6月以来，A股IPO新增受理量大增。数据显示，6月A股新增IPO受理企业家数达到152家，超过今年前5个月及去年全年总和。 投行新格局逐渐形成 2024年底以来，"国联+民生""国泰君安+海通"合并相继过会，投行市场格局也重新洗牌。 从6月被受理的IPO项目保荐机构分布来看，"两超四强"（国泰海通、中信证券"两超"领衔，中信建投、国联民生、华泰联合证券、中金公司"四强"并立）的投行新 格局正在形成。 Wind数据显示，6月获受理的152家企业中，国泰海通证券以20.5家的保荐数量（0.5表示其中有一单为联合保荐）排名第一，其中募资规模较大的包括视涯科技、大 普微等；中信证券以20家的数量排名第二，其保荐项目中，募资金额最大的摩尔线程拟募资规模高达80亿元。 除了上述"两超"遥遥领先之外，中信建投、国联民生、华泰联合证券、中金公司则为第二梯队，形成"四强"并立的格局。具体来看，中信建投以13家的保荐数量排 名第三，其中有11家为北交所项目。 从近期新增受理企业的保荐机构来看，在新一轮IPO政策周期下，投行格局也在不断洗牌。当下，国泰海通、中信证券"两超"领衔，中信建投、国联民生、华泰联 合证券、中金公司"四强" ...

Core Viewpoint - The establishment of the "AI Technology Investment Bank Platform" aims to enhance the capitalization of innovative projects and support the transformation of small and medium-sized listed companies in Hong Kong [1][2]. Group 1: Platform Objectives and Benefits - The platform is designed to effectively connect numerous innovative projects with capital resources, revitalizing the integration of small and medium-sized companies and tech projects in Hong Kong [1][2]. - The goal is to create 1-2 benchmark projects within six months, demonstrating a model of "mergers and acquisitions - industrial empowerment - market value enhancement" [1]. - The platform will facilitate the entire government service chain for innovative enterprises, from introduction to incubation, landing, and listing [1]. Group 2: Current Landscape and Challenges - Over the past decade, Hong Kong has invested more than HKD 150 billion in promoting innovation and technology, resulting in a significant number of high-tech startups in fields such as AI, biomedicine, and new materials [2]. - Structural bottlenecks, including high IPO thresholds and a lack of traditional investment banking services, hinder the conversion of local technological achievements into capital results [2]. Group 3: Platform Features - The platform includes four core systems: - AI Intelligent Assessment System, which quantifies project potential through a multi-dimensional scoring model [3]. - Project and Capital Matching System, which constructs a capitalization matching mechanism by integrating small-cap listed companies [3]. - Intermediary Resource and Policy Linkage Platform, which integrates professional teams and embeds government funds and policy channels [3]. - Virtual Incubation and Data Sandbox Mechanism, which lowers physical landing thresholds and supports cross-border project digital entry and regulatory collaboration [3].