港交所披露易显示，截至6月24日，年内已有17家公司通过港交所聆讯，等待正式登陆港股市场。 | 港股IPO正在提速。2025年以来，港股市场已上市35只新股。而在本周，除开已在周一上市的三花智控等3只个股外，还有曹操出行等5只个股即将上市。 | | --- | | 2508.HK | SAINT BELLA | 2025-06-26 | 主板 | | --- | --- | --- | --- | | 6168.HK | 周六福 | 2025-06-26 | 主板 | | 6883.HK | 颖通控股 | 2025-06-26 | 主板 | | 2619.HK | 香江电器 | 2025-06-25 | 主板 | | 2643.HK | 曹操出行 | 2025-06-25 | 主板 | | 2609.HK | 佰泽医疗 | 2025-06-23 | 主板 | | 2617.HK | 药捷安康-B | 2025-06-23 | 主板 | | 2050.HK | 三花智控 | 2025-06-23 | 主板 | IPO依旧紧锣密鼓 港交所披露易显示，今年已有17家公司通过聆讯，其中曹操出行、香江电器、颖通控股、周 ...

从投资区域来看，中国香港市场投资余额占境外投资余额的51%，是股票、债券境外投资的首选市场。 在低利率环境与资产荒压力持续加剧的背景下，保险资金正加速向港股市场倾斜。6月24日，北京商报记者从业内获悉，中国保险资产管理业协会（以下简 称"保险资管业协会"）近日下发的2024年保险资金境外投资及港股通投资情况调研结果（以下简称"调研结果"）显示，中国香港市场投资余额占境外投资余 额的51%，是股票、债券境外投资的首选市场；2025年，有63%的机构计划加大港股投资规模，主要通过港股通方式增加港股投资。 据了解，保险资管业协会面向具备以外汇形式开展境外投资资格的52家保险机构进行调研，结果显示有38家机构2024年开展了境外投资业务。 在业内人士看来，当前，如何实现保险资金运用的安全性、收益性与流动性平衡，成为行业核心命题。保险资金的投资动向不仅折射出对港股估值优势的认 可，更揭示了长期资金在当前阶段的重要配置逻辑。在此背景下，港股市场凭借高股息特征等，逐渐成为保险资金战略配置的重要方向。 港股成险资"心头好" 在保险资金全球化配置版图中，香港市场的战略地位愈发凸显。 对于港股投资占比高的原因，中央财经大学副教授 ...

Core Points - The China Securities Index Hong Kong Stock Connect Technology Index (CSI Hong Kong Technology, 931573) opened lower but closed higher, increasing by 2.46% to 3184.52 points with a trading volume of 68.697 billion yuan [1] - Over the past month, the CSI Hong Kong Technology Index has decreased by 1.56%, and over the past three months, it has declined by 3.92%, while year-to-date it has risen by 29.38% [1] - The index selects 50 large-cap technology leading companies with high R&D investment and good revenue growth from the Hong Kong Stock Connect, reflecting the overall performance of these companies [1] Index Adjustment and Management - The sample of the CSI Hong Kong Technology Index is adjusted every six months, with adjustments implemented on the next trading day after the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2] - New securities that rank in the top ten by market capitalization will enter the index on the eleventh trading day after being included in the Hong Kong Stock Connect [2] Fund Tracking - Public funds tracking the CSI Hong Kong Technology Index include various funds such as Invesco Great Wall CSI Hong Kong Technology Connect C, Invesco Great Wall CSI Hong Kong Technology Connect A, and several ETFs [2]

Core Viewpoint - Meituan's stock price is currently at HKD 132, showing a rebound of 2.64%, but is struggling near the lower boundary of the Bollinger Bands, with significant resistance at the 10-day and 30-day moving averages [1][3] Technical Analysis - The first support level at HKD 122.5 is crucial; if breached, the stock may drop to the strong support zone at HKD 113.3 [3] - The upper resistance level is at HKD 136.6, and a breakthrough could lead to a challenge of HKD 142.7 [3] - The RSI indicator shows an oversold state at 38, while the VR ratio indicates a buy signal, suggesting a potential technical rebound with a 56% probability [3] - The MACD maintains a sell signal, but momentum oscillators show signs of divergence, indicating possible buying opportunities [1][3] Derivative Products Performance - Citigroup's put option (16254) achieved an 18% increase within two trading days following a 3.53% drop in Meituan's stock price [3][5] - Other put options, such as Morgan Stanley's (64017) and UBS's (63423), recorded gains of 18% and 19%, respectively, with UBS's product being the best-performing short tool of the day [3][5] - HSBC's call option (26318) has a strike price of HKD 150.1 with a leverage of 7.6 times, offering a cost-effective choice for bullish investors [6] - UBS's call option (26512) has a lower leverage of 7.3 times but provides a stable investment option due to its relatively low implied volatility [6] Market Sentiment - The current market sentiment indicates a potential test of the support at HKD 122.5 or a direct challenge to the resistance at HKD 136.6 [12] - The analysis suggests that the breakout of either key price level could significantly alter trading strategies [12]

