Long-term capital continues to return, with state-owned and foreign capital competing to become cornerstone investors in Hong Kong stock IPOs

Since 2025, the Hong Kong stock IPO market has been booming, with over 40 companies listed on the Hong Kong stock exchange, and large IPO projects continuously emerging, with the total financing scale exceeding HKD 100 billion. Against this backdrop, the number and quality of cornerstone investors in the Hong Kong stock IPO market have also been steadily rising, far exceeding the levels of the same period in 2024. According to statistics compiled by Securities Times reporters, in the 2025 Hong Kong stock IPO market, local state-owned assets are increasingly "making appearances" among cornerstone investors, while various well-known foreign capital, industrial investments, private equity investments, and other types of funds are also actively entering the Hong Kong stock IPO cornerstone investment space. This indicates that more and more long-term funds are continuously returning to the Hong Kong stock market to share in the listing and growth feast of Chinese assets