The Zhitong Finance App learned that Denglin Technology-P (09917) saw a low of HK$197.0 in the afternoon, a new low since launch. As of press release, it decreased by 4.78% to HK$197.3, with a turnover of HK$383.41 million.

According to news, since Denglin Technology was listed on the Hong Kong Stock Exchange on November 10, its stock price fell more than 7% on the same day. Since then, it has been falling for three consecutive days. Today's stock price hit a low of HK$197, down nearly 15% from the issue price. According to reports, Denglin Technology is a general purpose graphics processor (GPGPU) provider that develops and sells GPGPU products. Previously, the public sale only received 2.11 times the subscription, and the national subscription was 1.34 times.

From 2023 to 2025, the company's revenue increased from 27.93 million yuan to 171.3 million yuan, with a loss of about 910 million yuan over three years; revenue for the first four months of this year was 200.4 million yuan, and adjusted net profit recorded 20.6 million yuan, turning a loss into a profit. Notably, the company's revenue is highly concentrated in the top five customers. In the first four months of 2023, 2024, 2025 and 2026, the five major customers accounted for 98.4%, 85.1%, 83.0% and 90.4% of revenue, respectively.

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