

3. Outlook for The coming Week's IPO Market

3.1 Hong Kong (HK)

New shares in the Hong Kong market are entering a hot period.

However, the speculative atmosphere is becoming more intense. The yield of $HAITIAN FLAV(03288)$ 's A+H shares will also decline. A "green tea incident" may occur sooner or later, and it might enter the "speed contest" phase earlier. Domestic TRS funds are also actively participating in Hong Kong IPO subscriptions. Among the currently listed shares, $SANHUA(02050)$ has the highest liquidity in the A+H market, and $TRANSTHERA-B(02617)$ is prone to speculative trading.

Mid-year listing committee review: Most of the companies that have passed the review aim to go public before June 30. Therefore, there may be more speculative stocks.

• Otherwise, they will need to update their semi-annual reports and resubmit their applications.

• Considering the June 30 Hong Kong Stock Connect review, the current market value threshold is 7.3 billion.

Companies from the Guangdong-Hong Kong-Macao Greater Bay Area that are listed on the Hong Kong Stock Exchange will be allowed to list on the Shenzhen Stock Exchange. This includes companies such as $TENCENT(00700)$ , $XPeng Inc.(XPEV)$ $BYD Co., Ltd.(BYDDY)$

3.2 United States (US)

Two companies are planned to be listed this week: $Caris Life Sciences Inc(CAI)$ (a precision medical platform with AI sequencing, expected to raise approximately $424 million); $Slide Insurance Holdings Inc.(SLDE)$ (an insurance company, expected to raise up to $340 million).

A scientist in blue clothing walks past sequencing machines in a Caris Life Sciences tissue laboratory.

Slide Holdings Insurance, Inc.(SLDE): Peeking at the IPO Prospectus of Another Florida Based Insurer - IPO Boutique

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