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TOPIC

IPO

IPO
Latest news and analysis on initial public offerings (IPOs), with a particular focus on companies raising funds on the Hong Kong Stock Exchange.
Visitors learn about products at the booth of Sigenergy Technology during the Solar and Storage Live Africa 2026 in Johannesburg, South Africa, on March 25, 2026. Photo: Xinhua
Energy storage

Sigenergy jumps 83% in Hong Kong debut on rising energy storage demand

The Shanghai-based firm’s shares opened at HK$581, versus its offer price of HK$324.20 after it raised US$560 million from its IPO.

Artificial intelligence

Lightelligence on track with IPO plans as China’s AI photonics race gathers pace

Banking & finance

Global funds fuel Hong Kong IPO rebound as investors rebalance China portfolios

Shanghai

Huaqin’s US$580 million Hong Kong share sale attracts JPMorgan and UBS

The Shanghai-listed firm is selling 58.55 million shares, pricing them at a 31.2 per cent discount to their last-traded mainland stock price.

China’s Huaqin is one of the world’s largest consumer electronics original design manufacturers. Photo: Handout
Artificial intelligence

Victory Giant joins IPO push by China’s circuit-board makers amid AI frenzy

Nvidia supplier aims to raise up to US$2.2 billion in Hong Kong as AI data centre demand makes boards ‘all the rage’.

Mainland China

What does China’s tightening grip on red-chip structures mean for IPOs?

China’s tougher stance on red-chip structures is reshaping the tech listing pipeline, adding uncertainty for companies targeting Hong Kong.

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Hong Kong stock market

Can Hong Kong’s listing reform 2.0 win over innovative firms?

The reforms enhance the city’s appeal for AI, biotech and other firms by slashing the market cap threshold and enabling confidential filings.

Illustration by Henry Wong
Banking & finance

Mainland China and Hong Kong IPOs drive Citic to the top of banking fee rankings

Citic leads Asia-Pacific in fees in the first quarter as IPOs in Hong Kong and mainland China offset weaker debt and M&A activity.

Robotics

Unitree to debut cheapest humanoid robot globally via Alibaba: sources

The international launch of the company’s cheapest humanoid robot next week is expected to cover North America, Europe, Japan and Singapore.

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Banking & finance

Yiwu market owner eyes Hong Kong IPO to support overseas expansion

Hong Kong listing plan comes after the company reported net profit of 4.2 billion yuan for 2025, up 36.8 per cent from a year earlier.

A shop owner holds a toy depicting US President Donald Trump at the Yiwu International Trade Market in Yiwu, Zhejiang province on April 10, 2025. Photo: AFP
Hangzhou

Hangzhou ‘Six Little Dragons’ member Manycore seeks US$130m from Hong Kong IPO

The spatial design software developer is selling 161 million shares priced between HK$6.72 and HK$7.62 each, with listing set for April 17.

Manycore’s flagship products include its spatial design platform Kujiale, also known as KuSpace, and its international offering Coohom. Photo: CFOTO/Future Publishing via Getty Images
Energy storage

China’s Sigenergy Technology seeks US$561.6 million from Hong Kong IPO

The Shanghai-based energy storage systems provider is selling 13.57 million shares at HK$324.20 each.

Banking & finance

Barclays boosts Hong Kong presence to tap thriving IPO market

C.S. Venkatakrishnan said the bank is increasing its outlay on talent and technology across its investment banking and trading units.

Artificial intelligence

Chinese AI glasses maker Rokid planning Hong Kong IPO: sources

Listing plan comes as giants Apple, Meta, Alibaba, Baidu, Xiaomi and Huawei, plus start-ups like Xreal, Rayneo, anticipate market growth.

A staff member demonstrates a pair of smart glasses developed by Hangzhou-based Rokid at a store in Yingtan, in east China’s Jiangxi province, on July 10, 2025. Photo: Xinhua
China stock market

China IPOs jump 56% as regulator eases restrictions to drive tech innovation

Funds raised on the mainland’s three exchanges in the first quarter topped 25.7 billion yuan, compared with 16.5 billion yuan a year earlier.

A close-up view of the bull statues in front of the Shenzhen Stock Exchange. Photo: Getty Images
HKEX

Editorial | Paperless stock market the way forward for Hong Kong

The fully digital system aims to boost efficiency and strengthen the city’s competitiveness as a leading financial centre.

China technology

Countdown starts for Chinese rocket maker CAS Space’s Shanghai listing

China’s commercial rocket champion plans to raise US$600 million on the Star Market after its listing application is accepted.

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Semiconductors

China’s No 3 foundry Nexchip files for Hong Kong listing to scale output

Wave of Chinese tech listings builds in Hong Kong as semiconductor groups scale up output.

A wafer sample on display during the Semicon China semiconductor exhibition in Shanghai. March 25, 2026. Photo: AFP
Mainland China

Hong Kong tightens grip on IPO crown as filings surge and pipeline grows

Sixteen new and refiled applications, led by hard-tech firms, point to a deepening pipeline as investor appetite returns.

Robotics

UBTech powers up as humanoid robot sales jump 23-fold

Rapid growth in ‘embodied intelligence’ is beginning to translate into real orders as Chinese robotics firms scale production.

Mainland China

Hong Kong retains IPO crown but may lose to US mega listings over full year

Second place for IPO funds raised is Nasdaq, with US$5.65 billion from 18 listings, while the New York Stock Exchange ranks third.

An exterior view of the Hong Kong stock exchange in Central, February 6, 2026. Photo: Jonathan Wong
Artificial intelligence

Zhipu AI revenue jumps 132% in first post-IPO report, missing estimates

Total losses soar 59.5 per cent to 4.72 billion yuan driven by mounting research and development spending.

The Zhipu AI booth at the World Artificial Intelligence Conference in Shanghai in 2024. Photo: Handout
China stock market

Iran war hits stocks as Hong Kong IPO boom falters

Conflict in the Middle East hammered Asian stocks in March, adding to the challenges facing Hong Kong’s IPO rush.

Baidu

Baidu-backed iQiyi files confidentially for Hong Kong listing

The move makes iQiyi the latest US-listed Chinese company to look to float in Hong Kong amid US regulatory scrutiny.

Artificial intelligence

Breathing fire: Manycore first of the ‘Six Little Dragons’ to near Hong Kong IPO

Spatial intelligence firm moves ahead of tech peers after clearing a key Hong Kong listing hurdle.

Hangzhou-based Manycore, operator of the world’s largest spatial design platform. Photo: Weibo
Artificial intelligence

What is Yuanjie, the Chinese chipmaker whose share price has soared nearly 900%?

Yuanjie’s rise underscores how China’s optical chip firms are riding the AI infrastructure boom, with data centre demand driving growth.

Many companies have capitalised on China’s AI infrastructure build-out. Photo: AFP
Mainland China

HKIC chief sees opportunities in advanced tech across China and Hong Kong

Hong Kong government-backed investor says strong returns and co-investment flows are reinforcing the region’s appeal to global capital.

Banking & finance

Tong Ren Tang unit pulls Hong Kong IPO in first postponement this year

Hospital-network operator delays plan to raise up to US$115 million amid tepid demand.

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