Auto retailer XXF ( $XXF 02473.HK$ ) made its official debut on the Hong Kong Stock Exchange today, and as of the time of writing, the stock price surged 187.27%. With its market capitalization exceeding HK$1.6 billion and current trading volume reaching over HK$38 million. The stock closed at a 92.73% gain during grey market trading yesterday.

According to the announcement, XXF issued shares at HKD 1.1 per share, resulting in a paper profit of over HK$ 5,150 for those who successfully subscribed for one lot.

Company Profile:

XXF Group Holdings Limited $XXF 02473.HK$ is a well-known automotive retailer in China, specializing in automotive financing and leasing services. The company operates through self-owned sales outlets and offers a wide range of services including automotive retail and financing, as well as other automotive-related services. In the Chinese market, the company ranks as one of the top offline third-party retail automotive financing and leasing companies. With a market share of approximately 4.1% in direct financing and leasing transactions, and 0.7% in overall retail automotive financing and leasing transactions, XXF Group Holdings Limited serves customers primarily in second-tier, third-tier, and lower-tier cities in China. The company has a vast sales network comprising 77 outlets across 25 provinces and direct-controlled municipalities in China.

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