Chinese start-up X Square Robot has confidentially filed for a Hong Kong IPO, tapping Huatai Securities and Morgan Stanley as sponsors amid a wave of domestic robotics listings.
Shein secured Beijing's approval for a Hong Kong IPO, but faces investor skepticism due to stalled growth, higher costs, and regulatory scrutiny. Its valuation is under pressure, dropping from nearly $100 billion in 2022, with analysts expecting a post-listing market cap in the high-$20 billion to low-$30 billion range.
Shein faces an FTC investigation, disclosed in Hong Kong IPO filings, with potential for 'material adverse' financial impact due to unspecified probe, amid its use of sales tactics like countdown timers, flagged by FTC as 'dark patterns'.
Zhongji buys back shares to stabilize prices before Hong Kong IPO, amid risk of onshore stock decline impacting offshore listing success.
San Diego-based Axiom Biosciences plans a "contrarian" Hong Kong IPO in 2027, followed by a 2029 U.S. listing, to access sophisticated biotech investors and Asian partners. This move contrasts with the traditional trend of Chinese firms listing in the U.S., highlighting Hong Kong's growing appeal as a biotech fundraising hub despite U.S. market depth.
Axiom Biosciences, a US-based biotech firm developing AI-powered therapies for newborn brain injuries, is targeting a US$200 million initial public offering (IPO) in Hong Kong by 2027, with a secondary listing in the US planned for 2029. CEO Remo Moomiaie-Qajar highlighted Hong Kong's mature market for healthcare listings.
Online retail giant Shein has received approval from China's CSRC to pursue an IPO in Hong Kong, planning to issue up to 341.6 million shares. Previous IPO attempts in New York and London were stalled due to regulatory scrutiny.
Luxshare Precision Industry, a major Apple supplier, saw its shares end lower on their Hong Kong trading debut Thursday, despite raising $3.09 billion in its IPO, the largest this year. The stock closed down 1.55% after opening lower.
Chinese lithography firm CFMEE plans a Hong Kong IPO next week, aiming to raise up to $410 million to fund strategic investments, R&D, and capacity expansion as China pursues semiconductor self-sufficiency.
Kunlunxin, the artificial intelligence chip unit of Chinese tech giant Baidu, is seeking a valuation of at least 100 billion yuan (US$14.69 billion) for its Hong Kong stock exchange listing, according to two people familiar with the matter. The valuation could change based on market conditions and final terms, according to one of the sources, who requested anonymity as the information was private. Baidu and Kunlunxin did not immediately respond to a request for comment on Friday. Separately,...
Kunlunxin, the artificial intelligence chip unit of Chinese tech giant Baidu, is seeking a valuation of at least 100 billion yuan (US$14.6 billion) for its Hong Kong stock exchange listing, according to two people familiar with the matter. The valuation could change based on market conditions and final terms, according to one of the sources, who requested anonymity as the information was private. Baidu and Kunlunxin did not immediately respond to a request for comment on Friday. Separately,...
Lightelligence, the first mainland Chinese photonics chipmaker to go public in Hong Kong, saw its shares surge nearly 400% on debut, opening at HK$880 versus an offer price of HK$183.20. The company raised HK$2.4 billion ($306 million) in its IPO and closed at HK$886, valuing it at HK$81.5 billion. The oversubscribed listing reflects investor appetite for photonics chips as an alternative to conventional semiconductors for AI data centres.
Sungrow Power Supply has refiled for a Hong Kong listing, reviving plans after its October application lapsed. The solar inverter and energy storage maker, which holds over 25% global market share, joins a wave of mainland companies submitting IPO documents to Hong Kong, signalling renewed activity in the city's IPO pipeline.
Hong Kong has raised more than HK$140 billion (US$17.87 billion) in IPOs as of April, maintaining its position as the world's top fundraising hub. Financial Secretary Paul Chan said average daily turnover exceeded HK$280 billion since March. However, industry experts warn Hong Kong could lose its lead to the US this year due to expected mega IPOs from companies like OpenAI and SpaceX.
Mainland Chinese insurers including Ping An, Taikang Life, New China Life, Dajia Life and China Post Life have invested over US$250 million across about 11 Hong Kong IPOs in 2026, reaching 75% of last year's US$333 million total. UBS attributes the surge to China's low rate environment and government push for insurers to become patient capital.
Manycore Tech, a design software developer hailed as one of Hangzhou’s “Six Little Dragons”, made its trading debut in Hong Kong on Friday, with shares rising 172 per cent at the open, as the company positions itself at the intersection of artificial intelligence and the physical world. The stock opened at HK$20.70, surging 172 per cent from its HK$7.62 offer price before ending the day at HK$18.60, up 144 per cent. The firm raised HK$1.09 billion (US$160 million) from its initial public...
