HK shares Newly Listed Stocks Tracking Weekly Report: Lock-up expiry shock eases, AI concept rebounds; NASN TECH soars 64% on debut day, sentiment in newly listed stocks repairs - 20260807

NewTimeSpace · 2026/08/09 19:28 · By Jiayi Sun

This week, HK newly listed stocks saw more gainers than losers, with NASN TECH up 64% on its debut day and AI concept stocks such as MINIMAX-W and VGT up over 38%; JIANGXI BIO fell 37%. The seven stocks with lock-up expiries performed mildly, with declines such as MUYUAN and EASTROC all within 11%, and the lock-up expiry impact was clearly weaker than last week. QIYUNSHAN FOOD rose 1,147% cumulatively to overtake DEEPZERO at the top, while ZG GROUP-W returned to the biggest drop below its IPO price. Z.AI returned to the top of liquidity with average daily turnover of nearly HKD 7 billion. Next week, AB&B BIO-TECH-B and INNOGEN-B will unlock more than 260 million shares.

During this week (3-7 August), the newly listed stocks market saw more gainers than losers overall, with the impact of lock-up expiries clearly weakening versus the previous week. NASN TECH rose over 64% on its debut day, MINIMAX-W gained 41.54% for the week, and sentiment in the AI and technology sectors warmed up. Of the seven stocks with lock-up expiries this week, six recorded weekly changes within±16%, while MUYUAN and EASTROC edged down in their first week after expiry. QIYUNSHAN FOOD overtook DEEPZERO to rank first in cumulative gains, and ZG GROUP-W returned to the top in the extent of trading below its IPO price. Next week, AB&B BIO-TECH-B and INNOGEN-B will face relatively large-scale lock-up expiries.

I. Weekly Changes: NASN TECH up over 60% in its debut week, AI concept stocks rebound

Metric	Stock Code	Stock Name	Listing Date	Weekly Change (%)
Weekly Gainer TOP1	2261.HK	NASN TECH	2026-08-07	64.11
Weekly Gainer TOP2	0100.HK	MINIMAX-W	2026-01-09	41.54
Weekly Gainer TOP3	2476.HK	VGT	2026-04-21	38.94
Weekly Gainer TOP4	1392.HK	HQVT	2026-06-22	34.72
Weekly Gainer TOP5	9630.HK	CFMEE	2026-06-26	33.38
Weekly Decliner BOTTOM5	1333.HK	BRETON	2025-05-07	-11.80
Weekly Decliner BOTTOM4	2508.HK	SAINT BELLA GP	2025-06-26	-13.25
Weekly Decliner BOTTOM3	6887.HK	SUNSHINE PHARMA	2025-08-07	-15.21
Weekly Decliner BOTTOM2	6603.HK	IFBH	2025-06-30	-16.15
Weekly Decliner BOTTOM1	6915.HK	JIANGXI BIO	2026-06-30	-37.02

The newly listed stocks with the largest weekly gains this week included NASN TECH, which listed on 7 August (+64.11%), MINIMAX-W (+41.54%), VGT (+38.94%), HQVT (+34.72%) and CFMEE (+33.38%). Among these stocks, MINIMAX-W, VGT and CFMEE are all related to AI computing power and semiconductors, and the sector performed actively overall this week. On the downside, JIANGXI BIO fell 37.02% this week, the largest decline among newly listed stocks; IFBH fell 16.15%, SUNSHINE PHARMA fell 15.21%, SAINT BELLA GP fell 13.25% and BRETON fell 11.80%. The absolute values of the declines among the top five decliners narrowed markedly versus last week, with no stock falling more than 50%.

