This week, three more companies received approval for Hong Kong IPOs, including A-share companies Beijing Junzheng and Sifang Jingchuang.
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This week, 10 new companies completed their domestic IPO preparatory filings, with the semiconductor sector accounting for three of them.
Mars Finance reported on July 5th that, according to information disclosed on the China Securities Regulatory Commission (CSRC) website, 10 new companies received domestic IPO guidance filings this week (June 29th to July 5th). These companies are Zhejiang Deste New Materials, Qingdao Haisenlin Hair Products, Jiangsu Jingying New Materials, Wuxi Kenuowei New Energy, Jiangsu Yingneng Microelectronics, Zhejiang Yitaino Technology, Shengdake Semiconductor Technology (Shanghai), Nanjing Liancheng Technology, Sichuan Aidiweixin Biopharmaceutical, and Zheta Information Group. Three of these companies are in the semiconductor field. Shengdake Semiconductor is a semiconductor testing equipment manufacturer, backed by Hillhouse Capital and SMIC Capital. It previously signed a guidance agreement in 2022 but did not submit its application materials; this time it has restarted the process. Zheta Information is targeting domestic substitution of semiconductor CIM systems, while Yingneng Microelectronics focuses on power and analog ICs; both are first-time applicants. Four other companies are also applying for IPOs for the first time. Jingying New Materials mainly produces N-methylaniline, a core raw material for gasoline antiknock agents; Kenuowei focuses on new energy thermal management and components; Yitainuo is a national-level specialized and innovative "little giant" in the field of industrial automation pneumatic components; and Liancheng Technology is a provider of centralized network security management technology. The other three companies all have previous unsuccessful IPO experiences. PVB membrane manufacturer Deste applied for listing on the ChiNext/STAR Market three times in 2019, 2020, and 2023 without success; wig supplier Haisenlin terminated its IPO guidance twice, in 2023 and 2025; and vaccine R&D manufacturer Advaccine submitted its application for listing on the Hong Kong Stock Exchange's main board in April 2021, but has not yet made progress. (Science and Technology Treasure Broadcast) (Consumer Research Institute)
22 companies filed for Hong Kong Stock Exchange listings in one week: AI semiconductor supply chain dominates the headlines, with star companies like Avita among them.
Mars Finance reported on July 5th that, according to disclosures by the Hong Kong Stock Exchange (HKEX), from June 29th to July 4th, a total of 22 companies submitted IPO prospectuses to the HKEX, including Shengwei Times, Liante Technology, Shengjing Network, Yangtuo Holdings Inc., Longxun Semiconductor, Haote Energy Saving, Tongao Testing, Daotong Technology, Keli Limited, Avita, Wubo Technology, Jiaxuan Intelligent, Oulin Biotechnology, Yuanhai International, Silicon-based Flow, Huaneng Design Institute, Senyi Intelligent, Joint Stock Company National Company Kazakhstan Temir Zholy, Liding Semiconductor, Jingze Biotechnology, Hongxinyu, and Jingwang Electronics. Among the 22 companies that submitted their prospectuses, 5 A-share listed companies simultaneously applied to the HKEX, triggering a new wave of "A+H" dual listings. Among them, Jingwang Electronics leads with a market capitalization of 70.949 billion yuan. This leading PCB manufacturer's revenue exceeded 10 billion yuan each year from 2023 to 2025, with a compound annual growth rate of 46% in profits over three years. The company has significant related-party transactions with Luxshare Precision, and the demand for PCBs driven by AI computing power is its core growth logic. Liante Technology is a leading optical module manufacturer from Wuhan and one of the few global suppliers with vertical integration capabilities for 800G/1.6T optical modules, with a latest market capitalization of 38.764 billion yuan. Daotong Technology, Orin Biotech, and Longxun Semiconductor are from the automotive intelligent diagnostics, human vaccines, and high-speed video chips sub-sectors, respectively, and are all star companies on the Science and Technology Innovation Board, with latest market capitalizations of 17.418 billion yuan, 17.319 billion yuan, and 11.562 billion yuan, respectively. All three companies appeared as "spin-off subsidiaries." Wubo Technology is a smart logistics supply chain service provider for ferrous bulk commodities under Yankuang Energy. Based on 2025 Gross Transaction Value (GTV), it is the largest smart logistics platform in China's steel and metallurgical industry. Tongao Testing, spun off from the Hong Kong-listed Anton Oilfield Services, ranks second among professional testing institutions in China's oil and gas industry's integrated TIC solutions market and is a leading independent oil and gas testing TIC service provider. Liding Semiconductor, backed by global PCB leader Zhen Ding-KY, mainly produces high-end IC substrates such as FCBGA and FCCSP. Based on 2025 revenue, it ranks third among IC substrate manufacturers in mainland China. Of the 22 companies, AI and semiconductor-related companies