[Table_Title] 研究报告 Research Report 9 Mar 2026 国泰海通香江策论 Global Macro Strategy 港股 IPO、再融资及解禁对港股行情的影响——顺势而为，基本面为王！——国泰 海通香江策论之专题报告 Impact of IPOs, Fundraising, and Lock-up Expiries on Hong Kong Equities — Fundamentals Lead —— GTHT Global Macro Strategy Thematic Report 张忆东 Yidong Zhang 黄雨昕 Yuxin Huang 周林泓 Amber Zhou yd.zhang@htisec.com yx.huang@htisec.com amber.lh.zhou@htisec.com [Table_yemei1] 观点聚焦 Investment Focus [Table_summary] (Please see APPENDIX 1 for English summary) 港股 IPO、再融资热度与市场行情同频共振。融资高峰通常与市场上行的阶段 ...