Group 1 - The overall global IPO landscape for 2023 shows growth in both A-shares and Hong Kong stocks, with "A+H" accounting for 16% of the total number of listings and 33% of the total fundraising globally [1][2] - A-shares are expected to have over 100 new listings by the end of the year, with total fundraising projected to rise from 67.4 billion RMB in 2024 to 110 billion RMB in 2023, driven by large IPOs [2][3] - The average return rate for new stocks on their first trading day reached 253%, marking the highest in five years, indicating a healthier IPO market ecosystem [2][3] Group 2 - The Science and Technology Innovation Board (STAR Market) is experiencing a surge in IPOs, with several companies, including domestic GPU firms, recently launching their offerings [3][4] - The core characteristic of IPOs this year is a focus on technological innovation, reflecting a shift from quantity-driven growth to quality-driven development in the A-share market [3][4] - A total of 199 companies have applied for IPOs in A-shares, primarily in the technology sector, including artificial intelligence and advanced chips [4] Group 3 - Hong Kong's IPO market has rebounded strongly, with total fundraising exceeding 200 billion HKD for the first time in four years, reclaiming the top position globally [5][6] - Major IPOs from mainland companies have significantly contributed to this growth, with over 20 A-share companies expected to list in Hong Kong, raising more than 170 billion HKD [5][6] - The dual engines of new consumption and hard technology are driving the growth of Hong Kong IPOs, supported by favorable policies that facilitate the listing process for tech companies [6]