Di Yi Cai Jing·2025-05-22 11:14Group 1 - The core viewpoint of the article highlights a surge in H-share listings by leading A-share companies, with significant capital inflow into the Hong Kong market, driven by international investors' re-evaluation of Chinese assets [1][2] - The recent IPO boom in Hong Kong has raised a total of HKD 145 billion in the past year, marking a 2.7 times increase year-on-year, with major contributions from companies like Ningde Times and Midea Group [2] - The previous IPO wave in Hong Kong, initiated by Alibaba's return in November 2019, lasted nearly three years, indicating a cyclical trend in capital movements and market sentiment [1][2] Group 2 - The top ten IPOs in Hong Kong predominantly come from mainland China, contributing 75% of the total fundraising, showcasing the dominance of A-share companies in the Hong Kong market [2] - The Hong Kong Stock Exchange experienced over HKD 1 trillion in IPO financing from 2019 to 2021, with 2019 being the peak year with 183 IPOs raising HKD 312.7 billion [2] - The recent market rally in Hong Kong, with an increase of nearly 5000 points since April 9, suggests a positive outlook for the medium to long term, driven by continued capital inflow and the entry of more quality companies [1]