Group 1 - Seven IPOs and six SPACs were priced this week, indicating a robust activity in the capital markets [2] - Veradermics, a biotech company focused on hair loss, successfully priced its upsized IPO above the expected range, raising $256 million at a valuation of $612 million [2]

据华谊信资本数据统计，截至1月31日，全月共有13家企业（含GEM）在港交所挂牌上市，较去年同期增加5家，增幅显著；IPO募资总额达392.55亿港元， 同比暴涨556.22%，时隔6年之后，香港重登全球IPO募资榜首，也彰显出港股市场的强大吸引力与活力。 1、港股新股IPO名单 据华谊信资本统计1月上市公司及募资情况如下： 华谊信资本 | 港股IPO | 港美股上市 | 境外IPO | 港美股数据统计 | SPAC上市 2026年伊始，港股IPO市场亮点纷呈、前景乐观。不仅达成全月新股零破发的亮眼成绩，更借助硬科技企业的密集上市与国际资本的踊跃布局，持续夯实其 全球新经济企业核心融资平台的行业地位，为2026年港股IPO市场的持续活跃筑牢根基。 本文华谊信将从募资规模、行业分布、地域特征等多维度出发，对本月境外IPO市场表现进行全面汇总与深度解析。 | 申請狀況 ① | | 主板 | | --- | --- | --- | | | | (於2026年1月30日) | | 1. | 已上市(2) | 12 | | 2. | 已獲上市委員會批准,待上市 | 26 | | 3. | 處理中 | 408 | | 4 ...

As filed with the Securities and Exchange Commission on January 30, 2026 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ––––––––––––––––––––––––––––––––––––––– FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ––––––––––––––––––––––––––––––––––––––– Iron Dome Acquisition I Corp. (Exact name of registrant as specified in its charter) ––––––––––––––––––––––––––––––––––––––– | Cayman Islands | 6770 | N/A | | --- | --- | --- | | (State or other juris ...

Core Insights - FG Nexus Inc. has been recognized as the top-performing SPAC sponsor by median returns and second by average returns according to a study by EarlyBirdCapital [1] Group 1: Company Leadership and Expertise - Under the leadership of Larry Swets and partners, FG Nexus has established a strong track record in the SPAC ecosystem, with nearly 20 years of experience [2] - The leadership team has collectively sponsored, served as officers, or advised 10 SPACs, successfully completing multiple business combinations while maintaining a disciplined approach [2][3] Group 2: SPAC Market Evolution and Strategy - The SPAC market has evolved significantly, and FG Nexus's experience across the lifecycle of these transactions provides a unique perspective [3] - The company's SPAC platform is integral to its broader investment strategy, focusing on growth-stage businesses in sectors like insurance and financial services [3] Group 3: Commitment to Quality and Long-term Value - FG Nexus emphasizes quality over quantity in SPAC sponsorship, aiming to bring operational capabilities and patient capital to high-quality businesses [4] - The company's approach prioritizes rigorous due diligence and operational transformation, aligning with its mission to build accountable public enterprises [4] Group 4: Future Plans and Digital Asset Strategy - FG Nexus is focused on building a digital asset treasury and a platform for tokenizing real-world assets, intending to enhance treasury yield through various strategies [5]

北京时间2026年1月22日，北京中喜文化传媒有限公司向美国证券交易委员会重新递交了上市申请，募资额大幅提升至约1875万美元，这标志着中概股赴美 上市的融资策略正在发生微妙变化。 2026年1月23日，搜狐报道称，中喜文化重新向美国SEC递交上市申请，拟以每股4至5美元发行375万股。而在此前的招股书中，该公司仅计划发行125万 股。 中喜文化的策略转变并非孤例。自2025年以来，美国市场对中国企业的态度发生了深刻变化，赴美上市规则正在全面收紧。 截至2025年上半年，中喜文化营收为1676万美元，净利润238万美元，主要股东包括冯彬和何晓云等人。其业务范围横跨传统电视节目发行和智能设备投屏 广告代理。 中喜文化并非唯一在2025年下半年调整IPO策略的中国企业。东方财富网报道称，当年6月13日以来，共有金特安、中喜文化、网塑科技等11家中企更新了 招股书。 从这些企业的募资规模看，多集中在500万至1500万美元区间。值得注意的是，当时中喜文化仍计划发行125万股，募资500万至625万美元。 这一波中概股赴美上市潮与2024年形成了鲜明对比。富途发布的2025年上半年IPO报告指出，2024年中国企业赴 ...

