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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.
People walk past digital displays of stock market data outside the Hong Kong exchange in Central on March 13. Photo: Jelly Tse
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

Semiconductors

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

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.

The clustering of Hong Kong applications reflects improving issuer sentiment following a strong start to the year. Photo: Sun Yeung
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.

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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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Banking & finance

Hong Kong holds No 3 ranking as global capital hub amid market volatility

Latest index underscores Hong Kong’s role as a leading global finance hub, with strength in fintech, banking and insurance.

Hong Kong maintained a leading position globally across key industry sectors, including banking, insurance and financial services. Photo Jelly Tse
HKEX

Gold rally drives Merdeka’s Hong Kong IPO plan as HKEX courts global issuers

Indonesian gold miner seeks Hong Kong listing to expand investor base and tap strong global demand for bullion.

One of Merdeka’s core assets is its Pani Gold Mine located in Gorontalo province in Indonesia, which achieved its first gold production in February and its first gold sale this month. Photo: Handout
China’s private sector

China’s Jiangsu Aidea eyes Hong Kong IPO as gateway to US, European Aids markets

Yangzhou-based drug maker views Hong Kong as a ‘good window’ for its international expansion in HIV and Aids treatments.

Banking & finance

Asian private equity values cash flow as fundraising falls to 12-year low

Advanced manufacturing and healthcare attract more attention at the expense of technology, media and telecommunications, Bain & Co says.

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Hong Kong stock exchange

Editorial | HKEX should heed recommendations from Hong Kong’s securities watchdog

As the city’s stock exchange moves forward on listing reforms, it would do well to also improve vetting and maintain compliance standards.

The closing figures for the Hang Seng Index are displayed at HKEX at Exchange Square in Central on March 2. Photo: Dickson Lee
Robotics

Inside Unitree’s landmark IPO: what to know about China’s humanoid giant

Listing, if approved, would be a bellwether of investor appetite for so-called embodied AI companies.

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HKEX

Should the Hong Kong stock exchange make all IPO applications confidential?

Proposed rule change aims to encourage more applications, but what about transparency and document quality concerns?

Mainland China

China’s Unitree Robotics rides humanoid tide as it targets US$610m IPO

Prospectus reveals that company’s revenue jumped 335 per cent last year, while net profit surged nearly eight times.

Unitree’s G1 robot is displayed during the World AI Cannes Festival 2026, in Cannes, France, on February 12, 2026. Photo: EPA
HKEX

Editorial | HKEX’s listing reforms will boost Hong Kong’s competitiveness

The measures seek to widen access for innovative firms seeking capital while preserving the city’s standards of financial probity.

The Hong Kong Exchanges and Clearing at Exchange Square in Central, on March 13. Photo: Jelly Tse
Hong Kong stock market

SFC prepares to inspect Hong Kong IPO listing sponsors amid quality concerns

Market regulator will soon begin inspection of investment banks amid concerns about deficiencies in listing documents and misconduct.

Hong Kong

China’s tightened IPO rules for some ‘red chips’ in Hong Kong raise concerns

The CSRC asks some Hong Kong listing candidates to change their red-chip structure and issue H shares.

Hong Kong stock market

First HKIC bet SmartMore seeks Hong Kong IPO amid booming tech pipeline

Unicorn’s AI platforms power firms from Tesla to Apple suppliers, highlighting the government fund’s role in the city’s tech investment push.

SmartMore provides intelligent manufacturing and digital innovation through a proprietary industrial platform that integrates software and hardware for enterprise clients. Photo: Edmond So
Hong Kong economy

Editorial | Zero tolerance for insider trading central to Hong Kong’s financial future

Crackdown on wrongdoers a welcome sign of regulatory vigilance that is vital to the city’s role as an international finance hub.

Hong Kong regained its title as the No 1 market for IPOs last year. Photo: Sun Yeung
HKEX

HKEX unveils biggest listing reforms since 2018 to lure diverse innovative firms

Bourse operator lowers bar for companies with weighted voting rights and expands the confidential filing option for all listing candidates.

Hong Kong stock market

Hong Kong sends ‘very strong message’ with insider-trading arrests

Joint operation by ICAC and SFC shows commitment to protecting city’s status as a fundraising hub, analysts say.

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