Core Insights - The Hong Kong IPO market is set to be revitalized in 2025, driven by a surge of mainland companies listing in Hong Kong, which is expected to be the main engine for the market's growth [1]. Group 1: IPO Activity - As of November 27, 2025, a total of 217 companies have completed the listing application process for Hong Kong, with an additional 260 companies still in the application phase [1]. - Among the 217 companies that completed their applications, 170 have already gone public, with 23 listings in 2023, 61 in 2024, and 86 in 2025 to date [3]. - The Hong Kong Stock Exchange has welcomed 92 companies this year, with 86 of them being from mainland China, raising a total of 2,052 million HKD [3]. Group 2: Fundraising and Company Performance - The three largest fundraising companies from mainland China are CATL (Ningde Times) raising 35.657 billion HKD, Seres (Sailis) raising 14.283 billion HKD, and Sany Heavy Industry raising 13.453 billion HKD [3]. - The average application processing time for the 217 companies was 166 days, with 8 companies completing the process in less than 50 days [2]. - The fastest applications were completed by CATL (25 days), Ningbo Joyson (31 days), and Meilian Group (34 days), while the longest took over 597 days [2]. Group 3: Geographic Distribution - The 86 mainland companies listed are distributed across 19 provinces, with Shanghai, Guangdong, Jiangsu, and Beijing each contributing over 10 companies [4]. - The majority of the listings were through IPOs, accounting for 98% of the total, with only 2 companies using alternative methods to list [4].
境内企业赴港上市备案一览：217家完成备案 已上市170家 备案中260家（附名单）
Sou Hu Cai Jing·2025-11-28 06:14