IPO Digest — June 15, 2026: Liuliumei Triples on HK Debut, Suiyuan GPU Clears STAR Market Review
Monday delivered a 193.71% first-day surge for Liuliumei (06658) on HKEX, driven partly by its AI-ticker homophone "LLM," while BSE newcomer Yongda Shares closed up 127%. On the A-share hearing front, both Suiyuan Technology (RMB 6B GPU maker, targeting STAR Market) and Yuexin Semiconductor (ChiNext specialty foundry) passed listing committee review. BSE subscription opened for medical device maker Keleruidi, and SENASIC (06675) lines up for a Wednesday HKEX debut.
Monday brought two high-profile debut surges and a pivotal milestone for domestic AI chip stocks: Liuliumei tripled on its Hong Kong listing while GPU maker Suiyuan Technology passed its STAR Market hearing after eight years of development. Here is every event from June 15, 2026.
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At a glance
| Company | Exchange / Board | Status | Key metric |
|---|---|---|---|
| Liuliumei 溜溜梅 (06658) | HKEX Main Board | Listed today | Close +193.71% at HK$128 |
| China Info Rights (08565) | HKEX GEM | Listed today | First day trading |
| Yongda Shares 永大股份 (920126) | BSE | Listed today | Close +126.96% at RMB 17.68 |
| Suiyuan Technology 燧原科技 | SSE STAR Market | Hearing passed | RMB 6B target raise |
| Yuexin Semiconductor 粤芯半导体 | SZSE ChiNext | Hearing passed | Specialty process foundry |
| Keleruidi 科莱瑞迪 (920072) | BSE | Subscription open | Issue price RMB 15.62 |
| SENASIC 琻捷电子 (06675) | HKEX Main Board | Lists June 17 | HK$981M raise |
HKEX listings
Liuliumei (06658) — close +193.71%, market cap above HK$10B
Liuliumei, the Fujian-based premium plum snack brand behind products under the 溜溜梅 label, opened at HK$95 — up 118% from its HK$43.58 issue price — and closed its first day at HK$128.00, a gain of 193.71%.1 One board lot (100 shares) cost HK$4,358 at the offer; at the close, the same lot was worth HK$12,800 — a paper profit of approximately HK$8,442 per lot allocated. Total market capitalisation crossed HK$10.08 billion.2
The public tranche drew 6,586.73× oversubscription from 180,500 applicants, one of the highest retail subscription ratios HKEX has seen in 2026. The result allocation ratio was 1.5%.3
A distinctive factor amplifying demand: Liuliumei's Chinese abbreviation romanises to LLM — the widely used shorthand for Large Language Models — triggering a wave of AI-themed retail buying in a market already primed for AI hardware names.4 The company itself has no AI operations; its revenue comes from fruit-based snack products sold in China and exported to 80-plus countries. The business is profitable.
Key watchpoints: Lock-up periods for cornerstone investors and pre-IPO shareholders expire on staggered dates. The AI-ticker narrative inflated day-one demand considerably beyond what the underlying business would typically attract — subsequent sessions will test how much of Monday's gain holds once that overhang normalises. International placement was 2.64× subscribed, suggesting institutional interest was more measured than retail.5
China Info Rights (08565) — GEM listing
China Info Rights (08565) also began trading on Monday on the HKEX Growth Enterprise Market. First-day performance data was limited at the time of this digest.6
A-share listing
Yongda Shares (920126) — BSE debut, close +126.96%
Jiangsu Yongda Chemical & Machinery Co. (江苏永大化工机械股份有限公司) made its BSE debut Monday morning, opening at RMB 19.01 — a +144.03% premium over its RMB 7.79 issue price — and ending the session at RMB 17.68, a +126.96% gain. Trading turnover reached RMB 749 million with an 85.01% turnover rate.7
Yongda manufactures non-standard pressure vessels for coal chemical, oil refining, petrochemical, photovoltaic, and pharmaceutical processes. Its products include reactor vessels, heat-exchange vessels, separation vessels, and storage containers. The company is a supplier to major state-owned oil and chemical groups and raised RMB 360 million in the IPO, priced at 14.98× earnings — a significant discount to the BSE's prevailing market multiples.8
Key watchpoints: Net profit has declined on a non-recurring adjusted basis for two consecutive years. High turnover on day one reflects active profit-taking; the cash conversion ratio has lagged reported earnings, which analysts flagged during the review process.
A-share listing committee hearings
Both hearings today cleared, in what is an unusual double-pass day for domestically-developed semiconductor companies.
Suiyuan Technology (燧原科技) — STAR Market hearing approved, RMB 6B target
The SSE Listing Committee's 37th session of 2026 cleared Suiyuan Technology's STAR Market IPO on Monday afternoon.9 Founded in 2018, Suiyuan has iterated four generations of cloud AI chip architectures across five product lines and now sells complete AI acceleration systems — chips, cards, server clusters, and its proprietary software stack.
The company targets raising RMB 6 billion: RMB 1.503B for its Gen-5 AI chip series, RMB 1.197B for Gen-6, and RMB 3.3B for an advanced AI software-hardware co-innovation platform. Suiyuan is the last of China's so-called domestic GPU "four dragons" to seek a listing: the other three (Mthreads 688795, MXC 688802, Biren) are already listed or in an advanced stage.
