据不完全统计，8月以来，已有近20家A股公司宣布拟筹划赴港上市；同时，立讯精密、胜宏科技、军 信股份、星环科技等已正式向港交所递交H股发行上市申请。从企业规模来看，筹划赴港上市的公司中 不乏细分行业龙头，其中，立讯精密、胜宏科技的A股总市值均已突破千亿元。"A股公司积极筹划赴港 上市，确实与今年港交所IPO新规落地存在直接关联。"汇生国际资本总裁黄立冲在接受记者采访时表 示，H股为企业提供了重要的外汇融资通道，这对其海外业务拓展及全球化战略布局具有关键支持作 用。因此，最适合采用"A+H"上市模式的是那些有明确海外拓展与出海需求的企业。（上证报） 股市慢牛来了，你准备好了吗？备好账户跟进牛市，更有五大福利领取>> ...

锚定全球化战略 8月以来近20家A股公司筹划赴港上市 | 8月以来, 化工、传媒等 | 近己国家A股公司宣布,拟筹划赴港上市 覆盖行业包括电子、机械设备、医药生物、食品饮料、 | | --- | --- | | 公告日期 证券简称 | 最新进展 | | 格林奥 8月25日 | 董事会同意公司发行H股股票并在港交所主板挂牌上市 | | 中坚科技 8月23日 | 授权公司管理层启动发行H股并在港交所上市相关筹备工作 | | 华勤技术 8月23日 | 董事会同意公司发行H股股票并在港交所主板挂牌上市 | | 科兴制药 8月23日 | 筹划发行境外上市股份(H股)并在港交所上市 | | 万辰集团 8月23日 | 盟事会同意公司发行H股股票并申请在港交所主板挂牌上市 | | 天下秀 8月22日 | 筹划发行H股股票并在港交所上市 | | 天味食品 8月21日 | 筹划发行H股股票并在港交所主板挂牌上市 | | 量环科技 8月20日 | 向港交所述交H股发行井上市的申请 | | 胜宏科技 8月20日 | 向港交所邊交发行H股井在港交所主板挂牌上市 | | 立讯精密 8月19日 | 向港交所邊交境外上市股份(H股)发行上市 ...

在中国资本市场上，一场新的造富风暴正蓄势待发。随着港股IPO市场的持续火爆，"A+H"上市模式在2025年蔚然成风，引领着一波企业走向财富巅峰。 据统计，截至2025年上半年，港股共有42家公司成功上市，其中，宁德时代、海天味业等A股领军企业通过"A+H"模式募集的资金超过1000亿港元，占据 了港股半年度总募资额的72%。这一数据无疑表明，港股已成为A股龙头企业再融资的重要舞台。 在这一背景下，A股市场中的"果链一哥"、市值超过3000亿元的立讯精密也按捺不住内心的激动，正式向港交所递交了上市申请。若一切顺利，立讯精密 有望成为下半年港股IPO的最大赢家之一。 随着立讯精密市值的飙升，王来春的个人财富也水涨船高。在赴港IPO期间，她和哥哥王来胜以1315.2亿元的资产位列"2025年新财富500创富榜"第13位。 王来春更是多次登顶女性富豪榜榜首，连续多年蝉联潮汕女首富。按照立讯精密当前的发展势头，一旦港股IPO成功，王来春有望超越娃哈哈掌舵人宗馥 莉，成为新一届中国女首富。 立讯精密的成功并非偶然。从王来春的个人经历来看，她的勤奋、要强以及高瞻远瞩的战略眼光是其成功的重要因素。早年，王来春在富士康打工期间 ...

Core Viewpoint - Zhang Yong's appointment to the Hong Kong Stock Exchange's (HKEX) China Business Advisory Committee is expected to enhance the exchange's ability to optimize listing rules and attract more new economy enterprises to go public in Hong Kong [2][5]. Group 1: Zhang Yong's Background and Role - Zhang Yong, former chairman of Alibaba Group, has extensive experience in the Chinese market and financial sector, having previously held various leadership roles within Alibaba [2][3]. - His addition expands the advisory committee to nine members, which includes prominent figures from various sectors, aimed at providing insights into China's financial market dynamics [2][3]. Group 2: Impact on HKEX and Market Trends - Zhang Yong's experience is anticipated to drive further reforms at HKEX, enhancing its international competitiveness and deepening its engagement with the mainland market [5]. - The number of mainland enterprises listed on HKEX has surpassed 1,400, accounting for over 70% of the market's total market capitalization, indicating a strong trend towards new economy sectors [5]. - The "A+H" listing model is expected to see significant growth, with over 40 A-share companies planning to list in Hong Kong, and several already achieving top positions in global IPO financing [4][5]. Group 3: Future Prospects - The return of high-quality Chinese concept stocks is projected to further increase the attractiveness of the Hong Kong market, supported by regulatory encouragement from the China Securities Regulatory Commission [6].

