Core Insights - The 2025 Hong Kong IPO sponsorship rankings reveal that Chinese securities firms dominate the market, holding 6 out of the top 10 positions, with a significant influence in large projects [1][3] Group 1: Market Overview - The "A to H" projects accounted for nearly half of the fundraising amount in the year, showcasing the strong performance of Chinese brokers [1][3] - The leading firms have strengthened their "voice" in major projects, indicating a shift in market dynamics [1] Group 2: Top Sponsoring Institutions - CICC (China International Capital Corporation) leads with a sponsorship scale of HKD 61.5 billion and 41 projects, holding the top position in both scale and number of projects [1][3] - CICC participated in 9 out of the top 20 IPO projects in Hong Kong, representing 45% of the total, with 6 projects having an underwriting share exceeding 70% [1][3] Group 3: Other Notable Firms - CITIC Securities follows closely with a sponsorship scale of HKD 57.7 billion and 32 projects, showing a significant performance disparity between the first and second halves of the year [4] - Morgan Stanley ranks third with 12 projects and a scale of HKD 30.8 billion, experiencing a similar surge in the second half of the year [2][4]
2025年港股IPO保荐榜：中资机构强势主导 中金中信包揽前二 合计保荐规模占全市场40%