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A stock market debut is the moment a company's shares begin trading publicly for the first time, with a price set during the initial public offering.
Innolight, a Shandong-based supplier of data centre equipment to American and Chinese tech groups, fell 10% on that first day in Hong Kong.
The company had been framed as a winner of the US-China technology rivalry, not a business caught between two hostile markets.
What Innolight makes and who buys it Data centres are the physical buildings that house computing power for artificial intelligence, cloud services, and internet infrastructure.
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