Hong Kong Listing IPO Inventory Abundant, More Than 400 Companies Waiting to Go Public

The backup team for Hong Kong stock IPOs continues to expand, with the Stock Exchange of Hong Kong (HKEX) currently accumulating a sufficient reserve of listing projects, and the market financing热度 remains stable. As of now, there are 416 enterprises in the process of promoting their listings at HKEX, with the attraction of capital market continuously highlighting. From the perspective of approval progress, the current queue of enterprises has a clear hierarchy. Excluding confidentially filed applications, 410 enterprises have their listing applications being processed, and another 6 enterprises have completed their hearings, only a step away from going public. Market analysis believes that the large pool of under-review projects directly reflects the recognition of the Hong Kong stock market's regulatory environment, liquidity, and long-term development value by domestic and foreign issuers, with the industry's desire to go public continuing to heat up. **High申报 enthusiasm for new economy enterprises** Hong Kong stocks continue to play a role in attracting new economy enterprises by differentiating the listing rules for sci-tech enterprises, becoming an important channel for these businesses to enter the capital market. Among the enterprises in line this time, there are 57 enterprises applying based on exclusive listing rules for biotechnology and specialized technology. Compared with traditional listing standards, the Hong Kong stock listing rules for sci-tech innovation are more in line with the development characteristics of innovative enterprises. Sci-tech enterprises that are unprofitable or have no revenue can also apply in compliance. This mechanism continues to attract quality subjects in the fields of hard-core technology and bio-pharmaceuticals into the game. The concentrated declaration of sci-tech enterprises further optimizes the structure of listed companies in Hong Kong stocks, helping the market to break free from dependence on traditional industries and continuously strengthen the basic color of the new economy industry. **A+H listing layout continues to heat up** In the current HKEX under-review projects, domestic enterprises occupy an important share, with over a hundred enterprises that have completed A-shares listing included in the reserve pool. The dense deployment of high-quality A-shares companies in the Hong Kong stock market has sparked a new round of cross-border listing enthusiasm. For companies listed on A-shares, landing on the Hong Kong stock can broaden financing channels, improve international capital layout, enhance brand international influence, and achieve dual capital market empowerment. A large number of mature domestic enterprises queuing to list in Hong Kong will also further enrich the supply of high-quality assets in Hong Kong stocks, improve market typology, and enhance the diversity and stability of overall market valuations. **The active degree of the Hong Kong stock IPO market is expected to continue** A sufficient and high-quality structural reserve project provides a solid support for the subsequent activity of the Hong Kong stock IPO market. The current queues of enterprises cover multiple fields, including the new economy and traditional entities, and the asset structure is more balanced. As the under-review projects are successively approved and listed, the asset scale of the Hong Kong stock market will continue to expand, and the liquidity and trading vitality of the market are expected to steadily increase. Overall, with its inclusive listing system and international market positioning, Hong Kong stocks continue to attract all kinds of high-quality enterprises to enter, and the long-term financing vitality and market competitiveness will continue to be consolidated.