The demonstration effect of transferring boards is becoming evident, and "New Third Board + H shares" is gradually becoming a trend

Zhitong
2025.10.24 23:55

Recently, companies such as Jintian Animation, Bama Tea, and Shenghuo Technology that have delisted from the New Third Board have once again sparked a wave of listings in Hong Kong. At the same time, companies like POP MART and SMOORE INTL, which successfully transitioned to the Hong Kong stock market earlier, have grown into shining star companies, with POP MART's market value exceeding HKD 300 billion. Meanwhile, the "New Third Board + H-shares" model has provided a unique dual-platform financing path for some enterprises. In fact, in addition to the Beijing Stock Exchange, the Hong Kong Stock Exchange has also been an important destination for New Third Board companies to switch boards. As New Third Board companies continue to expand in the Hong Kong stock market, they have gradually formed a unique landscape