On June 9, Lung Fung Group rose 8.64% in regular trading, trading at HKD 2.78/share, with trading volume of HKD 8.13 million. The stock experienced a technical rebound after two consecutive sessions of heavy selling following its IPO debut on June 5.

Lung Fung Group listed at a final offer price of HKD 5.18 per share but immediately broke issue price on its first trading day, closing down 45.75% at HKD 2.81. On its second trading day, the stock continued to slide, hitting an intraday low of HKD 2.45, representing a decline of more than 50% from its IPO price. The severe short-term oversold condition prompted a corrective bounce.

On the news front, on June 8 the company's controlling shareholder deposited 375 million shares (representing 75% of total shares) into DBS Bank Hong Kong, with the deposited position valued at approximately HKD 1.054 billion. The major shareholder's lock-up action provided some support to market sentiment.

Lung Fung Group is a Hong Kong-based leading chain retailer of beauty, health, and pharmaceutical products. It currently operates 31 retail stores under the Lung Fung brand, offering over 49,000 SKUs sourced from more than 600 suppliers, serving both local consumers and tourists.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)