Sou Hu Cai Jing·2025-10-25 00:54Core Viewpoint - The article discusses the various ceremonial practices associated with IPOs across different global exchanges, highlighting the cultural significance and historical context behind these rituals. Group 1: IPO Practices in Different Exchanges - The Shanghai Stock Exchange uses a bronze bell weighing 46 kg, which was recast in 2010, and has seen 23 companies listed by August 2025 [4] - The Shenzhen Stock Exchange employs two bells, each symbolizing different values: "thick capital" for the main board and "innovation growth" for the ChiNext board [5] - The Beijing Stock Exchange features a mini bell, 30% smaller than its counterparts, with a streamlined ceremony lasting 12 minutes [7] - The Hong Kong Stock Exchange uses a gong, custom-made in the 1990s, weighing 26 kg, with a notable IPO ceremony involving a group of representatives [9][11] - The New York Stock Exchange utilizes a heavy bronze bell weighing 600 pounds (approximately 272 kg), with a traditional ringing ceremony [13][15] - The Nasdaq operates with an electronic button that triggers a sound effect, marking a modern approach to IPO ceremonies [17][18] Group 2: Global IPO Trends and Statistics - As of September 2025, nearly 300 companies have listed on the Beijing Stock Exchange [8] - The Hong Kong market saw 66 new stocks listed in the first three quarters of 2025, raising approximately 1,829 million HKD [11] - The London Stock Exchange recorded only 5 IPOs in the first half of 2025, the lowest fundraising level since 1995 [22] - The Tokyo Stock Exchange had only 5 IPOs in the first three quarters of 2025, marking a 30-year low in fundraising [28] - The Australian Securities Exchange completed 6 IPOs in the first three quarters of 2025, with only one being from a Chinese background [31]