Group 1 - On May 27, Paige Biopharma-B listed on the Hong Kong Stock Exchange at a price of HKD 11.56, experiencing a significant drop of 25.90% by the end of the trading day, indicating market concerns over its valuation and growth prospects despite its focus on innovative therapies for chronic diseases [1] - Muyuan Foods submitted a listing application to the Hong Kong Stock Exchange on May 27, positioning itself as a global leader in the pig farming industry with a complete industry chain covering breeding, farming, feed production, slaughtering, and meat processing, and has been the world's largest pig producer for four consecutive years [2] - Zijin Mining announced plans to spin off its subsidiary, Zijin Gold International, for a listing on the Hong Kong Stock Exchange, which involves restructuring and integrating several overseas gold mining assets, enhancing its market competitiveness and global resource layout [3] - Shanghai Topway CNC Technology Co., Ltd. submitted an IPO prospectus to the Hong Kong Stock Exchange on May 26, focusing on high-end intelligent manufacturing equipment, particularly five-axis CNC machine tools, with projected revenues of CNY 136 million, CNY 335 million, and CNY 532 million for 2022, 2023, and 2024 respectively [4] Group 2 - The Hang Seng Index closed at 23,381.99 with a gain of 0.43% on May 27, while the Hang Seng Tech Index and the National Enterprises Index also saw increases of 0.48% and 0.38% respectively [5]

Group 1: Hong Kong IPO Market - The Hong Kong IPO market continues to thrive with four companies currently in the process of going public, including Pagoda Biotech and Jihong Technology [1] - The listing of CATL on May 20 is the largest IPO globally this year, contributing to a total fundraising amount exceeding HKD 60 billion, which is over six times the amount from the same period last year [1] - The Hong Kong government reports that the IPO market is robust, with the fundraising scale currently leading globally [1] Group 2: Pagoda Biotech - Pagoda Biotech plans to globally offer 19.2835 million H-shares at a price of HKD 15.6 per share, aiming to raise approximately HKD 301 million [1] - The company focuses on innovative therapies for chronic diseases, particularly in the field of metabolic disorders [2] Group 3: Jihong Technology - Jihong Technology plans to globally offer 67.91 million H-shares with a price range between HKD 7.48 and HKD 10.68, targeting a maximum fundraising of approximately HKD 725 million [2] - The company is recognized as the first A+H share in AI-driven cross-border social e-commerce, providing comprehensive packaging solutions for fast-moving consumer goods [2] Group 4: MIRXES - MIRXES is set to launch its IPO from May 15 to May 20, with plans to offer 46.62 million shares at HKD 23.30 each, aiming to raise up to HKD 1.086 billion [2] - The company specializes in RNA technology for disease screening and diagnostics, focusing on non-invasive blood-based tests for early disease detection [3] Group 5: Heng Rui Pharmaceutical - Heng Rui Pharmaceutical has initiated its global IPO, planning to issue nearly 225 million H-shares with a price range of HKD 41.45 to HKD 44.05, targeting a maximum fundraising of HKD 13 billion [3][4] - The company has attracted several top-tier institutional investors, securing a total of USD 533 million in cornerstone investments [4]