证券研究报告 海外策略周报： 地缘风险叠加财报密集期，美股波动或放大 证券分析师 陈骁 投资咨询资格编号：S1060516070001、BWH863 校星 投资咨询资格编号：S1060525120003 2026年1月25日 请务必阅读正文后免责条款 1 ※ 核心观点 | | | PCE价格数据（单位：%） | | 较上期变化 | 25/11 | 25/10 | 25/09 | 25/08 | 25/07 | 25/06 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | PCE | | ▲ | 0.1 | 2.8 | 2.7 | 2.8 | 2.8 | 2.6 | 2.6 | | | 食 品 | | ▼ | -0.3 | 1.9 | 2.2 | 2.4 | 2.2 | 1.8 | 2.0 | | | 能 源 | | ▲ | 1.9 | 4.1 | 2.2 | 2.7 | -0.1 | -1.9 | -1.3 | | | 核 心PCE | | ▲ | 0.1 | 2.8 | 2.7 | 2.8 | 2.9 | 2. ...

As filed with the Securities and Exchange Commission on January 20, 2026 Registration No. 333-290947 RF Acquisition Corp III (Exact name of registrant as specified in its charter) Cayman Islands 6770 N/A (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (I.R.S. Employer Identification Number) RF Acquisition Corp ...

SoFi stock (SOFI), which rose 70% last year and has outperformed markets for the last three consecutive years, is slightly underperforming the S&P 500 Index ($SPX) this year. The stock has lost 1.4% over the previous three months and trades nearly 20% below its all-time high, which it reached in mid-November. The fintech giant is set to release its Q4 2025 earnings on Jan. 30. Let's explore whether the confessional would help turn the tide for SoFi, which is among the rare success stories in the former s ...

Core Insights - The article reviews the evolution of backdoor listings in Hong Kong over the past 40 years, categorizing it into three phases: early exploration, regulatory games, and comprehensive tightening. The traditional "buy shell - inject capital" model ended after the new regulations in 2019 [2][3]. Group 1: Definition and Structure of Backdoor Listings - Backdoor listing is described as a capital activity where a non-listed company acquires control of a listed company (shell company) to achieve indirect public listing by injecting its business and assets [4]. - The transaction process of backdoor listings typically involves two key stages: obtaining control and asset injection and restructuring [4][6]. - The concept of "reverse takeover" (RTO) is clarified as a method where a non-listed company injects assets into a listed shell company to gain control, which is a core regulatory focus in Hong Kong [8][9]. Group 2: Historical Evolution of Backdoor Listings - The first phase (1984-2003) was characterized by strong financing demand and a lack of clear regulatory frameworks, leading to the emergence of backdoor listings as a quicker alternative for mainland companies to access international capital [13][14]. - The second phase (2004-2018) saw increased regulatory scrutiny due to frequent backdoor activities, leading to the introduction of the "bright-line test" in 2004, which established clear thresholds for transactions that would be classified as reverse takeovers [15][16]. - The third phase (2019-present) marked a significant tightening of regulations with the introduction of the "most stringent" new rules aimed at increasing costs and uncertainties associated with backdoor listings, effectively aligning them with IPO standards [17][18][19]. Group 3: Market Changes Post-New Regulations - From 2019 to 2025, the backdoor listing market has undergone structural changes due to high regulatory pressure, global liquidity tightening, and macroeconomic cycles, transforming backdoor listings into high-cost industrial acquisition methods [21]. - The number of transactions classified as reverse takeovers surged from 6 in the first nine months of 2019 to 18 in the following year, with most being terminated due to non-compliance with new regulations [22]. - The value of shell companies has drastically decreased, with prices dropping from 600-650 million HKD to 150-250 million HKD by 2025, reflecting a significant loss of their function as a shortcut to listing [23]. Group 4: New Transaction Forms and Market Dynamics - The introduction of SPACs in 2022 aimed to provide a compliant alternative for backdoor listings, but high regulatory thresholds have limited their effectiveness, resulting in only a few successful cases [24]. - A new approach called "Long-stop Asset Injection" has emerged, where buyers maintain existing businesses for 36 months before conducting substantial operations, shifting the focus from financial speculation to long-term strategic investments [25]. - The intermediary landscape has shifted, with mainland Chinese securities firms gaining prominence in the backdoor and merger advisory sectors, reflecting the changing dynamics of the market [26]. Group 5: Regulatory Enforcement and Market Cleanup - Regulatory practices have intensified, with detailed inquiries for large asset injections and a significant increase in delistings, totaling over 230 companies from 2019 to 2025, indicating a strong push to eliminate "zombie stocks" [27].

Group 1 - One small IPO and three SPACs were priced this week, indicating ongoing activity in the public markets [2] - Eight IPOs were filed, including five sizable ones, suggesting a robust pipeline for upcoming public offerings [2] - Green Circle Decarbonize Technology (GCDT), a China-based thermal energy storage material producer, successfully priced its US IPO [2]