Hong Kong IPO cornerstone participation increases significantly as domestic and foreign capital rush to grab high-quality assets.

In the first half of the year, the cornerstone investors in the Hong Kong stock IPO market showed active trends. According to Wind data, out of the 43 Hong Kong stock IPOs in the first half of the year, over 40% of companies were backed by more than 5 cornerstone investors, a significant increase from the same period last year. With the improvement in market liquidity and asset quality, market participants indicate that cornerstone investment is shifting from a tool to "protect the issuance" to a key lever for "grabbing assets". In the future, Hong Kong stocks are expected to continue to inject high-quality targets and further absorb incremental liquidity.