Sept 18 afternoon — Shengu Group surged as much as 297% intraday, hitting a high
of CNY82.59 per share. Turnover exceeded 80% and trading value approached
CNY4.0bn. The stock was halted twice during the session. Analysts say the
post-listing rally reflects an ultra-low issue price, an extremely small free
float, a scarcity-themed bid and a rotation in market fund flows.
