Mei Ri Jing Ji Xin Wen·2026-01-20 01:20Group 1 - The Hong Kong stock market has seen a significant increase in equity financing activities, with a total of HKD 390.9 billion raised as of January 19, 2025, representing a year-on-year growth of 316.27% [1] - In 2025, the total equity financing scale in the Hong Kong primary market reached HKD 6,127 billion, showing a year-on-year increase of 248.8% [1] - Chinese securities firms are increasingly dominating the equity underwriting business in the Hong Kong market, holding six out of the top ten positions in underwriting amounts, with a combined market share of 56.15% [1] Group 2 - Mu Qiguo has stepped down as the head of the research institute at Western Securities, with Zhao Yinghua taking over the role [2] - The leadership change reflects the updated requirements of the company's "14th Five-Year" strategic plan for research and development capabilities [2] - Mu Qiguo will focus on the company's intelligent investment research and the establishment of research operations for its Hong Kong subsidiary [2] Group 3 - In 2025, insurance asset management institutions registered a total of 314 debt and equity investment plans and private equity funds, with a total scale of CNY 510.443 billion, showing a year-on-year decrease of 20.71% in quantity and 26.08% in scale [3] - The number of debt investment plans decreased significantly to 285, with a scale of CNY 441.905 billion, reflecting a year-on-year decline of 24% and 28.46% respectively [3] - Conversely, the number of equity investment plans increased to 22, with a scale of CNY 33.532 billion, indicating a year-on-year growth of 83.33% in quantity and 12.52% in scale [3]