$LEAPMOTOR(09863.HK) saw a slight rise, $BYD COMPANY(01211.HK) remained basically unchanged, and $NASN TECH(02261.HK), which just listed on the Hong Kong stock exchange, opened at 16.9 and closed at 17.1 on its first day, holding above the issue price.
The overall vehicle sector has not seen significant fluctuations for a long time; instead, new targets are emerging from secondary suppliers like wire-controlled chassis. A new stock closing in the red on its first day—does this indicate that the midstream of the industry chain is being revalued, or is it simply driven by IPO subscription sentiment?
I suspect the latter plays a larger role. The sideways movement of $LEAPMOTOR(09863.HK) and $BYD COMPANY(01211.HK) indicates no new changes in terminal demand, giving the midstream no reason to break out independently.
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