The dark market rose by 194.52%! Shougang Langze (02553) will be listed starting tomorrow, becoming the world's first ESG stock, opening up valuation space for imagination.

On June 2nd, Futu closed the dark pool, and the popular new stock of the year, Shougang Langze (02553), exceeded expectations with its debut performance. Prior to this, there was a clear difference in market views, with some worrying about concentrated selling pressure from the successful allottees, while others were optimistic about its AI synthetic biology, exclusive CCUS qualifications, and the trillion-dollar SAF market potential. Amidst the tug of war between bulls and bears, the stock was aggressively sought after in the dark pool trading, reaching a high of 43 Hong Kong dollars during the session, a surge of 194.52% from the issue price of 14.6 Hong Kong dollars, and eventually closing at 36 Hong Kong dollars, up 146.58%, with a turnover of 194 million Hong Kong dollars. Shougang Langze will officially list on the Hong Kong Stock Exchange on June 3rd. During the dark pool trading, the increase once approached 200%, with the buy-side pressure reaching as high as 97.14% at the close, and the selling pressure almost completely released. In terms of fund structure, the oversubscribed public offering of over 1,400 times has attracted a large amount of sidelined funds, and the strength in the dark pool further catalyzed entry sentiment, with ample potential buying reserve. After sufficient turnover in the dark pool stage, most of the short-term arbitrage positions have exited, optimizing the holding structure significantly. Fundamentally, the company spans multiple fields such as ESG, synthetic biology, CCUS, AI manufacturing, and SAF, with a solid base of value. Shougang Langze focuses on the recycling of industrial flue gas resources, transforming the waste flue gas from industries such as steel and iron alloys into ethanol, microbial proteins, and other products through biological fermentation. It is the world's first enterprise to achieve commercial-scale implementation of this technology route and has completed the iteration from first-generation decarbonization to second-generation negative carbon. The company also has a forward-looking position in the SAF field, planning to implement the first domestic 50,000-ton demonstration project by 2027. Leveraging the background of Shougang Group's state-owned assets and the country's first industrial emissions synthetic feed protein qualification, it has a clear advantage in cost curve and competitive barriers. Overall, the strong closing of the dark pool has laid the foundation for tomorrow's market, with a high probability of short-term strengthening in the trading range. In the medium to long term, the company focuses on the two main themes of global decarbonization and food security, with valuation recovery and growth logic having sustainable support.