
Suzhou Denglin Technology falls 8.6% after raising HK$1.4 billion; combined IPO proceeds reach HK$2.2 billion
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Two mainland Chinese chip suppliers made sharply divergent trading debuts in Hong Kong on Tuesday after raising a combined HK$2.2 billion (US$280 million), underscoring investors' selective appetite for semiconductor stocks despite a pickup in new listings.
Two mainland Chinese chip suppliers made sharply divergent trading debuts in Hong Kong on Tuesday after raising a combined HK$2.2 billion (US$280 million), underscoring investors' selective appetite for semiconductor stocks despite a pickup in new listings.
Suzhou Denglin Technology, the week's largest listing, fell by as much as 8.6 per cent in morning trade after raising HK$1.4 billion in its initial public offering (IPO).
The graphics processing unit maker priced its shares at HK$231 – the bottom of its marketed range. Its retail tranche drew 3,809 subscribers and was 1.11 times oversubscribed, while the international offering was 0.34 times oversubscribed.

In October this year, Beijing’s consumer price index remained unchanged month-on-month, rising 0.2% year-on-year, a 0.4 percentage point decrease from the previous month. Food prices fell by 5.6% year-on-year, with prices of fresh vegetables, fresh fruits and pork falling by 22.5%, 12.8% and 11% respectively. The ex-factory price of industrial producers decreased by 1.7% year-on-year, and the purchase price increased by 1.4% year-on-year.

A 73-year-old Japanese couple has a monthly pension of about 210,000 yen, a savings of 16 million yen, and a mortgage that has been paid off. However, they gave their divorced daughter 50,000 yen a month for living expenses for three years, accumulating expenditures of 1.8 million yen, plus house maintenance costs, and the savings dropped to about 12 million yen. They eventually agreed with their daughter to gradually reduce the assistance and stop the assistance.

Huida CEO Huang Renxun admitted to extramarital affairs and apologized. Huida's board of directors established an independent committee on November 8 to investigate whether he was the target of foreign intelligence operations. Culper Research, an American short-selling agency, released a 40-page report in May this year, questioning the relationship between Huang Renxun and Chinese Huang Le, and alleging that Megaspeed's funds may come from Alibaba, and Huida's lost Chinese market business may flow back to China through Southeast Asian pipelines. U.S. intelligence agencies believe Huang Le may have helped China obtain controlled chips and pass intelligence to Beijing, and Trump said the FBI was investigating.

Taiwan's machine tool exports are experiencing two situations: complete machines are sluggish, while parts and components are growing against the trend. In the first ten months of this year, exports of complete machines were US$1.659 billion, a slight decrease of 0.2%; exports of key components were US$1.423 billion, an annual increase of 14.5%, including an annual increase of 27.4% in October. Emerging manufacturing markets such as India and Vietnam and some European markets have become important directions for observation.

The stock price of wafer foundry UMC (2303) fluctuated violently on the 10th. It opened higher in early trading. It opened higher by 2.7 yuan and opened at 99.4 yuan. The intraday high reached 103.5 yuan and broke through the 100 yuan mark. Then selling pressure emerged and the stock price quickly pulled back. The lowest dropped to 98 yuan. Then it rebounded again and is currently oscillating around 99 yuan. Investors were disappointed that the stock price could not stabilize at the 100-yuan level, and market sentiment fluctuated accordingly. Whether UMC could regain the 100-yuan level has become the focus of investors' follow-up attention.

The Chinese government announced that the trade surplus in the first 10 months of this year reached US$1.04 trillion, surpassing last year's record pace. Exports surged 35.2%, driven by strong demand for green energy products and data center equipment. Iran's attacks on ships in the Strait of Hormuz pushed up international oil prices. The trade surplus also reflects a weakening domestic economy, with a collapse in the housing market causing households to cut back on consumption.