从中证港股通医疗主题指数持仓的市场板块来看，香港证券交易所占比100.00%。 从中证港股通医疗主题指数持仓样本的行业来看，医疗商业与服务占比35.09%、制药与生物科技服务 占比31.59%、医疗器械占比12.87%、化学药占比12.53%、生物药品占比7.91%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样 本中剔除。样本公司发生收购、合并、分拆等情形的处理，参照计算与维护细则处理。当港股通证券范 围发生变动导致样本不再满足互联互通资格时，指数将相应调整。 金融界6月24日消息，上证指数低开高走，中证港股通医疗主题指数 (港股通医疗主题，932069)上涨 3.01%，报896.72点，成交额131.84亿元。 数据统计显示，中证港股通医疗主题指数近一个月上涨7.54%，近三个月上涨6.79%，年至今上涨 30.22%。 据了解，中证港股通医疗主题指数从港股通证券范围内选取5 ...

Group 1 - IFBH International Holdings Ltd, the second-largest coconut water brand globally, launched its Hong Kong IPO on June 20, backed by a 92.4% revenue contribution from China and an 80% year-on-year growth, making it a rare health consumption stock in the 2025 Hong Kong IPO market [1] - In the Chinese market, IFBH holds a 34% retail market share, significantly surpassing its closest competitor by seven times, while in Hong Kong, it has maintained a 60% market share for nine consecutive years [1] - The company operates with a lean team of only 46 employees and utilizes an outsourcing model for production and distribution, resulting in an increase in gross margin from 34.7% in 2023 to 36.7% in 2024 [1] Group 2 - The company's net cash flow from operating activities for 2024 is projected at $41.75 million, reflecting a 55% year-on-year increase, with cash and cash equivalents at $54.82 million, a remarkable growth of 251.4% [1] - IFBH's growth is heavily reliant on the Chinese market, which contributed 92.4% of its revenue, amounting to $146 million in 2024, with an impressive year-on-year growth of 82.3% [1] - The product line is highly concentrated in coconut water, which accounts for 95.6% of revenue, although the company plans to introduce coconut milk in 2025, which currently represents less than 5% of sales [1] Group 3 - The supply chain is entirely dependent on Thai coconut raw materials, with a significant 18% increase in raw material costs in 2024 due to high temperatures and drought [2] - The market share of IFBH's coconut water has dropped from 55.53% in Q1 2024 to 36.42% in Q1 2025, largely due to price wars initiated by local low-cost competitors [2] Group 4 - Despite having a revenue scale of less than 0.5% of Coca-Cola, IFBH demonstrates a growth curve and profitability that exceed industry averages, showcasing its "small but beautiful" high-growth characteristics [3] - The overall market sentiment is favorable, indicating a bullish trend for new stocks, including IFBH coconut water, which is expected to perform well [3] Group 5 - For new investors looking to participate in the Hong Kong IPO, the first step is to open a brokerage account and fund it using an overseas card; internet brokers like Singapore's ChangQiao or Wealth Broker are recommended for convenience [4][5][6] - The investment highlights for IFBH include being a market leader, high growth performance, and a light asset model, capitalizing on the health beverage trend and employing aggressive marketing strategies for category dominance [6]

