The Stelato S9 -- the first model jointly built by Huawei and BAIC BluePark -- has received more than 2,500 firm orders in the first 24 hours of its launch.

Shares in Shanghai-traded BAIC BluePark (SHA: 600733), the electric vehicle (EV) unit of Beijing Automotive Group (BAIC Group), fell sharply in early trading as orders for its Stelato S9, the first model jointly built by Huawei, appeared to disappoint investors.

Shares of BAIC BluePark fell 9.69 percent to RMB 8.2 at press time, hitting a one-month low. The drop is close to the 10 percent limit for a single day's decline.

The drop could be attributed to investors' disappointment with the order performance of the Stelato S9 -- the first model of Stelato, the new brand jointly created by Huawei and BAIC BluePark.

($1 = RMB 7.1762)