II. Review of Lock-up Expiries This Week: Seven stocks unlocked, with mild share price performance

No.	Stock Code	Stock Name	Listing Date	Lock-up Expiry Date	Unlock Quantity (10,000 shares)	Share Price Performance in Expiry Week (%)
1	6809.HK	MONTAGE TECH	2026-02-09	2026-08-09	3,282.80	0.07
2	2589.HK	AUNTEA JENNY	2025-05-08	2026-08-08	1,112.20	13.55
3	3200.HK	HANS CNC	2026-02-06	2026-08-06	2,521.84	16.22
4	2714.HK	MUYUAN	2026-02-06	2026-08-06	13,697.28	-3.26
5	2677.HK	DISTINCT HEALTH	2026-02-06	2026-08-06	3,396.13	-10.85
6	2768.HK	GON TECHNOLOGY	2026-02-04	2026-08-04	886.92	15.37
7	9980.HK	EASTROC	2026-02-03	2026-08-03	2,012.01	-4.88

A total of seven newly listed stocks had lock-up expiries this week, with share prices performing mildly overall after the unlock. HANS CNC unlocked 25,218,400 shares on 6 August and rose 16.22% that week; GON TECHNOLOGY unlocked 8,869,200 shares on 4 August and rose 15.37%; AUNTEA JENNY unlocked 11,122,000 shares on 8 August and rose 13.55%. MUYUAN unlocked 136,972,800 shares on 6 August and edged down 3.26% that week; EASTROC unlocked 20,120,100 shares on 3 August and fell 4.88%; DISTINCT HEALTH unlocked 33,961,300 shares on 6 August and fell 10.85%. MONTAGE TECH unlocked 32,828,000 shares on 9 August, the last trading day of the week, with the stock basically closing flat that week (+0.07%).

III. Lock-up Expiry Preview for Next Week: AB&B BIO-TECH-B and INNOGEN-B rank among the largest

No.	Stock Code	Stock Name	Listing Date	Lock-up Expiry Date	Unlock Quantity (10,000 shares)
1	0600.HK	AXERA	2026-02-10	2026-08-10	5,115.63
2	2627.HK	AB&B BIO-TECH-B	2025-08-11	2026-08-11	26,291.92
3	0470.HK	WUXI LEAD	2026-02-11	2026-08-11	4,680.66
4	9981.HK	WOER	2026-02-13	2026-08-13	4,822.88
5	2706.HK	HAIZHI TECH GP	2026-02-13	2026-08-13	172.88
6	2591.HK	INNOGEN-B	2025-08-15	2026-08-15	38,372.90

Six newly listed stocks will have lock-up expiries next week. INNOGEN-B will unlock 383,729,000 shares on 15 August and AB&B BIO-TECH-B will unlock 262,919,200 shares on 11 August, the two stocks with the largest unlock volumes next week. AXERA will unlock 51,156,300 shares on 10 August, WOER will unlock 48,228,800 shares on 13 August, and WUXI LEAD will unlock 46,806,600 shares on 11 August. HAIZHI TECH GP will unlock 1,728,800 shares on 13 August, a relatively small quantity. Among the stocks with lock-up expiries next week, both INNOGEN-B and AB&B BIO-TECH-B will unlock more than 250 million shares, with volumes similar to or larger than that of MUYUAN this week.

IV. Liquidity Observations: Z.AI returns to the top, average daily turnover of the top five all above HKD 2 billion

Metric	Stock Code	Stock Name	Listing Date	Average Daily Turnover (HKD 10,000)	Average Daily Turnover Rate (%)
Liquidity TOP1	2513.HK	Z.AI	2026-01-08	698,387.4452	2.6988
Liquidity TOP2	0100.HK	MINIMAX-W	2026-01-09	507,183.2004	6.3470
Liquidity TOP3	3308.HK	ZJ INNOLIGHT	2026-07-30	348,783.5272	5.7289
Liquidity TOP4	3986.HK	GIGADEVICE	2026-01-13	311,367.7766	19.4847
Liquidity TOP5	2476.HK	VGT	2026-04-21	203,214.1941	8.2684
Liquidity BOTTOM5	1641.HK	HX COLDCHAIN	2026-01-13	2.0816	0.0191
Liquidity BOTTOM4	9639.HK	WING LEE DEV	2024-10-09	1.8267	0.0020
Liquidity BOTTOM3	2560.HK	CONCH MAT TECH	2025-01-09	1.7732	0.0067
Liquidity BOTTOM2	8629.HK	SYNTRUST GK	2024-09-06	1.4371	0.0172
Liquidity BOTTOM1	2519.HK	AUGROUP	2024-11-08	1.0600	0.0007

