Group 1: Hong Kong Capital Market Performance - Hong Kong's capital market has rapidly recovered in 2025, with significant capital inflow and the highest IPO fundraising globally [1][3] - The total equity financing in Hong Kong reached 2897.40 billion HKD, with IPOs contributing 1240.06 billion HKD, reflecting year-on-year increases of 286.52% and 584.22% respectively [4] - The number of IPOs in Hong Kong has increased to 304, with 51 companies listed, indicating a 14.29% rise in quantity [4] Group 2: Intermediary Institutions' Business Surge - Intermediary institutions in Hong Kong, including brokers, law firms, and accounting firms, are experiencing a surge in business due to the active IPO market [3][5] - The issuance fees for 51 listed companies in 2025 reached 53.40 billion HKD, nearly matching the total for the entire year of 2024 [3] - Major accounting firms have seen significant increases in their audit and advisory services due to the heightened demand from IPO activities [5][6] Group 3: Future Outlook for IPOs and Intermediaries - The second half of 2025 is expected to maintain or even increase the IPO activity in Hong Kong, with over 200 companies having submitted listing applications [9] - The demand for legal services has surged, with law firms completing 15 IPO projects in the first half of 2025, reflecting a growth rate exceeding the industry average [5][6] - Intermediary institutions are optimistic about the future, anticipating continued growth driven by favorable policies and international capital inflow [8][9] Group 4: Real Estate Market Recovery - The demand for office space in Hong Kong's core business districts is showing signs of recovery, driven by the active IPO market [10][12] - The rental prices for Grade A office buildings in Central have dropped nearly 45% from their peak in 2019, making them attractive to financial institutions [11] - The resurgence in the IPO market is expected to positively impact the leasing demand for office spaces, particularly in Central [13] Group 5: Growth in Hong Kong's Tech Sector - The strong performance of the capital market has revitalized Hong Kong's tech sector, with a notable increase in the number of startups [14][15] - The number of startups in Hong Kong reached 4694 in 2024, a 10% increase from 2023, with significant growth in health, medical, and green technology sectors [14] - Investment in Hong Kong's tech sector is projected to rise, with venture capital funding expected to grow from under 500 million USD in 2015 to 5 billion USD by 2025 [17]

"干半年顶一年" 香港中介机构忙并快乐着 证券时报记者 吴瞬 2025年以来，香港资本市场快速复苏，资金持续流入香港，上半年新股募资规模更是居全球首位。在一片繁荣景象下，香港众多券商、律所、会计师事务所 等中介机构的业务也极为火热。 Wind数据显示，2025年以来，仅在IPO一项上，51家已上市公司的发行费用就达到53.40亿港元，而在2024年全年这一数据也不过58.23亿港元。分析人士 指出，随着香港市场持续火热，下半年预计港股IPO热度将延续甚至提升，这也将再次带动中介机构业务量的提升。 在2025年上半年全球金融格局中，香港资本市场异军突起，资金持续流入，多项指标全球领先，新股募资规模重回全球第一。值得关注的是，这一轮资 本市场热潮更是牵引着金融中介机构、科技创新以及写字楼市场等多个领域实现共振，呈现出显著回暖态势。 | | 今年以来全球主要市场涨幅前十名一览 | | | --- | --- | --- | | 全球主要市场 | | 涨幅(%) | | 韩国综合指数 | 33.04 | | | 恒生指数 | 22.13 | | | 德国DAX | 20.59 | | | 巴西IBOVESPA指数 | ...