How did RoboTechnik Intelligent Technology and the three other companies debuting in Hong Kong on September 29, 2026—Shenzhen Kinwong Electronic, Red Avenue New Materials Group and Direct Drive Tech—perform against their IPO prices, how much did each raise, and what do their mixe

The four September 29 debuts split evenly: RoboTechnik and Red Avenue finished below their IPO prices, while Kinwong and Direct Drive rose. That suggests Hong Kong’s revived IPO market could still attract substantial fundraising, but investors were selective about what they would pay—particularly for companies associated with the AI boom—amid broader market weakness. 13

• RoboTechnik Intelligent Technology: Raised HK$5.18 billion ($660.4 million). Its shares fell as much as 9.8% below the HK$436 offer price and ended nearly 5% lower. 1
• Shenzhen Kinwong Electronic: Raised about HK$5.1 billion ($650 million); its shares finished 10.3% above the offer price. 112
• Red Avenue New Materials Group: Sought about HK$3 billion ($382 million); its shares finished 9.1% below the offer price. The available evidence does not establish its final amount raised as distinctly from that offering target. 112
• Direct Drive Tech: Its shares finished 7.4% above the offer price. Insufficient evidence in the available results establishes its final amount raised. 1

RoboTechnik makes automation equipment for photovoltaic-cell manufacturing and assembly, as well as testing systems for silicon-photonics devices. Its cornerstone investors included Singapore’s Temasek; the available evidence does not establish a reliable complete list. 712 Its stated uses for net proceeds include expanding capacity and delivery capability (40%) and product and technology research and development (20%). 13

For the first half of 2026, a source reports net profit of RMB6.56 million, but the available evidence does not reliably establish the corresponding revenue or year-earlier figures. Insufficient evidence to give a sound year-on-year comparison for either measure. 12