Hong Kong Stock Exchange
港交所
Hong Kong Exchanges and Clearing Limited operates the Hong Kong Stock Exchange, which has served as a major IPO venue for Chinese companies across multiple sectors. Per a 2024 Gaorong Ventures analysis, the exchange has drawn particularly strong interest from high-end manufacturing, consumer, TMT, and healthcare companies, with nearly 100 active A1 applications in the pipeline at that time . The market saw renewed momentum in 2025 following DeepSeek's emergence, which triggered a revaluation of Hong Kong-listed tech assets and opened windows for both new listings and follow-on offerings . Listing vehicles include the Main Board and specialized chapters such as 18A for biotech and 18C for specialty technology firms, with CICC analysts noting that the shift from "narrative-driven to fundamentals-driven" performance among AI and robotics listings would be critical to sustaining market depth into late 2025 and early 2026 . The exchange has also been a preferred destination for companies with global expansion capabilities, profit improvement trajectories, and clear sector leadership positions .
AI-generated — may contain errors, please verify.
Coverage
Will Chinese Concept Stocks Disappear?
Let's hope it doesn't happen.
暗涌Waves·A Team, an Email, and Thirteen Years of Zhaogang's Startup Journey
Crank the sensitivity up. For entrepreneurship, crank it even higher.
真格基金·Why Hong Kong Stocks Are Catching a Second Wind
A withered tree meets spring.
暗涌Waves·Li Xiaojia: Helping the Little Guy Is Helping Big Capital
His lessons, reflections, and conviction.
暗涌Waves·The Past and Future of ESG: From Dividing the Pie to Growing It | FreeS Research
A Complete Guide to ESG ESG — Environmental, Social, and Governance — has evolved from a niche investment framework into a mainstream lens for evaluating companies. Yet for many in China's tech and investment circles, it remains more buzzword than business practice. Here's what actually matters. **The Three Pillars** *Environmental* covers a company's carbon footprint, resource use, waste management, and broader ecological impact. For Chinese manufacturers, this increasingly means compliance with the EU's Carbon Border Adjustment Mechanism (CBAM) and domestic dual-carbon targets — not just greenwashing. *Social* encompasses labor practices, supply chain ethics, data privacy, and community relations. In China's context, this gets complicated fast: tech platforms face scrutiny over algorithmic labor management (think Meituan's delivery riders), while consumer brands navigate Xinjiang cotton controversies that can tank overseas sales overnight. *Governance* examines board structure, executive compensation, shareholder rights, and anti-corruption measures. For Chinese companies listing in the U.S. or Hong Kong, this includes VIE structure transparency
峰瑞资本·FreeS Fund Report 16: The Truth About Early-Stage Healthcare Investing and China Speed | Frees Fund
Is early-stage healthcare investment really as "high-cost, high-risk, slow-return" as they say?
峰瑞资本·
