Zheng Quan Ri Bao Wang·2025-11-19 13:57Core Viewpoint - The recent surge in A-share companies planning to list in Hong Kong reflects a growing trend supported by favorable policies and the desire for international expansion [2][3][5]. Group 1: Company Listings - On November 19, Dashiang Group Co., Ltd. announced its plan to issue H-shares and list on the Hong Kong Stock Exchange, marking another addition to the 141 A-share companies that have proposed similar plans this year [1][2]. - As of November 19, 15 companies have expressed intentions to list in Hong Kong just in November alone, indicating a significant increase in interest [2]. Group 2: Policy Support - The surge in listings is attributed to supportive policies from both mainland and Hong Kong regulatory bodies, including a streamlined approval process for companies with a market capitalization of at least HKD 10 billion [2][4]. - The China Securities Regulatory Commission announced measures in April 2024 to support leading domestic companies in their Hong Kong listings, further enhancing the appeal of the market [2]. Group 3: Strategic Importance - Companies view listing in Hong Kong as a crucial step for internationalization and enhancing their global influence, with firms like Dajin Heavy Industry citing the need to solidify their global strategy and improve competitiveness [4][5]. - The characteristics of companies pursuing Hong Kong listings often include being industry leaders or possessing technological barriers, aiming to leverage international capital for expansion and risk diversification [4][5]. Group 4: Market Impact - The increase in A-share companies listing in Hong Kong is expected to enhance market quality and international competitiveness, promoting better connectivity between A-share and global markets [7]. - The influx of quality H-shares is likely to attract international capital and enhance the appeal of the Hong Kong market, reinforcing its status as an international financial center [7].