79 days broke through one trillion, with over 200 companies submitting applications; Hong Kong's IPO market will remain red-hot in 2026.

Since 2026, the Hong Kong IPO market has maintained strong momentum. As of March 20, in just 79 days of the year, the total amount of funds raised through IPOs has exceeded HK$100 billion, breaking the record for the fastest reaching of HK$100 billion since the listing reform in 2018, and possibly the fastest in Hong Kong's history. Not only has the speed of IPO fundraising broken records at the Hong Kong Stock Exchange, the number of companies submitting IPO applications may also reach a new high in the history of the Hong Kong Stock Exchange. As of March 26, the number of companies submitting IPO applications to the Hong Kong Stock Exchange this year has exceeded 200, reaching at least 203 companies (excluding undisclosed confidential submissions). Of these, 200 are main board applications (including 4 that have publicly disclosed confidential submissions) and 3 are GEM (Growth Enterprise Market) applications. There are 140 companies submitting applications for the first time (including 3 that have publicly disclosed confidential submissions) and at least 63 companies submitting applications for a second time (including 1 that has publicly disclosed confidential submission). There are 171 companies submitting applications in the form of H shares, including 47 A-share listed companies planning to list in Hong Kong after listing in mainland China. In terms of the pace of submissions, at least 203 companies have submitted applications within 85 days, averaging around 2.4 companies per day. The peak submission period was concentrated in late January, with 17 submissions on January 30 and 13 on January 26.