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Seeing that Robotaxi suddenly "exploded" in its own area, Ruqi Travel, a local travel platform, was somewhat embarrassed to be the guest. One month after its official listing on the Hong Kong stock market, the stock price fell below the issue price at the beginning and then plunged, which made people doubt that this "first Robotaxi stock" in China did not give investors enough confidence in the capital market. Ruqi Travel also faces many challenges in terms of whether its main business can be sustainable and whether it can bring a new profit growth curve.

Market value shrunk by more than 20% in one month after listing

On August 9, Ruqi Travel's Hong Kong stock closed at 25.95 yuan, with a market value of 5.297 billion yuan, a decrease of 23.44% from the market value of 6.919 billion Hong Kong dollars at the close of the first day of listing. This was exactly one month after Ruqi Travel's listing. Compared with the company's final offering price of 35 Hong Kong dollars per share when it went public, the stock price fell by 25.86%.

On July 10, Ruqi Travel (09680.HK) finally landed on the Hong Kong Stock Exchange as expected and was officially listed. However, the stock price fell below the issue price on the first day of listing, and fell by more than 10% on the same day. The next day, the company's stock price rose 4.72% in the shock, closing at HK$35.5 per share, thus avoiding the embarrassment of continuous price drops. As of the close of Hong Kong stocks on the third day of listing, Ruqi Travel's stock price was HK$34.2, still not higher than the issue price.