A+H dual listing has become an important capital pathway, with hard-tech companies as the main force.

Since the beginning of this year, a number of A-share listed companies have pursued listings in Hong Kong. According to Wind data, as of now, 38 A-share companies have listed on the Hong Kong Stock Exchange during the year, double the number for the whole of last year; together they raised HK$261.231 billion, accounting for 67.75% of total Hong Kong IPO fundraising over the same period, marking "A+H" as an important capital pathway for A-share listed companies. Experts interviewed by reporters generally believe that the wave of A-share listed companies going public in Hong Kong this year is mainly driven by a combination of three forces: policy dividends, market appeal, and corporate strategy. Among the A-share listed companies that have listed in Hong Kong this year, hard-tech companies in fields such as AI computing power and semiconductors have become the main force. Among them, optical communications leader Zhongji Innolight Co., Ltd. set a new record for Hong Kong IPO fundraising since Alibaba's return to Hong Kong in 2019, with an initial public offering size of HK$61.422 billion. Fu Yifu, a specially appointed researcher at Suning Bank, said that hard-tech leading enterprises seeking "A+H" listings mainly value Hong Kong's value as a platform connecting global capital and hope to bring in overseas sovereign funds and long-term institutions to optimize their shareholder structure.