
Core Insights - In the first half of 2025, a total of 44 companies listed on the Hong Kong Stock Exchange, with 42 through IPOs, 1 via SPAC, and 1 GEM to main board transfer [1] Group 1: Underwriters Performance Ranking - The top underwriter for the 42 IPOs was CICC with 13 deals, followed by Huatai International and CITIC Securities (Hong Kong) each with 9 deals [2] - Other notable underwriters included China Merchants International with 6 deals and Morgan Stanley with 5 deals [3] Group 2: Hong Kong Legal Advisors Performance Ranking - The leading Hong Kong legal advisor was Davis Polk with 6 deals, followed by King & Wood Mallesons with 5 deals and K&L Gates with 3 deals [4][5] Group 3: Chinese Legal Advisors Performance Ranking - The top Chinese legal advisor was Commerce & Finance Law Offices with 7 deals, followed by Zhong Lun Law Firm and Jingtian & Gongcheng, each with 5 deals [6] Group 4: Accounting Firms Performance Ranking - The leading accounting firm was Ernst & Young with 15 audits, followed by KPMG with 11 audits and PwC with 7 audits [7]