Core Insights - The willingness of Chinese companies to apply for listings in the U.S. has significantly rebounded in 2025, with a total of 80 companies submitting initial applications, marking an 11% increase from 72 in 2024 [1] Group 1: Listing Pathways - Traditional IPOs have become the dominant method for listings, with 71 companies planning to go public through this route, representing a substantial 29% year-on-year increase and serving as the main driver for the overall growth in applications [1] - The popularity of SPAC mergers has declined, with only 9 companies opting for this method, down from 17 in 2024, and all these companies plan to list on NASDAQ with valuations not exceeding $600 million [1] Group 2: Geographic Distribution - Over 60% of the applying companies are headquartered in Hong Kong, with 49 companies accounting for 61% of the total applications [1] - Among the applicants, there are 3 companies involved in VIE structures, as well as entities transitioning from A-shares, OTC markets, and Hong Kong's Growth Enterprise Market to NASDAQ [1] Group 3: Market Conditions - All companies are currently in the early stages of the listing application process, and the evolving global regulatory environment introduces significant uncertainty regarding the future listing timelines [1]
快讯 | 中概股赴美上市申请回升：2025年80家递表，超六成来自香港
Sou Hu Cai Jing·2026-01-04 01:55