Recently, during the 9th China International Import Expo, PricewaterhouseCoopers Capital Markets Partner Li Huiting analyzed the current structural changes in the Hong Kong stock IPO market, indicating that technology companies have become the main force in Hong Kong stock IPOs, and this trend will continue in 2027. She said there are two reasons behind this. First, China's technology industry has entered a new capital market cycle. Technology companies have extended from traditional Internet platforms to fields such as artificial intelligence, semiconductors, robotics, intelligent driving, new energy, low-altitude economy, and space technology. Technology companies invest heavily in R&D and iterate rapidly, and require a large amount of long-term capital to promote commercialization and internationalization. IPOs are not only a financing tool, but also an important platform to support companies entering the next stage of growth. Overseas listings are still a strategic option for technology companies. Second, Hong Kong's listing system is increasingly capable of accepting new economy enterprises. The 18C system of the Hong Kong Stock Exchange provides listing channels for specialty technology companies, covering fields such as next-generation information technology, advanced hardware and software, and new energy sources. Hong Kong has developed an ecosystem that fully supports the listing of technology companies. The inclusiveness of the Hong Kong market is very important for companies that are still at a high stage of R&D investment and do not necessarily meet traditional profit standards. The Hong Kong IPO market is being further absorbed by traditional financing centers, and it is expected that more technology companies will choose to go public in Hong Kong in the future.

Recently, during the 9th China International Import Expo, PricewaterhouseCoopers Capital Markets Partner Li Huiting analyzed the current structural changes in the Hong Kong stock IPO market, indicating that technology companies have become the main force in Hong Kong stock IPOs, and this trend will continue in 2027. She said there are two reasons behind this. First, China's technology industry has entered a new capital market cycle. Technology companies have extended from traditional Internet platforms to fields such as artificial intelligence, semiconductors, robotics, intelligent driving, new energy, low-altitude economy, and space technology. Technology companies invest heavily in R&D and iterate rapidly, and require a large amount of long-term capital to promote commercialization and internationalization. IPOs are not only a financing tool, but also an important platform to support companies entering the next stage of growth. Overseas listings are still a strategic option for technology companies. Second, Hong Kong's listing system is increasingly capable of accepting new economy enterprises. The 18C system of the Hong Kong Stock Exchange provides listing channels for specialty technology companies, covering fields such as next-generation information technology, advanced hardware and software, and new energy sources. Hong Kong has developed an ecosystem that fully supports the listing of technology companies. The inclusiveness of the Hong Kong market is very important for companies that are still at a high stage of R&D investment and do not necessarily meet traditional profit standards. The Hong Kong IPO market is being further absorbed by traditional financing centers, and it is expected that more technology companies will choose to go public in Hong Kong in the future.