Shang Hai Zheng Quan Bao·2025-07-25 18:22Group 1 - The core viewpoint of the articles highlights the ongoing trend of A-share companies listing in Hong Kong, with a focus on enhancing capital strength and international competitiveness through the "A+H" dual capital platform model [1][4][5] - In 2023, 40 A-share companies have announced plans to list in Hong Kong, significantly increasing from the previous year, with a notable presence of hard technology companies from the Sci-Tech Innovation Board [1][2] - Leading companies such as CATL, Hengrui Medicine, and others have successfully transitioned to the "A+H" model, reflecting a growing preference among international investors for high-quality companies [1][2][5] Group 2 - Lixun Precision's board approved the issuance of H-shares to enhance global strategic layout and improve overseas financing capabilities, with a market capitalization of approximately 278 billion yuan [2][3] - The trend of A-share companies listing in Hong Kong is supported by favorable policies and a recovering market, with the Hong Kong Stock Exchange attracting more domestic and international funds [5][6] - Hengrui Medicine's recent listing raised nearly 10 billion HKD, primarily for R&D and production facility expansion, while CATL raised over 35 billion HKD for international business expansion [6][5] Group 3 - The "A+H" listing model is seen as a way for hard technology companies to diversify financing channels, which is crucial for ongoing R&D investments and international business development [3][4] - The recent surge in IPOs is characterized by larger companies, with many having significant international revenue, indicating a strong demand for global market expansion [6][2] - The listing in Hong Kong is viewed as a critical step for companies to enhance their governance and operational transparency, further supporting their internationalization efforts [6][5]