Group 1 - In 2025, the Hong Kong capital market shows strong financing vitality, with total equity financing in the Hong Kong stock market reaching 291.64 billion RMB, a year-on-year increase of 288.75% [1] - On July 25, 2025, the company announced plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange, marking the resumption of Hong Kong listings for brokers after six years [1] - Currently, there are 13 brokers listed in both A-share and H-share markets, including notable firms such as CITIC Securities and Huatai Securities [1] Group 2 - The company achieved a revenue of 2.418 billion RMB in 2024, a year-on-year growth of 25.49%, ranking 40th among A-share listed brokers; net profit reached 985 million RMB, up 40.49%, ranking 29th [2] - Asset management business has become a significant growth driver, with revenue of 909 million RMB in 2024, accounting for 37.61% of total revenue, and a year-on-year increase of 62.67% [2][4] - Investment banking business also saw substantial growth, with net income from fees reaching 184 million RMB, a year-on-year surge of 91.66% [5] Group 3 - The brokerage business has faced stagnation, with net income from fees remaining around 223 million RMB from 2021 to 2023, and a slight decline to 219 million RMB in 2024 [5] - Interest net income remains under pressure, showing a continuous decline since 2020, with a recovery to -95 million RMB in 2024, but still in a loss position [7] - In Q1 2025, the company experienced a significant decline in net profit by 31.42%, attributed to bond market volatility affecting asset management income [9][10] Group 4 - The company plans to invest up to 110 million RMB in purchasing an office building in Shanghai to enhance its operational capabilities and attract financial talent [11][12] - The dual strategy of seeking international capital through H-share listing and strengthening local operations through real estate acquisition reflects the company's determination to overcome challenges and transform [12][13]

Group 1 - The "A+H" listing model in the domestic capital market has shown significant expansion since 2025, with many companies disclosing plans to list in Hong Kong across various sectors [1][2] - As of July 17, 2023, 10 A-share companies have listed in Hong Kong this year, bringing the total number of "A+H" companies to 160 [2] - The recent policy signals from regulatory authorities aim to enhance the efficiency of overseas listing management, indicating a supportive environment for companies seeking to list abroad [1][2] Group 2 - The introduction of five capital market cooperation measures by the China Securities Regulatory Commission (CSRC) in April 2024 supports leading domestic enterprises in listing in Hong Kong [2] - The Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange have optimized the approval process, reducing the new stock hearing cycle from "T+6" to "T+4" [2] - The implementation of a filing system in 2025 has significantly shortened the overseas listing approval timeline from six months to 2-3 months, exemplified by CATL's approval process taking only 25 days [2] Group 3 - The "green light" effect from regulators, combined with ongoing optimizations in the Hong Kong Stock Exchange's listing systems, presents a viable path for A-share companies to list in both markets [3] - Companies can achieve new financing increments and broaden international financing channels through re-listing, enhancing their global brand influence [4] - The "A+H" listing model helps mitigate systemic risks by diversifying market exposure, effectively hedging against policy, exchange rate, and liquidity risks [4] Group 4 - Analysts predict that the number of A-share companies listing in Hong Kong will continue to increase over the next 2 to 3 years [5]

