【环球网财经综合报道】临近岁末，香港首次公开募股（IPO）市场的火热势头丝毫未减，行业普遍预期这股强劲活 力将至少延续至2026年。数据显示，今年前11个月，港股市场共有91家企业成功上市，得益于一系列大型IPO项目的 驱动，合计募集资金高达2598.89亿港元。这一数字不仅标志着港交所时隔四年，IPO筹资额再度突破2000亿港元大 关，更使其一举超越全球其他交易所，登顶2025年全球IPO募资额榜首，创下历史新高度。其中，宁德时代、紫金黄 金国际、三一重工和赛力斯等巨头均跻身今年全球十大IPO项目之列。 在这场资本盛宴中，中资券商的角色愈发举足轻重，已然占据港股IPO承销市场的主导地位。今年以来，共有38家保 荐机构参与香港新股发行，其中超过半数为中资背景。中金公司、中信证券和华泰证券强势占据承销榜单前三名，其 保荐项目数量显著领先于传统外资大行，重塑了市场格局。 五大特征勾勒市场全貌，巨量 IPO 与万倍认购同现 Wind数据揭示，2025年前11个月港股IPO市场呈现出五大鲜明特征。首先是大型IPO成为核心驱动力，且A股公司贡献 显著。年内已涌现1家募资超300亿港元及7家募资超100亿港元的大型项目， ...

Group 1 - The A-share IPO market in China showed steady improvement in the first half of the year, with a total of 50 companies going public and raising over 37.1 billion RMB, marking a 14% increase in both IPO quantity and fundraising compared to the previous year [1] - The industrial, technology, and materials sectors led in both the number of IPOs and the amount raised, with over 30% of the newly listed companies in the automotive industry, benefiting from policy support for transformation and innovation [1] - The report highlights a growing emphasis on "technology" within the A-share market, with regulatory bodies indicating stronger support for high-quality, unprofitable tech companies to go public, suggesting an accelerating release of institutional dividends for innovative enterprises [1] Group 2 - The North Exchange is evolving from a financing platform for small and micro enterprises to a gathering place for hard-tech companies, reflecting its increasing attractiveness to high-quality innovative SMEs [2] - Hong Kong's IPO activities have gained a larger share of the global market, accounting for 24% of total global fundraising, while combined with A-shares, they represent 33% of the global total [2] - Driven by large IPO projects, the Hong Kong Stock Exchange achieved a fundraising scale of 14 billion USD, ranking first globally [2]