Shenzhen Platinum New Materials Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange.
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Chinese storage unicorn Shenzhen Grand Semiconductor has submitted a listing application to the Hong Kong Stock Exchange.
According to BlockBeats, on July 3, Hong Kong Stock Exchange filings show that Shenzhen Hongxinyu Electronic Co., Ltd., a Chinese memory chip unicorn company, submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities International acting as the sole sponsor. The company plans to raise funds for product development, controller chip iteration, and capacity expansion. Shenzhen Hongxinyu Electronic Co., Ltd. (hereinafter referred to as "Hongxinyu") was founded in 2018 and is a rapidly rising independent Chinese memory chip manufacturer. It has become the fifth largest domestic manufacturer globally and the second largest in mainland China. Its main products include embedded memory (eMMC/UFS), solid-state drives (SSDs), mobile storage, and DRAM modules, which are widely used in consumer electronics, automotive electronics, AI/data centers, and other fields. Its products have entered the supply chains of Xiaomi, OPPO, vivo, TCL, and other companies, and have obtained automotive-grade certification. After its Series D financing in 2023, its post-investment valuation was approximately RMB 10.8 billion, with investors including TCL and Ting Hsin Group.
Shenzhen Jingwang Electronics Co., Ltd. has filed for listing on the Hong Kong Stock Exchange.
Mars Finance reported on July 3 that Shenzhen Jingwang Electronics Co., Ltd. submitted its listing application to the Hong Kong Stock Exchange, with CITIC Securities, Bank of America Securities, and Guolian Securities International acting as joint sponsors. (Science and Technology Treasure Broadcast)
Will China Resources New Energy complete its merger and reorganization to jointly pursue a Shenzhen Stock Exchange listing? China Government-Enterprise Cooperation Fund responds.
Mars Finance reported on July 8th that China Government-Enterprise Cooperation Investment Fund Co., Ltd. (hereinafter referred to as "China Government-Enterprise Cooperation Fund") recently issued a statement saying that the company has noticed a false report circulating online titled "China Resources New Energy Holdings Co., Ltd. and China Government-Enterprise Cooperation Investment Fund Co., Ltd. Complete Merger and Acquisition to Jointly Pursue Listing on the Shenzhen Stock Exchange." The report is entirely false information and seriously contradicts the company's actual situation. According to China Government-Enterprise Cooperation Fund, since its establishment, all of its business activities have strictly complied with national laws, regulations, and regulatory requirements, and it has never conducted or authorized any entity to conduct any activities mentioned in the aforementioned false report. The company is not currently planning any mergers and acquisitions, restructuring, listing applications, or other capital operations, nor has it formulated any corresponding implementation plans. China Government-Enterprise Cooperation Fund also stated that it reserves the right to pursue legal action against any entity that forges or alters the company's seals, business licenses, or authorization documents, or impersonates the company or its employees to release false information, engage in fraud, or commit any other illegal acts that infringe upon the company's legitimate rights and interests. (Wide Angle Observation)
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)
Shenzhen releases 15 AI application scenarios in government affairs.
According to Mars Finance, the Shenzhen Municipal Government Service and Data Management Bureau recently released the "List of Artificial Intelligence Application Scenarios in the Government Sector in 2026 (First Batch)". The list includes 15 application scenarios covering five major areas: decision support, government services, office work, urban governance, and public services. This reflects Shenzhen's commitment to building a pioneering city in artificial intelligence, using scenario-based approaches to continuously expand the breadth and depth of the integration of artificial intelligence and government affairs. It is understood that this year's list is planned to be released in three batches. The first batch of the list shows that in the field of decision support, several intelligent tools will effectively improve administrative efficiency and accuracy. The Shenzhen Emergency Management Bureau will build an AI-powered disaster evolution trend simulation system, coupled with a smart experience asset model library and intelligent graphic explanations of the simulation process, to shorten the cycle of situation simulation and decision-making response. The Shenzhen Water Resources Bureau will launch an intelligent system to assist in the review of soil and water conservation plans. The Shenzhen Finance Bureau's budget project filling intelligent assistance system aims to reduce error rates and alleviate the burden on users. The Shenzhen Construction and Public Works Bureau will use AI+RA technology to establish a risk assessment checklist before the renovation or use of existing buildings, achieving proactive risk identification, reduced feasibility study deviations, and accurate investment calculations. (Cailian Press)
This week, three more companies received approval for Hong Kong IPOs, including A-share companies Beijing Junzheng and Sifang Jingchuang.
According to information disclosed on the China Securities Regulatory Commission (CSRC) website on July 5th, three new companies received approval for overseas listing or full circulation of their unlisted shares this week (June 29th to July 5th), all listed on the Hong Kong Stock Exchange. Among them, Beijing Junzheng, a leading memory chip manufacturer, and Sifang Jingchuang, a fintech service provider, are already listed on the A-share market, with market capitalizations of RMB 125.5 billion and RMB 11 billion respectively. They plan to issue no more than 61.658 million and 67.8052 million shares respectively in their Hong Kong listing plans. Feishi Technology is an electric drive solutions provider. Its revenue is expected to reach RMB 1.625 billion in 2025, with new energy vehicle solutions accounting for 50.7% of its business, but it has not yet achieved profitability. The company first attempted to list on the Science and Technology Innovation Board (STAR Market) in 2021, but was rejected in November of the same year. It first submitted its application to the Hong Kong Stock Exchange on October 31, 2025, but the application automatically expired upon the expiration of its validity period. This second attempt to list in Hong Kong involves issuing no more than 32.2908 million shares and converting a total of 116 million unlisted domestic shares held by existing shareholders into H shares. (Science and Technology Treasure News)