HKEX: 10 Companies Listed via Chapter 18C in First Five Months of This Year, Raising Over HK$25 Billion
Taylor Wilson
HKEX CEO Bonnie Chan disclosed that 10 specialist-technology companies listed under Chapter 18C in the first five months of 2025, raising a combined HK$25 billion-plus — the fast-track route for pre-profit tech firms is becoming Hong Kong's core pitch to global innovators.
What is Chapter 18C — and why does it matter?
Chapter 18C — a listing pathway HKEX created specifically for tech companies that have not yet met traditional profit thresholds. In plain terms = you don't need to be profitable first; credible technology and commercial prospects are enough to list in Hong Kong.
This means → HKEX is competing head-to-head with Nasdaq and Shanghai's STAR Market for the same pool of companies: robotics, autonomous driving, AI, and commercial aerospace.
Chan unveiled the numbers at the 2026 HKEX Future Tech Summit, with a clear message — this pathway is no longer theoretical; it has delivered.
What do the first five months tell us?
10 companies, HK$25 billion-plus, spanning robotics, autonomous driving, artificial intelligence, and aerospace.
This means → Chapter 18C has moved from policy blueprint to live deal flow. Each listing raised roughly HK$2.5 billion on average — a meaningful ticket size.
This reflects continued willingness among international investors to back frontier technology bets — even when most of these companies are still pre-profit.
Can the pipeline keep growing?
Chan herself flagged the key question: whether HK$25 billion can scale further depends on Chapter 18C proving itself across more niche tech sectors.
In plain terms = the wins so far cluster in a few hot sectors; the pathway only proves durable if it works for less-hyped but high-potential fields too.
HKEX's stated strategy is clear: broaden the ecosystem and expand coverage, pushing "specialist technology" beyond a handful of star sectors into a wider innovation landscape.
Content is for reference only, not financial advice.