Group 1: Market Activity - A total of 26 companies submitted applications to the Hong Kong Stock Exchange last week, marking a recent high in submissions [2] - Among the 26 companies, 3 passed the hearing, and 1 company is currently in the process of an IPO [10][12] Group 2: Industry Highlights - The semiconductor and computing sectors are particularly active, with companies like Weizhao Semiconductor and Placo Electronics submitting applications [2] - Weizhao Semiconductor reported a revenue of 615 million yuan and a profit of 40.25 million yuan for the first nine months of 2025 [2] - Placo Electronics achieved a revenue of 751 million yuan and a profit of 76.11 million yuan for the same period [2] Group 3: Robotics Sector - Several robotics companies, including Yifei Intelligent and Estun, are also pursuing listings [3] - Estun is ranked first in the industrial robotics sector by revenue, with a market share of 1.7% globally [3] - TuoStar is recognized as a leader in the domestic industrial robotics market, with a revenue of 1.688 billion yuan and a net profit of 47 million yuan for the first nine months of 2025 [3] Group 4: Biopharmaceutical Sector - Multiple biopharmaceutical companies are applying for listings, including Zeling Bio and Exegenesis Bio Inc. [4][5] - Zeling Bio reported a loss of 1.19 million yuan for the first nine months of 2025, while Exegenesis Bio has not yet received regulatory approval for its products [5][6] - Shanghai Shengsheng achieved a revenue of 538 million yuan and a net profit of 11.3 million yuan for the same period [4] Group 5: Food and Beverage Sector - The food and beverage sector is seeing significant activity, with companies like Yuanji Food and Qian Dama submitting applications [7] - Yuanji Food reported an adjusted net profit of 192 million yuan for the first nine months of 2025, a 31% increase year-on-year [7] - Qian Dama achieved a GMV of 14.8 billion yuan in 2024, maintaining its position as the top player in the community fresh product retail chain industry [7] Group 6: New Listings - Four new stocks were listed last week, with all experiencing price increases on their first trading day [13] - The stock of Howie Group, a global leader in CMOS image sensors, rose by 16.22% on its debut [13] - Zhaoyi Innovation, a storage chip leader, saw its stock price increase by 38.27% on its first day of trading [13]

Group 1: IPO Market Dynamics - The domestic and international capital markets have seen frequent IPO activities recently, marking an active start to the year [2] - Zhejiang Xingsheng Technology Co., Ltd.'s IPO was postponed on the day of its review, becoming the first IPO project to be postponed in 2026 on the Shanghai and Shenzhen stock exchanges [2] - The Hong Kong IPO market remains active, with 20 companies submitting listing applications covering high-growth sectors such as consumer retail, semiconductors, biomedicine, agriculture, and logistics [2] Group 2: Companies Approved for IPO - Suzhou Lianxun Instrument Co., Ltd. passed the review on January 14, becoming the first company to be approved for the Sci-Tech Innovation Board in 2026 and the first in the semiconductor industry to pursue A-share listing this year [2] - Lianxun Instrument's revenue grew from 214 million yuan in 2022 to 789 million yuan in 2024, with a projected net profit of 140 million yuan in 2024 [3][4] - Hangzhou Gaote Electronic Equipment Co., Ltd. successfully passed the review for the ChiNext Board on January 13, focusing on new energy battery management systems [5] Group 3: Financial Performance of Companies - Tianhai Automotive Electronics Group Co., Ltd. reported revenues of 6.557 billion yuan in 2022, increasing to 12.523 billion yuan in 2023, with a net profit of 324 million yuan in 2022 [6] - China Academy of Sciences Shenyang Scientific Instrument Co., Ltd. achieved revenues of 698 million yuan in 2022, projected to reach 1.082 billion yuan in 2024 [8] Group 4: New Listings in Hong Kong - Five companies listed on the Hong Kong market from January 12 to 16, including global third-largest digital image sensor supplier Omnivision Technologies, which saw a first-day closing price increase of 16.22% [9] - The storage chip leader Zhaoyi Innovation debuted with a first-day closing price increase of 38.27%, reflecting strong market recognition for hard technology [9] Group 5: Upcoming IPO Applications - The hard technology sector is prominent among new applications, with companies like Weizhao Semiconductor and Platinum Electronics focusing on power management chips and server power supplies [11] - Biomedicine and consumer sectors also show promise, with companies like Yinuo Micro Pharmaceuticals and Qian Dama seeking capital to expand their market presence [11][12]

Core Viewpoint - Red Star Cold Chain successfully listed on the Hong Kong Stock Exchange on January 13, 2026, raising approximately HKD 285 million through the issuance of about 23.26 million shares, with a market capitalization of HKD 1.12 billion [1] Company Overview - Red Star Cold Chain (Hunan) Co., Ltd. was established in 2006 and has developed a business model that combines frozen food store leasing with cold storage services, linking wholesalers and retailers in the frozen food supply chain [1] - The company is headquartered in Changsha, Hunan Province, and primarily provides frozen food storage services [1] Market Position - According to a report by Zhi Shi Consulting, Red Star Cold Chain is the second-largest provider in Central China for frozen food store leasing services, holding a market share of 8.8%, and the largest provider in Hunan Province with a market share of 54.7% [1] - The company's overall market share in China is 1.9% [1] IPO Details - The IPO on the main board of the Hong Kong Stock Exchange is expected to significantly enhance Red Star Cold Chain's industry influence, promote its brand globally, and improve corporate governance transparency [1]

