Group 1: IPO Market Overview - The Hong Kong stock market is experiencing a new wave of IPO activity, with total fundraising reaching HKD 145 billion in the past year, a year-on-year increase of 2.7 times [1][2] - The top ten IPOs, primarily from mainland companies, contributed 75% of the total fundraising, with notable leaders being CATL and Midea Group [2][3] - As of May 21, 2025, 76 new stocks have been listed, with 23 companies going public this year alone, raising a total of HKD 653 billion [2] Group 2: Key Players and Fundraising - CATL and Midea Group led the fundraising efforts with HKD 410 billion and HKD 356.66 billion respectively, marking them as the top fundraisers for 2024 and 2025 [2][4] - Other significant players in the second tier include Horizon Robotics, SF Express, and China Resources Beverage, each raising over HKD 50 billion [2][4] - The third tier consists of consumer-related companies like Mixue Group and Chifeng Gold, raising between HKD 20 billion and HKD 40 billion [3][4] Group 3: Globalization and Strategic Moves - Chinese companies are accelerating their global expansion through the "A+H" dual capital market strategy, which is crucial for their international growth [5][6] - Leading companies in various sectors, including pharmaceuticals and consumer electronics, are planning to list in Hong Kong to enhance their global presence [6][7] - The automotive sector is also seeing increased activity, with companies like Seres and Chery Motors planning to raise funds through IPOs in Hong Kong [8] Group 4: Capital Inflows and Market Dynamics - The weakening US dollar has led to increased capital inflows into the Hong Kong market, as investors seek to buy Chinese assets [9][10] - The Hong Kong Monetary Authority has injected over HKD 1.16 billion into the market to support the Hong Kong dollar, reflecting strong demand for stocks [9] - The successful IPOs of companies like CATL have created a "money-making effect," encouraging more mainland companies to pursue listings in Hong Kong [10] Group 5: Regulatory Environment - The Hong Kong regulatory framework is evolving to facilitate the listing process for mainland companies, including the introduction of a "special line" for tech and biotech firms [11][12] - Recent changes have lowered the minimum requirements for H-share listings, making it easier for companies to access the Hong Kong capital market [12]

Group 1 - Contemporary Amperex Technology Co., Ltd. (CATL) has made significant progress in its Hong Kong IPO process, planning to raise up to HKD 41 billion (approximately USD 5.3 billion) with a maximum share price set at HKD 263, covering 117.9 million H-shares [1] - The primary purpose of CATL's fundraising is to support its overseas capacity expansion and further international business development, focusing on projects in Hungary, Indonesia, and Spain, with a total investment of USD 7.3 billion for the Hungarian battery factory [1] - The Hong Kong stock market is experiencing a resurgence of automotive-related IPOs, with companies like Midea Group successfully raising HKD 30.67 billion for global R&D, smart manufacturing, and supply chain upgrades [1] Group 2 - Companies like Sanhua Intelligent Controls and iFlytek are also choosing to list on the Hong Kong Stock Exchange to enhance their international image and competitiveness, with Sanhua planning to raise at least USD 500 million [2] - Seres has submitted its listing application, expecting to raise over USD 1 billion, driven by its rapid growth and partnership with Huawei, aiming to strengthen its global market presence [2] - Chery Automobile is preparing for its IPO, aiming to raise approximately USD 1.5 billion, marking a significant step towards achieving its long-standing goal of going public [4] Group 3 - The surge in Hong Kong IPOs is supported by policy measures from the China Securities Regulatory Commission, which has introduced initiatives to facilitate the listing of leading domestic enterprises in Hong Kong [4] - The streamlined IPO process in Hong Kong is attracting companies like Chery, which has attempted to go public multiple times since 2004, now benefiting from improved fundamentals due to increased sales [6] - The need for substantial funding for overseas expansion, including production bases and sales networks, is driving both first-time and secondary listings among automotive companies [6]

花朵财经观察出品 撰文丨学研 "果链巨头蓝思科技赴港上市" "遇见小面冲击港交所中式面馆第一股" "赛力斯、宁德时代谋划A+H二次上市" "'卡牌界泡泡玛特'卡游二次冲击港股IPO" "手握'零食很忙'和'赵一鸣零食'的鸣鸣很忙正式向港交所递交上市申请" ...... 最近的港交所实在是太热闹了，一众中国企业扎堆涌入，掀起了一波内地企业赴港上市热潮。 今年一季度，港股新增51家上市申请，其中近四分之一为A股上市公司。截至2025年4月30日，剔除失 效、撤回、被拒绝和被发回的拟上市公司后，还有149家公司（来自全球）在港交所排队IPO，内地企 业超100家。其中不乏奇瑞汽车、沪上阿姨、周六福、老乡鸡等明星股，宁德时代、蓝思科技等寻 求"A+H"机会的A股上市公司。 | 序号 | 同花顺代码 | 证券商称 | 申请日期 | 拟上市板块 | 申请状态 | 同花顺全球行业 | 首次申请日期 | | --- | --- | --- | --- | --- | --- | --- | --- | | - | H2045. HK | IFBH | 2025-04-09 | 主板 | 处理中 | 包装食品与肉类 | 202 ...