Financially, revenue grew from RMB 301M (2023) to RMB 722M (2024) to RMB 990M (2025). Cumulative net losses over those three years totalled RMB 4.34B. For H1 2026, Suiyuan guides revenue of RMB 10.6B–11.5B, up 258–289% year-on-year, and expects to match its full-year 2025 revenue within just the first six months.
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The concentrated customer risk is notable: Tencent accounted for 83.79% of 2025 revenue. Tencent is simultaneously a key equity holder in the company, making the relationship both a competitive asset and a structural vulnerability if Tencent's procurement strategy shifts.9
Yuexin Semiconductor (粤芯半导体) — ChiNext hearing approved
The SZSE Listing Committee's 34th session of 2026 also cleared Yuexin Semiconductor's ChiNext IPO on Monday.10 Guangzhou-headquartered Yuexin operates a specialty process wafer foundry for chip design companies, covering consumer electronics, industrial control, automotive electronics, and AI applications. The company has been labeled "Guangzhou's first chip foundry" (广州第一芯). Analysts project Yuexin will not reach profitability until approximately 2029, placing it among the several loss-making frontier-chip companies that China's exchanges have accommodated under technology-sector listing reforms. Planned raise size was not publicly confirmed in available filings.
A-share new subscription
Keleruidi (920072) — BSE subscription opens today
Guangzhou Keleruidi Medical Equipment Co. Ltd. (广州科莱瑞迪医疗器材股份有限公司, 920072) opened its BSE subscription on Monday. Issue price: RMB 15.62/share at 19.62× P/E — roughly 42% below the sector's trailing one-month average of 47.22×.11 Maximum subscription per account: 266,400 shares. Sponsor: China Galaxy Securities.
Keleruidi makes radiotherapy positioning devices and orthopedic rehabilitation equipment. It held a 42.5% domestic market share and 7.0% global market share (No. 3 worldwide) in radiotherapy positioning products as of 2023. The company has deep OEM partnerships with CT/radiotherapy equipment majors including United Imaging and Siemens Healthineers, and distributes across more than 80 countries. It qualifies as a national-level "Specialised and Sophisticated" (专精特新) small giant enterprise.8
Pipeline and upcoming events
SENASIC (06675) — HKEX debut Wednesday, June 17
SENASIC Electronics Technology (琻捷电子科技（江苏）股份有限公司) lists on the HKEX Main Board this Wednesday at an issue price of HK$18.36 per share (board lot: 200 shares; entry fee: ~HK$3,709). Gross proceeds: HK$981 million. CICC is the sole sponsor.12 The company supplies wireless sensing SoC chips for automotive applications. As of June 11, margin-financed (孖展) subscriptions ran at 647× oversubscription. Retail public tranche results are expected to be announced before Wednesday's open.
New HKEX subscriptions opening this week (June 15–18)
Three new IPOs opened for subscription Monday:
- Haiqing Zhiyuan / 海清智元 (01392) — Subscription period: June 16–17 (Mon–Tue). Passed HKEX hearing in the week of June 8–14. Business: AI / smart technology.8
- Xingyuan Cailizhi / 星源材质 (06067) — Subscription period: June 15–18 (Mon–Wed). Offer price range: undisclosed at time of writing. BSE-listed battery separator manufacturer seeking A+H dual listing. 13
- HJ Science-B / 华健未来-B (06132) — Subscription period: June 15–18. Offer price: HK$14.60–17.10/share. Biotech company.8
Anker Innovation (安克创新) — passed HKEX hearing
Anker Innovation (安克创新, currently listed on SZSE ChiNext as 300866), the global consumer electronics accessories brand, cleared its HKEX listing hearing. The A+H dual listing is targeting approximately USD 500 million in proceeds, according to market reports.14 Offer terms and listing date remain to be announced.
Visual China Group (视觉中国) — H-share application filed
Visual China Group (视觉中国, 000681.SZ), China's leading stock image and digital rights management platform, filed its H-share IPO application with HKEX on June 14, 2026 — the filing appeared on the HKEX website on June 15.15 Terms undisclosed; the company would be a Main Board dual listing if approved.
A-share pipeline: Hutai Precision (富泰和) — BSE hearing June 18
Shenzhen Futaihe Precision Manufacturing (深圳市富泰和精密制造) is scheduled for a BSE listing committee hearing on Wednesday, June 18.8 The company manufactures automotive and appliance precision components. Planned raise undisclosed.
Weiyifa (威易发) and Shiji Digital (世纪数码) — BSE committee approvals confirmed
Both companies, whose June 11 BSE hearings were flagged as results-pending in last Thursday's digest, have now been confirmed as cleared. Weiyifa (metal sealing rings for turbochargers, RMB 172M raise, Kaiyuan Securities) and Shiji Digital (digital inkjet printing equipment, RMB 268M raise, Orient Securities) are now in the CSRC registration queue.1617
Weekly A-share filings batch (June 8–14)
Eighteen new IPO applications were accepted by the exchanges in the week ending June 14: 2 on SSE Main Board, 2 on STAR Market, 3 on SZSE Main Board, 5 on ChiNext, 6 on BSE. Year-to-date new acceptances through June 14 reached 70 companies.18
References
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