Xin Lang Cai Jing·2025-12-02 07:05Core Insights - The article discusses the phenomenon of six companies having higher stock prices in the Hong Kong market (H-shares) compared to their A-share counterparts, which is contrary to the typical market behavior where A-shares usually trade at a premium due to lower transaction costs and better liquidity [1][3]. Group 1: Market Dynamics - The Hang Seng AH Share Premium Index (HSAHP) remains above 120, indicating a 20% premium of A-shares over H-shares on average [1][3]. - The six companies, including Ningde Times (300750.SZ, 03750.HK), are identified as newly listed stocks expected to debut by 2025, contributing to their higher H-share prices due to limited circulation [1][3]. Group 2: Investor Behavior - There is a noted preference among foreign investors for industry leaders in niche markets, which makes it challenging to find comparable stocks in the international market, leading to the observed price discrepancies [1][3].