Group 1 - A total of 113 stocks reached a 52-week high as of January 14, with notable performers including Feidao Tourism Technology (08069), Yiyuan Wine Industry (08146), and Xinda International Holdings (00111) achieving high rates of 38.64%, 38.57%, and 25.76% respectively [1] - The top three stocks by closing price that reached new highs are Feidao Tourism Technology at 0.055, Yiyuan Wine Industry at 0.970, and Xinda International Holdings at 0.810 [1] - Other significant stocks that reached new highs include Xunhe Group Equity (02997) at 0.044 with a 25.00% increase, and Zhongtian Hongxin (00994) at 0.460 with a 22.45% increase [1] Group 2 - The 52-week low rankings show stocks like Jiahe International Holdings (08591) at 0.900 with a decrease of -16.33%, and Hongxing Cold Chain (01641) at 12.880 with a decrease of -12.08% [3] - Other stocks that reached new lows include Zhongyuan Jianye (09982) at 0.099 with a -10.00% change, and Jingye Mingbang Group (02231) at 0.073 with a -9.72% change [3]

Core Viewpoint - Hongxing Cold Chain (Hunan) Co., Ltd. officially listed on the Hong Kong Stock Exchange on January 13, 2023, with an opening increase of 59.71% on its first trading day, but subsequently saw a decline of over 10% by January 14, 2023 [1] Company Overview - Hongxing Cold Chain was established on October 16, 2006, and is headquartered in Changsha, Hunan Province [1] - The company is primarily engaged in the trading platform for frozen food and cold storage services, with a total cold storage capacity of 320,000 tons [1] Listing Details - The company priced its shares at HKD 12.26 each and issued a total of 23.263 million shares during the listing [1] - This marks the first listed company in Changsha for the year 2026 [1]

Core Viewpoint - Hongxing Cold Chain (Hunan) Co., Ltd. officially listed on the Hong Kong Stock Exchange on January 13, 2023, marking a significant milestone for the company [1]. Group 1: IPO Details - On its first trading day, Hongxing Cold Chain opened at HKD 19.58 per share, a 59.71% increase, but closed at HKD 12.3, reflecting a modest gain of 0.33% [2]. - The company issued approximately 23.26 million shares globally, with 10% allocated for public offering in Hong Kong, raising a maximum of approximately HKD 285 million, and a net fundraising amount of about HKD 252 million after expenses [2]. Group 2: Business Overview - Hongxing Cold Chain is a provider of frozen food storage services and rental services for frozen food stores, headquartered in Changsha, Hunan Province [4]. - The company operates two frozen food storage bases in Changsha and integrates a professional trading platform with storage facilities, forming a "front store and back warehouse" business model [4]. - According to a report by Zhaosheng Consulting, Hongxing Cold Chain is the largest provider of frozen food storage services in Central China and Hunan Province, with market shares of 2.6% and 13.6%, respectively [4]. Group 3: Financial Performance - The company's revenue for 2022, 2023, and 2024 is projected to be approximately RMB 237 million, RMB 202 million, and RMB 234 million, respectively, with corresponding gross profits of about RMB 119 million, RMB 117 million, and RMB 123 million [5]. - The net profit for the same years is estimated at RMB 79 million, RMB 75 million, and RMB 83 million, with net profit margins of 33.4%, 37.3%, and 35.5% [5]. - For the first half of 2025, the company achieved revenue of approximately RMB 118 million, a 5.1% increase from the same period in 2024, while net profit was about RMB 40 million, a decrease of 3.9% year-on-year [7]. Group 4: Revenue Composition - The revenue composition for the first half of 2025 shows that frozen food storage services accounted for approximately 68.8% of total revenue, while store rental services and handling services contributed 20.1% and 9.5%, respectively [7]. - The core revenue source has remained stable, with frozen food storage services consistently contributing over 60% of total revenue since 2023 [7]. Group 5: Shareholding Structure - Prior to the IPO, Hongxing Shiye held 58.25% of the company, controlled by the collective ownership enterprise Hongxing Center [9]. - Post-IPO, Hongxing Shiye's shareholding decreased to 44.46%, remaining the largest single shareholder, while public shareholders collectively hold 25% of the shares [13].