Core Points - The China Securities Index for Hong Kong Stock Connect Growth Strategy Index reported a value of 1265.42 points, with a decline of 0.81% over the past month and 1.84% over the past three months, while showing a year-to-date increase of 22.00% [1][2] Group 1: Index Overview - The index considers liquidity and growth characteristics of securities within the China Securities Index for Hong Kong Stock Connect, selecting those with prominent growth styles and using a weighted approach based on growth probability and free float market capitalization [1] - The index was established on December 31, 2014, with a base value of 1000.0 points [1] Group 2: Top Holdings - The top ten holdings of the index include Xiaomi Group-W (10.31%), Tencent Holdings (10.06%), Alibaba-W (9.77%), Meituan-W (8.31%), AIA Group (7.53%), Hong Kong Exchanges and Clearing (5.24%), BYD Company (4.81%), Pop Mart International (2.04%), Kuaishou-W (1.79%), and Li Auto-W (1.67%) [1] Group 3: Sector Allocation - The sector allocation of the index holdings includes Consumer Discretionary (38.96%), Information Technology (14.11%), Financials (13.61%), Communication Services (12.92%), Healthcare (7.60%), Consumer Staples (3.09%), Materials (2.69%), Industrials (2.64%), Real Estate (1.82%), Utilities (1.68%), and Energy (0.89%) [2] Group 4: Index Adjustment Mechanism - The index samples are adjusted quarterly, with adjustments occurring in the second Friday of March, June, September, and December [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2]

截至6月23日，港股红利低波ETF(520550）年内创34次新高，获资金连续7周净流入，资金流入叠加净值上行，该标的年内规模增长169%，迭创 历史新高。 长江证券陈洁敏表示，今年港股红利资产走强，主要受益于风险偏好相对下调后的防御配置需求。随着成长股持续缩圈，这类防御性强、有稳健 绝对收益能力的资产成内外资共识。 保险资金有配置港股高股息资产的强需求，这与保险OCI账户的定位以及国内资产荒有关。在国内寻找较为稳健的高收益回报资产比较困难，因 此保险资金更倾向于配置港股的高股息资产。随着新会计准则调整过渡期结束，保险OCI账户配置和加仓红利资产的节奏和体量或有进一步提升 机会。 【港股分红总额1.38万亿，同比增13%，红利类资产分红持续增长】 据2024年年报，港股分红总额达1.38万亿，同比增速超10%，当前已有927家公司宣告分红，当前正在迎来分红高潮，7月将有91家公司即将分 红。 跟A股对比，港股平均股息率较高，在房地产、通讯、公用事业、金融等多个板块的股息率相较于A股都有明显优势，可通过南下资金捕捉到更 多优质的高股息标的。 A股市场和港股市场2023、2024年年度分红表现 | 市场 | 实际 ...

Group 1 - The Hang Seng Index rose by 2.06%, while the Hang Seng Tech Index increased by 2.14% [1] - Chinese brokerage stocks experienced significant gains, with Hongye Futures rising over 15%, and China Silver and Guolian Minsheng both increasing by over 8% [1] - New Oriental saw an increase of over 8%, and UBTECH rose by over 6% [1] Group 2 - China Merchants Energy fell by over 9%, and China Nuclear International declined by over 6% [1]

Core Viewpoint - The hot pot brand "Banu" is set to go public in Hong Kong, highlighting the growing trend of companies seeking to list in the Hong Kong market due to its favorable conditions for capital raising and valuation opportunities [1][3][31]. Group 1: Company Overview - Banu, founded in 2001, has grown from a small hot pot restaurant in Henan to a prominent brand with 145 direct stores across 39 cities by June 2025 [3][5]. - The company's strategic shift in 2012 towards "productism," focusing on high-quality ingredients like tripe and unique broth options, has been pivotal for its success [5][6]. - Banu has established a robust supply chain with five central kitchens and a dedicated base material factory, ensuring consistent quality and efficient logistics across 14 provinces [6][17]. Group 2: Reasons for Hong Kong Listing - Banu's decision to list in Hong Kong is driven by three main factors: the need for capital to support rapid expansion, the potential for higher valuations, and the favorable market characteristics of Hong Kong [8][9]. - The company plans to open 177 new stores over the next three years and invest significantly in expanding its supply chain infrastructure, necessitating substantial funding [9][10]. - Banu's profitability has improved, with projected earnings of 1.02 billion RMB in 2023, but its profit margins remain lower than competitors like Haidilao [10][12]. Group 3: Market Dynamics - The Hong Kong IPO market has become increasingly attractive for consumer brands due to its lower listing thresholds and flexible valuation criteria compared to the A-share market [18][20]. - In the first quarter of 2025, the Hong Kong IPO market raised nearly 177 billion HKD, a significant increase, while the A-share market has seen a decline in activity [22][28]. - The shift in market dynamics reflects a broader trend where consumer brands, especially those with clear positioning and supply chain advantages, are favored in the Hong Kong market [30][34].