Since 2026, propelled by the inclusive reforms of the A-share registration system, sci-tech innovation enterprises specializing in artificial intelligence and innovative drugs, which are currently listed in Hong Kong, have been actively seeking opportunities to return to the A-share market for listing. Presently, over 10 companies listed in Hong Kong have embarked on the process of applying for an A-share IPO or undergoing listing guidance (coaching/tutoring). Notably, the majority of these firms, including EverBot Technology, Zhipu, MiniMax, and DualityBio, have not yet achieved profitability.

The implementation of the '1+6' reform for the Sci-Tech Innovation Board, coupled with the introduction of the fourth set of listing standards for the Growth Enterprise Market, has paved a compliant path for these unprofitable Hong Kong-listed enterprises to make their way back to the A-share market. This strategic move not only aids sci-tech innovation enterprises in striking a balance between international financing and in-depth engagement with the mainland market but also fosters deeper integration of market regulations, valuation frameworks, and information disclosure practices across the Shanghai, Shenzhen, and Hong Kong markets.