Core Viewpoint - Red Star Cold Chain (1641.HK), a frozen food storage service provider, debuted on the Hong Kong Stock Exchange on January 13, 2023, with a significant initial surge in stock price, reflecting strong market interest but also highlighting potential volatility due to concentrated shareholding [1]. Company Overview - Red Star Cold Chain is headquartered in Changsha, Hunan Province, and is the largest provider of frozen food storage services in Central China and Hunan Province, with market shares of 2.6% and 13.6% respectively [1]. - In the frozen food store leasing market, it ranks as the second-largest provider in Central China (8.8% market share) and the largest in Hunan Province (54.7% market share) [1]. IPO Details - The company offered a total of 23.263 million shares, with 10% allocated for public sale in Hong Kong [1]. - The net proceeds from the IPO will be used for constructing a new processing plant, expanding frozen food storage warehouses, upgrading existing equipment and IT infrastructure, investing in artificial intelligence technology, seeking strategic acquisitions, and general corporate purposes [1]. Shareholding Structure - The share distribution indicates a high concentration of ownership, with the largest shareholder holding 20.8% of the international offering shares, and the top five shareholders collectively owning 73.9% [4][5]. - After the IPO, the largest shareholder will still hold 17.7% of the total issued H-shares, while the top five will own 63.0% [6].

Core Viewpoint - Hongxing Cold Chain (Hunan) Co., Ltd. has been listed on the Hong Kong Stock Exchange, with an opening price of HKD 19.58 and a closing price of HKD 12.3, reflecting a slight increase of 0.33% on the first trading day [1]. Group 1: IPO Details - The total number of shares offered by Hongxing Cold Chain is 23,263,000 H-shares, with 2,326,500 shares allocated for public offering in Hong Kong and 20,936,500 shares for international offering [2]. - The final offer price for the shares was set at HKD 12.26, resulting in total proceeds of HKD 285.20 million, with net proceeds amounting to HKD 252.33 million after deducting estimated listing expenses of HKD 32.87 million [3][4]. Group 2: Use of Proceeds - The funds raised will be utilized for constructing a new processing plant and cold storage warehouse over the next four years, upgrading existing equipment and IT infrastructure, investing in AI technology, seeking strategic acquisitions and partnerships, and for general corporate purposes [4]. Group 3: Financial Performance - The company reported revenues of RMB 236.7 million, RMB 201.8 million, RMB 233.6 million, and RMB 118.0 million for the years 2022, 2023, 2024, and the first half of 2025, respectively [7]. - Net profits for the same periods were RMB 79.1 million, RMB 75.3 million, RMB 82.9 million, and RMB 39.7 million [7]. - The company has declared cash dividends of RMB 30 million for 2022 and 2023, RMB 140 million for 2024, and RMB 40 million for the first half of 2025, totaling RMB 240 million over three and a half years [6].

Core Viewpoint - Red Star Cold Chain (1641.HK), a frozen food warehousing service provider, debuted on the Hong Kong Stock Exchange, experiencing a significant initial surge in stock price before facing a sharp decline later in the day [1]. Company Overview - Red Star Cold Chain is headquartered in Changsha, Hunan Province, and is the largest provider of frozen food warehousing services in Central China and Hunan Province, with market shares of 2.6% and 13.6% respectively [2]. - In the frozen food store leasing service market, it ranks as the second-largest provider in Central China (8.8% market share) and the largest in Hunan Province (54.7% market share) [2]. IPO Details - The company offered a total of 23,263,000 H-shares, with 10% allocated for public sale in Hong Kong [4]. - The net proceeds from the IPO will be used for constructing a new processing plant, expanding frozen food warehousing, upgrading existing equipment and IT infrastructure, investing in artificial intelligence technology, seeking strategic acquisitions and partnerships, and general corporate purposes [1]. Shareholder Concentration - The shareholder concentration is high, with the largest shareholder holding 20.8% of the shares allocated in the international offering, and the top five shareholders collectively holding 73.9% [5]. - Post-listing, the largest shareholder will still hold 17.7% of the total issued H-shares, indicating a significant concentration of ownership [6].

Group 1 - Red Star Cold Chain officially listed on the Hong Kong Stock Exchange on January 13, becoming the first listed company from Changsha this year, marking a new phase of capitalized development for the regional leader in the cold chain market [1] - The company has built a significant presence in the cold chain logistics sector over the past two decades, with over 1 million cubic meters of design capacity and more than 36,000 square meters of trading area, serving over 700 partners and handling an average daily throughput of over 4,000 tons [3][4] - The listing is expected to enhance the company's focus on temperature control and traceability technology innovation, as well as promote the construction of a green cold chain network [3][4] Group 2 - The successful listing of Red Star Cold Chain is seen as a catalyst for other Changsha enterprises to accelerate their engagement with international capital markets, potentially leading to a new wave of listings [5] - Other companies from Changsha, such as Xidi Zhijia and Mingming Hen Mang, have also recently listed or submitted applications for listing on the Hong Kong Stock Exchange, indicating a growing trend of local companies seeking broader development opportunities [6] - The establishment of the "Changsha Enterprises Listing Hong Kong Home" aims to facilitate local companies' access to the Hong Kong capital market, which is expected to further streamline the process for high-quality enterprises in advanced manufacturing, biomedicine, and new-generation information technology to go public [6]