UBS: It is expected that Hong Kong's new stock financing scale will regain the top spot globally this year, and the amount of new stock fundraising next year will exceed HK$300 billion.

Lizhenguo, Vice Chairman of the UBS Global Investment Bank and Co-Head of the Asia Corporate Clients Department, stated that this year, the amount of funds raised in the Hong Kong IPO market has reached 2.1 times the total for the entire year of 2024. He also predicted that the Hong Kong Stock Exchange will regain the top spot in terms of IPO financing size in 2025, with an expected IPO fundraising amount of over HK$300 billion next year. He further pointed out that the trading volume of placements and convertible bond products has also experienced significant growth compared to the previous year. Many large blue-chip companies such as BYD Company Limited (01211), Xiaomi (01810), Alibaba (09988), China Pacific Insurance (02601), Ping An Insurance, CHOW TAI FOOK Jewelry (01929), and NIO (09866) have all completed large Hong Kong stock transactions exceeding US$1 billion. He mentioned that the primary market in the Hong Kong stock market is showing a strong recovery trend, with many highly influential companies actively responding to the strategic call for national development to support the development of the Hong Kong capital market and promote large-scale financing projects. Among them, Contemporary Amperex Technology (03750) raised US$5.3 billion in its IPO, becoming the largest IPO globally since 2023, and also led to several leading companies such as Zijin Mining Group (02259), Sany Heavy Industry (06031), Chongqing Sokon Industry Group Stock (09927), Jiangsu Hengrui Pharmaceuticals (01276), Zhejiang Sanhua Intelligent Controls (02050), Foshan Haitian Flavouring and Food (03288), and CHERY AUTO (09973) completing fundraising exceeding US$1 billion, occupying four spots in the top ten largest IPOs globally.