[ET Net News Agency, 2 December 2025] JINYAN KAOLIN (02693) will be listed tomorrow
(3rd). It is closed at HK$10.05 on Phillip's grey market, 37.7% higher than the grey
market's IPO price of HK$7.3. Based on 500 shares per lot, excluding handling fees, the
book value gain per lot is HK$1,375. It is currently at HK$9.96 on Bright Smart's grey
market, 36.4% higher than the grey market's IPO price. The book value gain per lot is
HK$1,330.