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Yao Shangkun, the chairman of Guoxiong Capital, has stated that the Hong Kong capital market is embarking on a fresh phase of bidirectional recovery. As of May 14, 21 companies have successfully listed on the Hong Kong stock exchange this year, collectively raising HK$23.472 billion, marking a 40% year-on-year increase. Notably, the actual fundraising amount has surged nearly threefold. Among these listings, CATL stands out as the largest IPO of the year, raising an impressive HK$31 billion. Additionally, the Green Tea Group has raised HK$1.21 billion and is poised for listing. Yao Shangkun attributes this market recovery to three pivotal factors: advancements in Chinese AI technology, bolstering market confidence; the Federal Reserve's interest rate cuts, enhancing liquidity; and the positive impact of reducing the first-day price break rate of new shares to 28%.
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