First day of the IPO | Impression of Dahongpao (02695) was first listed in early trading and opened 9.44% lower. The company is deeply involved in the Wuyishan cultural tourism performance market

The Zhitong Finance App learned that Impression Dahongpao (02695) was first listed. The announcement showed that each share was priced at HK$3.6 million. A total of 36.1 million shares were issued, 1,000 shares per lot, with a net proceeds of about HK$104 million. As of press release, it decreased by 9.44% to HK$3.26, with a turnover of HK$88,111 million.

According to the prospectus, Impression Dahongpao is a state-owned cultural tourism service enterprise headquartered in Wuyi Mountain, Fujian Province. According to Frost & Sullivan's data, the company ranked 8th in the Chinese cultural tourism performance market in 2024 in terms of sales revenue generated by cultural tourism shows.

The company's performance and performance service division includes three main services: the iconic “Impression: Dahongpao” landscape live performance; the new performance “Moon Ying Wuyi” launched in May 2025; and providing customized performances for corporate customers. These companies usually commission the group to perform at their special corporate events (such as team building events and annual meetings). The company's main focus is the iconic performance - “Impression: Dahongpao” live landscape performance. According to Frost & Sullivan, this performance was the first large-scale outdoor landscape live performance in Fujian Province, and has always been the Group's main source of revenue throughout the record period.