Star companies are promoting listing in Hong Kong, AH premium index fluctuates slightly, narrowing the valuation gap.

Since the fourth quarter of 2025, A-share companies listing in Hong Kong have once again sparked a small wave, with a total of 10 new companies listed on the A+H board, including the listing of Montage Technology and Howin Group this year. In addition, Longqi Technology is in the process of IPO, while companies such as Langqing Technology, Desay SV, Dongpeng Beverage, and Guoen shares are also accelerating their listing process. Overall, in the recent period, star companies in sectors such as technology, consumption, and high-end manufacturing have become the main force. It is worth noting that this hot trend has strengthened the linkage between the two capital markets, and has made the differentiation in the premium levels of AH stocks a focus of market attention. Since 2025, the AH stock premium index has shown a downward trend, as high-quality A-share companies listing in Hong Kong have increased the liquidity of the Hong Kong stock market, reduced the discount of H-shares due to insufficient liquidity, and narrowed the valuation gap between the two markets. However, in the past three months, the AH stock premium index has shown a slight fluctuation trend, closing at 120.43 points on January 16, which is slightly higher than the low of 115.44 points at the end of last year, reflecting a relatively strong trend for A-shares in the recent period. However, there is still significant differentiation in individual stocks.