毕马威：中国香港今年有望重夺全球IPO市场榜首，中概股回港上市数量有望持续增加

Group 1 - Hong Kong is expected to reclaim the top position in the global IPO market by the end of 2025, driven by an unprecedented wave of listing applications [1][2] - As of September 30, 2023, Hong Kong's securities market recorded nearly 300 listing applications, marking a historical high [1] - In the first three quarters of 2025, the global IPO market raised $111.6 billion with 930 listings, reflecting a 32% increase in capital raised and a 3% increase in the number of listings compared to the same period last year [1] Group 2 - The Hong Kong IPO market saw 67 new listings in the first nine months of 2025, raising HKD 182.9 billion, which represents a year-on-year increase of 49% and 229% respectively [1] - The growth in Hong Kong's IPO market is primarily driven by "A+H" listings, which accounted for 50% of the total IPO fundraising in the first three quarters [1] - The return of Chinese concept stocks, such as Hesai Technology, which completed a dual primary listing in Hong Kong, is expected to increase the number of such listings in the future [2]