Changes in Hong Kong stocks | “The King of Popularity” Mecamander Robot (09615) fell by more than 5% to a record low in four days of listing, and a cumulative decline of more than 20%

The Zhitong Finance App learned that Mecamand Robot (09615) continued its decline today. At one point, it fell nearly 9% to a low of HK$75.4 during the intraday period, hitting a new low since its launch. As of press release, it decreased by 5.67% to HK$78.15, with a turnover of HK$56.1415 million.

According to the news, Mercamander Robotics was listed on the Hong Kong Stock Exchange on September 1. Since its listing, it has been falling continuously for four trading days, with a cumulative decline of about 23%. Notably, the stock's weakness after listing was in stark contrast to its fervor during the previous offering phase. As the “first stock in the hands” of Hong Kong stocks, the Mercamander public sale was oversubscribed by about 3835.36 times, attracting about 252,500 people to subscribe. After triggering the rebate mechanism, the share of public sales rose to 20%, setting a new subscription record for the 2026 Hong Kong Stock Robot IPO.

In terms of performance, Mercamand's revenue increased from 181 million yuan in 2023 to 389 million yuan in 2025, but the company is still in a state of loss. The cumulative net profit loss for 2023-2025 exceeds 1 billion yuan. SDIC Securities International warned that the company is in a period of business and operational expansion, continues to increase investment in R&D, and is at a net loss; customer concentration is high, and if demand from major partners declines or changes in partnerships, it will put pressure on business stability; and technology adaptation and market acceptance during global expansion will take time to verify.