Hong Kong Stock Exchange: AI is gradually developing into a deep listing sector in the Hong Kong market.

On June 9, the Hong Kong Stock Exchange issued a statement indicating that AI in the Hong Kong market has moved beyond the conceptual stage and is gradually evolving into a deep-listed sector. Many companies across various categories of the artificial intelligence (AI) value chain are consecutively listing in Hong Kong, bringing unprecedented opportunities to investors and positioning the market at the forefront of technology themes. Since early December last year, the total amount of funds raised through initial public offerings by AI value chain companies reached HK$97.9 billion (as of May 31, 2026), accounting for approximately 55% of the total market fundraising during the same period. The Hong Kong Stock Exchange stated that while one or two highly anticipated listings may attract temporary excitement, a large number of companies spanning platforms, applications, semiconductors, image sensors, Siasun Robot & Automation, AI software, and energy-related technologies are listing one after another, creating a more sustainable market ecosystem. This not only expands the market depth in this field but also allows investors to invest in a thematic sector rather than a few unrelated companies. Macro market conditions are one of the factors driving market transformation. As of the end of May 2026, there were a total of 62 new companies listed in Hong Kong (compared to 29 during the same period in 2025), raising a total of HK$166.8 billion (compared to HK$77.7 billion in 2025), leading the global market for new listings. The robust trading further fuels this momentum. By the end of May 2026, the average daily trading volume in the stock market reached HK$275.3 billion, a year-on-year increase of 13.6%; the total market value by the end of May was HK$47.1 trillion, a 15% increase from the previous year. Additionally, the performance of AI and TMT (technology, media, and telecommunications) sector companies after listing has been very strong. According to data from Dealogic and Bloomberg (as of March 31), in the first quarter of 2026, TMT issuers saw a stock price increase of 30.3% one month after listing. These data reflect the reasons why innovative companies favor the Hong Kong market: when market conditions are ripe, not only can it attract a new generation of issuers, but it can also provide ongoing support after their listing. HKEX has optimized the listing framework to help innovative issuers enter the public market. Chapter 18C, introduced in March 2023, provides a special listing route for technology companies, including those in the new generation information technology and AI fields. These companies, which previously could not meet the requirements of traditional profitability, revenue, or cash flow, now have the opportunity to list on the main board under this mechanism if they are high potential but not profitable and focused on research and development. As of the end of March 2026, out of the 14 companies listed under Chapter 18C, 13 have elements of AI, and out of the 18 companies that have applied for listing under Chapter 18C, 16 also have AI elements, showing a high degree of alignment between Hong Kong's special technology listing system and the needs of AI value chain companies. HKEX has also implemented a series of listing optimization measures, including the introduction of the "Fast Track" for technology companies to simplify the listing application process, allowing qualifying issuers to choose to submit applications in confidentiality, as well as measures to improve listing efficiency and optimize price discovery. In addition, HKEX is preparing to launch more optimization measures: previous market consultations have recommended lowering market value thresholds and expanding the definition of "ShenZhen New Industries Biomedical Engineering companies", which are expected to attract more issuers in the AI and special technology sectors. Technological development progresses step by step, from infrastructure to platforms, and then towards intelligence; the industrial value also shifts and flows between various categories of the industry chain over time. Currently, there are 70 AI value chain companies with pending listing applications, indicating that the listing wave is still hot. The increasing number of companies from different categories of the value chain listing in Hong Kong signifies higher comparability within the industry and a more diverse range of innovative issuers in the market.