2025年前三季度中资企业IPO排行榜

Core Insights - The number and scale of IPOs by Chinese enterprises significantly increased in the first three quarters of 2025 compared to the same period in 2024, with total fundraising amounting to 221.53 billion yuan. The Hong Kong stock market has become the primary financing channel for these IPOs [1][6]. Group 1: Global IPOs by Chinese Enterprises - In the first three quarters of 2025, Chinese enterprises completed 197 IPOs globally, an increase of 46 from the same period in 2024 [3]. - The total fundraising scale for these global IPOs reached 221.53 billion yuan, representing a 95.86% increase year-on-year [6]. - The breakdown of IPOs by market shows 76 in A-shares, 63 in Hong Kong, and 58 in overseas markets, with respective increases of 7, 21, and 18 from 2024 [8]. Group 2: A-Share Market IPOs - A total of 76 IPOs were issued in the A-share market in the first three quarters of 2025, with quarterly distributions of 27, 21, and 28 [17]. - The fundraising amount in the A-share market was 75.97 billion yuan, with a notable increase in the second quarter by 170.98% year-on-year [19]. - The industry distribution of A-share IPOs included 28 from industrial, 15 from consumer discretionary, and 15 from information technology sectors, all raising over 10 billion yuan [27]. Group 3: Hong Kong Market IPOs - The Hong Kong market saw 63 IPOs in the first three quarters of 2025, with a fundraising scale of 138.28 billion yuan, marking a substantial increase of 960.18% in the second quarter [35]. - The industry distribution in Hong Kong included 17 from healthcare, 14 from information technology, and 13 from consumer discretionary, with the industrial sector raising the highest amount of 48.91 billion yuan [38][39]. - Companies from Shanghai, Zhejiang, and Guangdong led in the number of IPOs, with total fundraising from Fujian and Zhejiang reaching 40.65 billion yuan and 19.54 billion yuan respectively [40]. Group 4: Overseas Market IPOs - In the overseas market, 58 IPOs were completed, with a total fundraising of 7.27 billion yuan, showing a decline of 82.87% in the first quarter [45]. - The industrial sector had the highest number of companies at 18, while the consumer discretionary sector raised the most funds at 3.82 billion yuan [48]. - Companies from Hong Kong, Zhejiang, and Beijing were the most active in overseas listings, with total fundraising from Hong Kong reaching 3.01 billion yuan [50].