HKEX(HK:00388) Huan Qiu Wang·2026-01-22 01:04Core Viewpoint - The number of companies waiting for IPOs in Hong Kong has exceeded 350, with a significant shift in Chinese companies returning to Asian markets for listings, particularly in Hong Kong, which is set to become the largest IPO fundraising market globally by 2025 [1][4] Group 1: IPO Market Dynamics - Hong Kong is projected to raise approximately HKD 280 billion (USD 36 billion) through IPOs in 2025, accounting for nearly one-quarter of the global total IPO fundraising of around USD 160 billion, with the majority being Chinese companies [4] - The easing of regulations for mainland companies seeking secondary listings in Hong Kong is a key factor driving the current IPO boom [4] - The Hong Kong Stock Exchange (HKEX) is set to launch a "specialized enterprise" listing channel in 2025, aimed at lowering the barriers for early-stage, high-growth technology and biotech companies to list [4] Group 2: Market Trends and Expectations - The momentum for Chinese companies to list overseas is shifting back to Asia, particularly as the New York market shows signs of weakening [1] - Market participants expect this trend of increased IPO activity in Hong Kong to accelerate further this year and continue in the foreseeable future [1]