多重政策利好持续推动下，2026年A股公司赴港上市热情不减，"A＋H"布局企业数量进一步增加。 1月26日，东鹏饮料(集团)股份有限公司(以下简称"东鹏饮料")在港交所正式发布H股全球发售公告。公 告披露，本次全球发售H股基础发行股数为40，889，900股，其中香港公开发售占10%，国际发售占 90%，发行价最高不超过每股248港元，股票代码09980。这一系列动作标志着东鹏饮料的港股IPO之旅 进入最后冲刺阶段。 自2025年以来，港股市场迎来了一波中资企业上市潮，但像东鹏饮料这样敢于发行选择最高发售价策略 的案例并不多见。更值得关注的是其基石投资者阵容——根据公告，东鹏饮料已与15家基石投资者达成 承诺认购约6.4亿美元，其中包括卡塔尔投资局(QIA)、淡马锡、摩根大通资产管理、瑞银资产管理、贝 莱德、富达、兰馨亚洲、保银(Pinpoint)、红杉中国、嘉里集团、盈科拓展集团等豪华基石阵容。当全 球知名资本用真金白银为中国消费品牌投票，东鹏饮料的港股之旅已超越了单纯的融资意义。 多重支撑，迎定价权东风 选择最高定价策略，这一决策背后，是公司基本面与市场时机形成的多重支撑。 从公司基本面看，东鹏饮料的增长 ...

Group 1 - The trend of A+H listings is gaining momentum, with nearly 30 A-share companies disclosing their plans to list in Hong Kong since August [1] - Major companies like Luxshare Precision and Shenghong Technology have formally submitted applications for H-share listings [1] - The encouragement from policies, simplified listing procedures, and the favorable valuation and liquidity of the Hong Kong market are driving this trend [1] Group 2 - A-share companies planning to list in Hong Kong span multiple industries, including semiconductors, machinery, pharmaceuticals, food, and media, with semiconductors being the most represented [2] - Semiconductor companies require substantial funding for R&D and expansion, and the Hong Kong market offers a broad financing channel and supports internationalization [2] - Companies like Sanan Optoelectronics and Gree Energy are seeking H-share listings to enhance their global strategies and brand image [2] Group 3 - Companies like Guangzhou Ruoyuchen Technology are pursuing Hong Kong IPOs to strengthen their capital and competitiveness, aligning with their global market expansion strategies [3] - The A+H dual-track model is becoming an effective way for Chinese companies to access international capital markets and accelerate globalization [4] - H-share listings are seen as a key move in global strategies, allowing companies to integrate global resources and enhance brand recognition [4] Group 4 - Increasing numbers of A-share companies are leveraging Hong Kong as an international financing platform to expand global capital and enhance brand influence [5] - New policies, such as the "Science and Technology Enterprise Special Line," are expected to encourage more biotech and specialized technology companies to list in Hong Kong [6]