快讯｜2025港股IPO持续火热，科技与“A+H”模式成核心引擎

Core Insights - The Hong Kong IPO market has shown remarkable performance in 2025, with 87 companies listed and a total fundraising amount of HKD 246.93 billion, representing a year-on-year increase of 243.28% [1] Group 1: Market Characteristics - The market is characterized by a dominance of technology companies, with new listings covering sectors such as semiconductors, AI, and high-end manufacturing, including notable firms like Peak Technology and Hesai Technology [1] - A total of 69 IPO companies attracted 468 cornerstone investors, collectively investing HKD 94.59 billion, with over 20 institutions favoring star projects [1] - The "A+H" model has seen significant growth, with 16 new "A+H" companies listed this year, raising over HKD 100 billion, which accounts for 48% of the total new stock financing [1] Group 2: Market Liquidity - The average daily trading volume of Hong Kong stocks reached HKD 316.7 billion in the first nine months [1] - Southbound funds have net bought approximately HKD 1.3 trillion this year [1] - With strong policy support and ample backup resources, half of the 296 companies waiting to be listed are in the new economy sector, indicating a sustained attractiveness of the Hong Kong stock market [1]