国际长线资金回流 后备上市资源丰富——今年港股IPO募资有望超3000亿港元

Group 1 - The core viewpoint of the articles highlights that Hong Kong's IPO market is expected to maintain its leading position globally, with a projected fundraising amount exceeding 300 billion HKD in 2026, driven by technology and A to H listings [1][6][7] - The number of companies waiting to go public on the Hong Kong Stock Exchange has reached over 300, indicating a robust pipeline for future IPOs, with significant participation from leading firms across various sectors [2][4] - The successful listing of companies like Wallen Technology and AI firms such as Zhipu AI and MiniMax marks a strong start for the 2026 IPO market, emphasizing the technology sector's prominence [2][3] Group 2 - Major drivers for the 2026 IPO market include the high demand for biotech companies, leading technology firms in AI, new energy, and semiconductor sectors, as well as traditional industries undergoing transformation [3][5] - The influx of international long-term capital into the Hong Kong market is expected to favor leading Chinese companies with strong growth, profitability, and cash flow [4][5] - Predictions from various institutions suggest that around 150 to 160 companies will successfully list in 2026, with total fundraising estimates ranging from 320 billion to 350 billion HKD, indicating a significant increase from 2025 [6][7] Group 3 - The trend for 2026 is anticipated to show a "two ends large, middle differentiation" characteristic, where large projects and industry leaders are likely to attract stable long-term funding, while smaller projects may face more volatility [6][7] - A to H listings are expected to remain a significant component of the IPO landscape, as these companies typically have established business records and provide more certainty for international investors [7]