The threshold for the top five in liquidity among newly listed stocks rose markedly this week. Z.AI recorded average daily turnover of HKD 6.984 billion, returning to the top of liquidity among newly listed stocks, with an average daily turnover rate of 2.70%. MINIMAX-W's average daily turnover of HKD 5.072 billion moved it up to second place, with a turnover rate of 6.35%. ZJ INNOLIGHT, listed last week, posted average daily turnover of HKD 3.488 billion, down notably from nearly HKD 10 billion over its first two trading days, dropping to third place. GIGADEVICE recorded average daily turnover of HKD 3.114 billion with a turnover rate of 19.48%. VGT's average daily turnover of HKD 2.032 billion brought it into the top five. The top five in liquidity this week all recorded average daily turnover above HKD 20 billion. Among the less liquid stocks, AUGROUP posted average daily turnover of HKD 10,600, SYNTRUST GK HKD 14,371, CONCH MAT TECH HKD 17,732, WING LEE DEV HKD 18,267 and HX COLDCHAIN HKD 20,816.

V. Deviation from IPO Price: QIYUNSHAN FOOD leads with a cumulative gain of 1,146%, ZG GROUP-W returns to the biggest below-IPO drop

Metric	Stock Code	Stock Name	Listing Date	IPO Price (HKD)	Closing Price (HKD)	Deviation (%)
Over-IPO TOP1	2797.HK	QIYUNSHAN FOOD	2026-07-09	8.0000	99.7500	1146.88
Over-IPO TOP2	2723.HK	DEEPZERO	2026-05-27	55.5000	666.5000	1100.90
Over-IPO TOP3	2513.HK	Z.AI	2026-01-08	116.2000	1,246.0000	972.29
Over-IPO TOP4	0805.HK	NEW GONOW RV	2025-01-13	1.2700	8.8400	596.06
Over-IPO TOP5	3858.HK	JIAXIN INTL RES	2025-08-28	10.9200	63.7500	483.79
Below-IPO BOTTOM5	2592.HK	CLOUDBREAK-B	2025-07-03	10.1000	1.2100	-88.02
Below-IPO BOTTOM4	2396.HK	B&K CORP-B	2025-12-22	38.2000	3.8500	-89.92
Below-IPO BOTTOM3	2525.HK	HESAI-W	2025-09-16	212.8000	18.0500	-91.52
Below-IPO BOTTOM2	3881.HK	CIDI	2025-12-19	263.0000	20.9200	-92.05
Below-IPO BOTTOM1	6676.HK	ZG GROUP-W	2025-03-10	10.0000	0.7550	-92.45

Compared with their IPO prices, QIYUNSHAN FOOD closed at HKD 99.75, a deviation of 1,146.88% from its IPO price of HKD 8.00, overtaking DEEPZERO to rank first in deviation among newly listed stocks. DEEPZERO closed at HKD 666.50, a deviation of 1,100.90%, ranking second, a gap of approximately 46 percentage points from QIYUNSHAN FOOD. Z.AI closed at HKD 1,246.00, a deviation of 972.29%, ranking third. NEW GONOW RV recorded a deviation of 596.06% and JIAXIN INTL RES 483.79%. In terms of trading below the IPO price, ZG GROUP-W closed at HKD 0.755, a deviation of -92.45%, once again becoming the newly listed stock with the largest drop below its IPO price. CIDI recorded a deviation of -92.05%, HESAI-W -91.52%, and B&K CORP-B and CLOUDBREAK-B deviations of between -88% and -90%.

Matters to Watch Next Week

1. On 11 August, AB&B BIO-TECH-B will unlock 263 million shares, and on 15 August INNOGEN-B will unlock 384 million shares; both are pre-revenue biotech companies and rank among the largest lock-up expiries next week.

2. MUYUAN, whose lock-up expired this week (137 million shares), fell only 3.26%; the lock-up expiry impact this week was overall weaker than in previous weeks, and with larger unlock volumes next week, market absorption can be observed by comparison.

3. NASN TECH rose over 64% on its debut day on 7 August, and ZJ INNOLIGHT's average daily turnover in its second week of listing fell from nearly HKD 9.8 billion to around HKD 3.5 billion.

Note: This report defines "newly listed stocks" as HK-listed targets listed for less than 24 months.

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Tags：

Newly Listed Stocks NASN TECH MINIMAX-W AB&B BIO-TECH-B INNOGEN-B