Group 1 - The trend of A-share companies going public in Hong Kong is gaining momentum, with 10 companies successfully listing on the Hong Kong Stock Exchange since September last year, and dozens more preparing for the process [1] - Leading companies like Luxshare Precision and Changchun High-tech are planning to issue H-shares and list in Hong Kong as part of their global strategy and internationalization efforts [1] - The semiconductor and consumer electronics sectors are particularly active, with 16 A-share companies submitting prospectuses to the Hong Kong Stock Exchange by June 30, significantly higher than the same period last year [1][2] Group 2 - The motivation for companies to list in Hong Kong revolves around global development needs, allowing easier access to global supply chains and attracting overseas partners [2] - The Hong Kong IPO market is becoming increasingly attractive, with an expected fundraising amount of 130 to 150 billion HKD for new listings in 2025 [2] - The "A+H" dual listing model provides diversified financing channels and enhances financing efficiency through mechanisms like "flash placements" [2] Group 3 - Over 30 A-share companies have submitted applications for H-share listings, with more than 20 companies announcing related plans, reflecting improved market liquidity and rising valuation levels in the Hong Kong market [3]

（文/朱道义 编辑/张广凯） 2025年以来，伴随着中国资产重估、港股流动性改善、企业出海等多重动力助推，"A+H"的双重上市模式正渐入佳境，如今首家向其发起冲刺的酒店巨头也 出现了。 6月4日晚间，锦江酒店（股票代码：600754.SH）公告透露，为深入推进公司的全球化战略，加强与境外资本市场对接，拟于境外发行股份（H股）并在香 港联交所上市，拟聘请毕马威为审计机构。 锦江酒店表示，本次H股发行规模不超过发行后总股本的15%（超额配售权行使前），并授权整体协调人行使不超过前述发行的H股股数15%的超额配售 权，但最终发行规模、发行比例要视具体情况而定。 且因此次上市计划尚处于早期阶段，公司将充分考虑现有股东利益和境内外资本市场的情况，自股东大会关于本次H股上市相关议案审议通过之后的二十四 个月内，选择适当的时机和发行窗口完成本次H股上市。 对于募集资金的用途，锦江酒店表示将用于拓展海外业务、偿还银行贷款及补充营运资金等。此番描述，一方面点明了锦江酒店剑指国际化，但另一方面也 透露了其业绩情况似乎不甚乐观。 事实上，此次锦江酒店冲击港交所，用"回归"二字或更为合适。 公开资料显示，1993年6月，锦江酒店在上 ...