Hong Kong Stock Market News | WELLCELL HOLD surges over 36% on its second day of listing, up over 260% from its IPO price. Significant growth in ICT integrated services.

On the second day of its listing, WELLCELL HOLD surged more than 36%, reaching a high of HKD 3.65, an increase of over 260% compared to the IPO price of HKD 1. As of the time of writing, it has risen by 27.65% to HKD 3.37, with a trading volume of HKD 14.1658 million. It is reported that WELLCELL HOLD is a provider of telecommunications network support, information and communication technology (ICT) integration services, and software development for China Telecom. When the group started its business in 2003, it mainly developed telecommunications network performance analysis software. Later, it expanded its business scope to provide telecommunications network support services and ICT integration services. According to the prospectus, the company's revenue for the fiscal years 2020, 2021, 2022, and the first half of 2023 are expected to be approximately RMB 196 million, RMB 203 million, RMB 227 million, and RMB 114 million, respectively. During this period, the revenue from ICT integration services accounted for 19.7%, 20.9%, 24.1%, and 31.2% of WELLCELL HOLD's total operating income. The ICT integration services have shown significant growth in the past, mainly due to the overall increase in the number of major projects.