Group 1 - Fengcai Technology officially listed on the Hong Kong Stock Exchange on July 9, becoming the first company from Shenzhen to adopt the "A+H" listing model in 2023 [1][3] - The company, established in 2010 and listed on the Sci-Tech Innovation Board in April 2022, specializes in semiconductor chips for motor drive, providing high-quality control chips and consulting services for various motor systems [4][6] - The funds raised from the listing will be used to enhance R&D capabilities, strategic investments and acquisitions, enrich product offerings, and expand overseas sales networks [6] Group 2 - The "A+H" listing model is gaining popularity among companies, allowing them to leverage dual capital platforms for strategic, market, and funding considerations, enhancing international brand influence and facilitating global expansion [7] - The Hong Kong IPO market has seen a significant recovery, with multiple companies, including Fengcai Technology, listing on the same day, marking one of the busiest days for IPOs in recent years [6] - The policy framework from the central government supports the listing of companies in the Guangdong-Hong Kong-Macao Greater Bay Area on both Hong Kong and Shenzhen exchanges, promoting financial integration and high-quality economic development [7][11] Group 3 - Nanshan District, where Fengcai Technology is located, has established a comprehensive service mechanism to support the growth of listed companies, focusing on policy support, technological innovation, and talent development [11][15] - The district has implemented initiatives like the "X-Day" platform to provide financial services and support for innovative projects, enhancing the financing environment for startups [17][19] - Nanshan aims to create a global service center to assist Chinese companies in international markets, offering a range of services from consulting to logistics [19]

Group 1 - The Hong Kong IPO market is experiencing a surge in activity, with companies like Lens Technology successfully listing and raising significant capital, marking a record for CITIC Securities in 2025 [1] - The first half of the year saw a strong push in the Hong Kong IPO market driven by the "A-share + H-share" model, with a total financing scale of 88 billion HKD, reclaiming the top position globally [1] - Lens Technology's H-share issuance raised 47.68 billion HKD, achieving several key milestones, including being the first independent underwriting of a project with a market value exceeding 100 billion HKD in nearly two decades [1] Group 2 - There is a continuing trend of A-share companies seeking secondary listings in Hong Kong, with 180 A-share companies currently in the queue [3] - The Hong Kong market is viewed as a critical platform for companies going global, with significant advantages in financing efficiency and valuation differentiation across industries [3] - The core asset pricing power of A-shares is systematically shifting southward, positioning the Hong Kong market as a primary venue for value discovery of core assets [3]

Core Viewpoint - The Hong Kong IPO market is experiencing a surge in activity, driven by the "A+H" listing model, with significant contributions from large A-share companies seeking to raise capital in Hong Kong [1][10]. Group 1: IPO Market Dynamics - Bluefin Technology's IPO on July 9, 2023, raised HKD 54.83 billion, marking it as the largest financing project for Hong Kong IPOs in 2025 [1]. - The first half of the year saw the Hong Kong Stock Exchange (HKEX) achieve a financing scale of HKD 880 billion, reclaiming its position as the top global IPO market [1]. - The trend of A-share companies listing in Hong Kong is expected to continue, with 180 A-share companies currently in line for H-share listings [10][11]. Group 2: Bluefin Technology's H-Share Listing - Bluefin Technology's H-share IPO is notable for being the first independent underwriting project in Hong Kong with a market value exceeding HKD 1 billion in nearly two decades [2]. - The company aims to use the raised funds primarily to enhance its overseas business presence, particularly in Southeast Asia and North America [5]. - The rapid process of Bluefin's H-share listing took only 100 days from application to completion, showcasing the efficiency of the HKEX [2]. Group 3: Market Trends and Investor Sentiment - The "A+H" listing model is becoming increasingly popular among A-share companies, driven by the need to attract global capital and enhance brand influence [10][11]. - The valuation disparity between A-shares and H-shares is prompting companies to choose the Hong Kong market for its higher valuation potential [8][9]. - The influx of foreign capital into the Hong Kong market is improving liquidity and driving up valuations, creating a positive feedback loop for companies considering H-share listings [9].

Group 1 - The Hong Kong IPO market showed strong performance in the first half of 2025, with total fundraising reaching HKD 107.1 billion, a sevenfold increase compared to the same period last year, reclaiming the title of "world's first" in IPO fundraising [1][2] - The number of new listings on the main board increased significantly, with 42 new IPOs, representing a 47% year-on-year growth [1][2] - The main board's new listings were primarily concentrated in the retail, consumer goods, and services sector (34%), followed by industrial and materials, and medical and pharmaceutical sectors (each accounting for 23%) [1][2] Group 2 - The strong market performance is attributed to a surge in large IPOs and the continued popularity of the "A+H" listing model, which accounted for over 70% of the total fundraising in Hong Kong [3] - Leading domestic companies utilizing the "A+H" model are expanding their financing channels and accelerating their global presence, contributing to a positive market cycle [3] - The market is expected to maintain a favorable atmosphere, with over 200 companies currently waiting to go public, particularly in technology innovation, medical and pharmaceutical, and industrial sectors [3]