Di Yi Cai Jing·2025-06-11 11:49Core Viewpoint - The strong willingness of issuers to list in Hong Kong has led to a surge in IPOs, with over 40 companies announcing plans to go public this year, matching the total from the past 20 years [1][4] Group 1: Factors Driving IPO Surge - Three main factors are contributing to the increased activity in Hong Kong IPOs: 1. China's economic stimulus policies have heightened global investor interest in Chinese assets, particularly in the AI sector [5][6] 2. Regulatory support from both mainland China and Hong Kong has expedited the IPO process [5] 3. The quality of companies going public has improved, sustaining high investor enthusiasm for new listings [5][6] Group 2: Market Dynamics - The participation of long-term funds in IPOs has significantly increased, with the number of international long-term funds involved in a single IPO rising from 3-5 to over 20 [8][10] - Notable IPOs include CATL, which raised approximately 41 billion HKD, and other companies like Hengrui Medicine and Mx Group also achieving substantial fundraising [4][8] Group 3: New Regulations and Market Opportunities - New regulations allow companies listed in Hong Kong from the Greater Bay Area to also list on the Shenzhen Stock Exchange, promoting capital flow between the two markets [1][11] - Approximately 250 companies listed in Hong Kong are registered in the Greater Bay Area, with 30 already listed in A-shares, indicating potential for further listings [12]