Gaokai Technology, a recent STAR Market listing, surged on Sept. 14 and touched its daily upper limit at around 9:58 a.m. The stock then stayed pinned at CNY 324.41 for the rest of the session, ending the day with a full 20% gain and setting a record high since its listing.
The stock opened at CNY 274.00, up 1.35% from the previous close. Buying picked up quickly after the open, and the price moved higher through morning trading before locking at the limit-up level.
By the close, Gaokai Technology stood at CNY 324.41, up 20.00% for the day, with a market capitalization of CNY 32.425 billion. Its intraday amplitude reached 18.65%.
Turnover rose with the rally
Trading activity was also strong during the session. According to exchange market data, the stock recorded about CNY 1.128 billion in turnover, volume of roughly 36,700 lots, and a turnover rate of about 19.56%.
Post-listing performance has drawn market attention
The stock has been closely watched since it went public.
Gaokai Technology officially listed on the Shanghai Stock Exchange STAR Market on Aug. 25, 2026. Its IPO price was CNY 61.36 per share, making it the fifth-highest-priced STAR Market IPO of 2026.
On its first trading day, the stock opened at CNY 209.00, up 240.61% from the offer price. It rose as high as CNY 262 intraday and closed at CNY 235.00, posting a first-day gain of 282.99%. First-day turnover reached 80.98%.
Based on the IPO price, an investor allotted one lot of 500 shares would have seen a paper gain of more than CNY 70,000 on the first day. Using the Sept. 14 limit-up price of CNY 324.41, the stock is up about 4.29 times from the IPO price, and the paper gain for one lot expands to about CNY 131,500.
From its Aug. 25 debut to the new high on Sept. 14, Gaokai Technology took about 14 trading days.
Company focuses on precision fluid control
Company information shows that Gaokai Technology’s full name is Jiangsu Gaokai Precision Fluid Technology Co., Ltd. The company is registered in Wujin District, Changzhou, Jiangsu Province. It was established in March 2013 and listed on the STAR Market in August 2026. It is described as a national-level specialized and sophisticated “Little Giant” enterprise and one of the domestic leaders in precision fluid control.
The company has long focused on the research, development, production, and sale of key control components and related equipment in precision fluid control. Its core underlying technologies are piezoelectric drive and precision fluid control. After more than a decade of technology accumulation, it has built three main product lines: flow control, dispensing and packaging, and precision coating. Its business has also expanded into more categories, including components for semiconductor vacuum systems.
Its products include mass flow controllers, flow meters, water vapor controllers, piezoelectric valves, dispensing machines, and potting machines. End markets span semiconductors, consumer electronics, automotive electronics, and new energy manufacturing.
Within those businesses, the flow control segment carries relatively high technical barriers. Some products have entered the supply chain for advanced semiconductor equipment and can be used in front-end process equipment for logic chips at 7 nm and below. The dispensing and packaging line serves precision manufacturing in consumer electronics such as acoustic and optical applications. The precision coating line mainly targets new energy scenarios including power batteries and photovoltaics.
Recent financial results showed fast growth
Data disclosed in the company’s prospectus and listing announcement show that revenue reached CNY 226 million in 2023, CNY 423 million in 2024, and CNY 511 million in 2025. Net profit attributable to shareholders came in at CNY 26.49 million, CNY 99.76 million, and CNY 133 million for those three years. Net profit attributable to shareholders after non-recurring items was CNY 12.7 million, CNY 95.17 million, and CNY 127 million.
The growth trend continued into 2026. In the first half of 2026, the company posted revenue of CNY 327 million, up 35.46% year on year, and net profit attributable to shareholders of CNY 106 million, up 95.07%. Gross margin during the reporting period was about 57.69%.
Valuation remained elevated
Gaokai Technology’s 20% limit-up move pushed the stock to another post-listing high. According to the source material, that performance reflected current market attention on semiconductor equipment components and domestic substitution themes, and also showed how capital has been pricing growth in recent IPO names.
As of the Sept. 14 close, the company’s trailing twelve-month price-to-earnings ratio was about 175.79 times, and its price-to-book ratio was about 28.72 times. The source also noted that the company has been listed for only a short time and its freely tradable float remains relatively limited, leaving room for sharp price swings.