永捷量化拟2026年港股上市，打造中国量化第一股

Industry Background: Rapid Expansion of Quantitative Sector - The acceptance of quantitative funds in A-share and Hong Kong markets has significantly increased in recent years. As of Q1 2025, the scale of quantitative management in China has surpassed 2.8 trillion RMB, with a five-year compound growth rate exceeding 30% [4] Company Advantages: Technology, Risk Control, and User Engagement - Technical Barrier: The company has developed over 380 quantitative models, performing more than 200 million daily calculations, establishing a self-developed core engine [5] - Risk Control System: The company employs multi-dimensional allocation, dynamic risk control, and high-frequency rebalancing models, achieving a drawdown control capability that is over 30% better than the industry average [5] - User Base: As of June 2025, the company has over 3 million registered users, with more than 620,000 active following users, creating a sustainable cash flow [5] - Profit Model: The primary revenue sources are strategy settlement service fees and platform value-added services, with a clear profit model and scalability [5] Strategic Significance of Hong Kong Listing - Capital Infusion: The expected fundraising scale is between 1.5 to 2 billion HKD, aimed at algorithm development, international market expansion, and financial cloud platform construction [6] - International Platform: The Hong Kong stock market serves as a bridge for international capital, facilitating connections with overseas funds [6] - Brand Effect: The listing status will enhance investor trust and improve compliance transparency [6] - Valuation Premium: Compared to similar US quantitative firms (e.g., Two Sigma, Citadel Securities), the company is expected to achieve a higher capitalization valuation than private equity institutions [6] Potential Impact - On the Industry: The company's listing will set a precedent for capitalizing quantitative private equity, potentially accelerating IPOs for leading institutions [6] - On Users: Increased platform transparency and compliance will boost investor confidence [6] - The proportion of quantitative strategies in private equity funds has risen from less than 10% in 2018 to the current 27% [6] - The Hong Kong market's capacity for quantitative funds continues to grow, with leading institutions accelerating their internationalization efforts [6]