China Resources New Energy shares nearly tripled on their stock market debut in Shenzhen on Thursday after the wind and solar energy company raised 24.5 billion yuan ($3.61 billion) in Asia's largest initial public offering (IPO) of 2026 so far.
The stock opened at 21.60 yuan, more than double its IPO price of 10.11 yuan. During early trade, it soared as much as 198%, triggering a temporary trading halt.
The strong listing performance came despite weakness in the broader Chinese market and is being viewed as a key test of efforts to attract large domestic listings and encourage households to channel more savings into equities following a slowdown in IPO activity.
China's blue-chip CSI300 index was trading nearly 2% lower in early morning trade.
According to LSEG data, companies listing on the Shanghai, Shenzhen and Beijing stock exchanges raised $7.7 billion through A-share IPOs during the first half of the year, representing a 64.4% increase from the corresponding period last year. Including offshore listings, total funds raised by Chinese companies through IPOs almost doubled to $16.2 billion.
