德勤：预计前三季度A股新股数量及融资额均增长

Core Insights - The report by Deloitte China highlights a slowdown in the global IPO market due to economic factors and geopolitical uncertainties, particularly the U.S. tariff policies, leading to a decrease in the financing scale of the top ten global IPOs compared to the previous year [1] - Despite global trends, Hong Kong is expected to maintain its position as the top global IPO financing hub, driven by six large IPOs during the period [1] - The A-share market in mainland China is showing steady growth in new listings and financing amounts, supported by the implementation of new policies aimed at enhancing the capital market [1] Group 1: A-share Market Performance - The A-share market is projected to have 78 new listings by September 30, 2025, with total financing reaching 77.1 billion yuan, marking a 13% increase in the number of new stocks and a 61% increase in financing compared to the same period last year [1] - The technology and innovation sectors are expected to remain hot spots for new listings in the A-share market, reflecting the government's support for these industries [1][2] - The steady rise in the A-share market index is seen as a positive outcome of the new policies being implemented [1] Group 2: Hong Kong Market Outlook - Hong Kong is anticipated to have 66 new listings in the first three quarters of the year, raising 1,823 million HKD, which is a 47% increase in the number of new stocks and a 228% increase in financing compared to the same period last year [2] - The presence of significant overseas capital inflow is boosting the Hong Kong stock market, leading to a recovery in valuations [3] - The forecast for the last quarter suggests that Hong Kong's IPO market will maintain strong momentum, with over 80 new listings expected for the entire year, and total financing projected between 250 billion to 280 billion HKD [3]