"Consumer technology" dual drive, Hong Kong stock market welcomes valuation repair

The Hong Kong IPO market is experiencing a significant rebound, with the supply of quality assets gradually improving, market liquidity strengthening, and attracting a lot of attention from investors. Wind Information data shows that in May 2025 alone, the cumulative amount raised from IPOs in the Hong Kong market reached 55.801 billion Hong Kong dollars, setting a record for the highest monthly fundraising since March 2021. Furthermore, as of June 2, 2025, the cumulative fundraising scale for the year has exceeded 77.4 billion Hong Kong dollars, close to 90% of the total for the whole of 2024. In addition, the premium rate for AH shares has further converged. Data shows that as of the close on May 30, the Hang Seng AH share premium index was 132.83, a significant decrease from 151.61 on September 11 of last year. After leading companies such as CATL listed in Hong Kong, Hong Kong stocks have shown a premium compared to A-shares, sparking high market attention to the "revaluation of Hong Kong stock assets." Data shows that as of the close on June 2, the Hang Seng Index, Hang Seng China Enterprises Index, and Hang Seng Technology Index have respectively increased by 15.44%, 14.67%, and 14.91% year-to-date, indicating a round of valuation recovery in the Hong Kong stock market.