1829亿！港股IPO“爆了”

Group 1 - The Hong Kong IPO market has seen a significant surge in activity, with 286 new applications received by September 30, 2025, more than double that of the previous year [1][2] - In the first three quarters of this year, 66 new IPOs raised approximately 182.9 billion HKD (about 167.37 billion RMB), which is more than double the total raised in 2024 [1] - The popularity of the A+H listing model has driven this surge, with major companies like CATL raising around 41 billion HKD and Zijin Mining International raising 24.98 billion HKD [2][3] Group 2 - The regulatory environment has been favorable, with the China Securities Regulatory Commission encouraging leading domestic companies to list in Hong Kong and streamlining the approval process for eligible A-share companies [4] - The introduction of the "Specialized Technology Companies" listing channel by the Hong Kong Stock Exchange has attracted hard tech and biotech firms, allowing them to submit applications confidentially [5][6] Group 3 - The demand for IPOs has led to increased hiring in investment firms, particularly for teams focused on Hong Kong and AI investments, indicating a shift in market dynamics [7] - The participation of cornerstone investors has significantly increased, with an average of 5.35 cornerstone investors per IPO in 2025, compared to 1.37 in the previous year [8][9] - Local state-owned enterprises have become active cornerstone investors, with over 15 local state-owned platforms participating in IPOs this year [9][10]