account for nearly half. From upstream chip design (Longxun Semiconductor), memory (Hongxinyu), and IC substrates (Liding Semiconductor), to midstream optical modules (Liantech) and PCBs (Jingwang Electronics), and then to AI infrastructure (Silicon-based Flow), the entire AI industry chain is represented. Among them, Silicon-based Flow has applied for listing under the Hong Kong Stock Exchange's Chapter 18C Special Technology Companies Rules. Established only 34 months ago, its valuation has increased more than 33 times in three years, reaching a latest valuation of 7.74 billion yuan. Alibaba, Huawei, Meituan, and Innovation Works are all shareholders. This time, it aims to become the first "AI Token Factory" listed in Hong Kong. Hongxinyu's revenue exceeded US$1 billion and net profit exceeded US$500 million in the first four months of 2026, representing a more than 30-fold increase in net profit. Based on 2025 revenue, it will be the fifth largest independent memory manufacturer globally and the second largest in mainland China. Multiple high-profile targets from various sectors are simultaneously emerging. In the new energy sector, Avita is a rare Hong Kong IPO target in the domestic high-end new energy vehicle field. The company is jointly established by Changan Automobile, CATL, and Huawei. It achieved operating revenue of 5.645 billion yuan, 15.2 billion yuan, and 25.6 billion yuan in 2023, 2024, and 2025 respectively, achieving a leapfrog growth in revenue over three years; however, its losses are also increasing, accumulating to approximately 11.2 billion yuan over three years. In the AI healthcare field, Senyi Intelligent, as China's largest provider of intelligent hospital healthcare solutions, has served over 800 hospitals. Its shareholders include Tencent, Sequoia Capital, and IDG. Meanwhile, Kazakhstan Railways, controlled by Kazakhstan's sovereign wealth fund, is a state-owned transportation and logistics giant operating a vital land transport corridor connecting Central Asia with China and Europe. Its IPO in Hong Kong, as a key infrastructure company in a Belt and Road Initiative country, has attracted widespread market attention. (Science and Technology Treasure News)
Google Admits Gemini AI Hacked Three Companies—It Stayed Silent for 7 Weeks
Google learned in late July that Gemini had breached three real companies during a May security test, but said nothing publicly for seven weeks.
Mirae Asset's Hong Kong branch will launch a tokenized asset trading platform within three years, initially targeting Hong Kong clients.
According to a report by Straight News, Mirae Asset's Hong Kong branch plans to launch a tokenized asset trading platform within the next three years. This platform aims to convert existing investment assets and traditional financial assets into tokens for clients to trade. The company has recently expanded its business based on its newly launched trading platform, MAPS (Mirae Asset Portfolio Service), striving to transform from institutional business to a client-centric platform. Initially targeting Hong Kong clients, the platform's long-term goal is to establish a cross-regional trading architecture connecting South Korea and overseas markets.
Hong Kong Stocks Midday Review: Hang Seng Index down 0.42%, Samsung concerns drag down memory semiconductors.
Mars Finance reported on July 7th that Hong Kong's three major stock indices rose in the morning but then continued to decline. By midday, the Hang Seng Index and the H-share Index were both down 0.42%, while the Hang Seng Tech Index fell 0.28%. The performance of heavyweight tech stocks, which had been rebounding , long. Kuaishou plummeted over 9%, JD.com fell over 1%, Meituan rose over 4%, and Tencent rose nearly 3%. Samsung's surged profits could not mask underlying concerns, leading to a sharp decline in memory semiconductor stocks. Southern Securities' double- long positions in Hynix and Samsung Electronics both plummeted over 19%, Montage Technology fell over 10%, and GigaDevice fell over 8%. PCB concept stocks, gold stocks, and photovoltaic stocks all fell; mobile game stocks and AI application concept stocks bucked the trend and were active. (TechStock Treasure Broadcast)
Hong Kong Stock Exchange's USD gold futures trading volume hit a record high
According to Odaily, the Hong Kong Stock Exchange announced that a record 6,676 contracts were traded in the daytime trading session for US dollar gold futures, surpassing the previous record of 3,039 contracts set on November 7, 2022. The bid-ask spread for the most active month contracts narrowed to one to two ticks, with the August contract as low as $0.01 (one tick) and the December contract as low as two ticks. The Hong Kong Stock Exchange (HKEX) continues to introduce optimization measures for its US dollar gold futures contracts, attracting active participation from various market participants, including banks, securities firms, high-frequency trading institutions, traders, gold producers, and consumer companies. This is an important step in HKEX's strategy to improve its gold product portfolio and deepen its diversified asset ecosystem, further supporting Hong Kong's development into a leading international gold trading and storage center. (HKEX)