Chinese A-share high-quality companies have set off a wave of listing in Hong Kong, and the premium of AH shares continues to narrow.

In the first quarter, the Hong Kong stock market surged to the top spot globally with IPO fundraising amounting to 109.26 billion Hong Kong dollars. Among them, 15 "A+H" companies such as Muyuan Shares, Dongpeng Beverage, and Lanqi Technology went public in Hong Kong, contributing over half of the IPO funds to the Hong Kong stock market. Currently, there is a trend of high-quality A-share companies going public in Hong Kong, which is quietly reshaping the pricing logic of A+H shares. The Hang Seng Shanghai-Hong Kong Stock Connect AH premium index has been continuously declining, with most trading days below 120 points since the beginning of this year, and even hitting a near 8-year low in February. Industry insiders analyze that the shrinking AH premium indicates the acceleration of the global fund's pricing logic reconstruction for high-quality Chinese assets.