---
title: "The demonstration effect of transferring boards is becoming evident, and \"New Third Board + H shares\" is gradually becoming a trend"
description: "Recently, companies delisted from the New Third Board, such as Jintian Animation, Bama Tea, and Shenghuo Technology, have flocked to Hong Kong for listing, creating a wave. Companies like POP MART and"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/262694727.md"
published_at: "2025-10-24T23:55:51.000Z"
---

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

> Recently, companies delisted from the New Third Board, such as Jintian Animation, Bama Tea, and Shenghuo Technology, have flocked to Hong Kong for listing, creating a wave. Companies like POP MART and SMOORE INTL, which have successfully transitioned to the Hong Kong stock market, have become star companies, with POP MART's market value exceeding HKD 300 billion. The "New Third Board + H Shares" model provides enterprises with dual-platform financing pathways, making the Hong Kong Stock Exchange an important destination for New Third Board companies to switch boards, forming a unique landscape

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

### Related Stocks

- [09992.HK - POP MART](https://longbridge.com/en/quote/09992.HK.md)
- [06969.HK - SMOORE INTL](https://longbridge.com/en/quote/06969.HK.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| 泡泡瑪特在繁榮與蕭條之間取得平衡：Labubu 的崛起能否與 Molly 的勢頭相匹敵？ | 泡泡瑪特，這個國際藝術玩具品牌，面臨挑戰，因為其爆款角色 Labubu 在二級市場價格上出現下滑，而其標誌性角色 Molly 則慶祝 20 週年。公司的收入在很大程度上依賴於 Labubu，但其表現經歷了顯著的波動，與 Molly 的穩定表 | [Link](https://longbridge.com/en/news/275993548.md) |
| 年銷 4 億件！” 後 Labubu 時代”，泡泡瑪特的高增長能否持續？ | 滙豐表示，“Labubu 帶來的超高速增長會褪去，但平台能力會延續”，並將 2026 年定義為 “再定基” 的一年。瑞銀認為，銷量數據有助於緩解市場對單一爆款依賴的擔憂，同時新 IP Twinkle 在 2026 年初開局強勁，為增長接力提 | [Link](https://longbridge.com/en/news/275396337.md) |
| 富衞香港：25 年上半年新業務年度化保費按年升 90% | 富衞香港公佈 2025 年上半年新業務年度化保費按年升 90%，優於行業平均升幅 39%。新業務首年保費增長 128%，排名全港第二。各分銷渠道均實現雙位數增長，專屬代理人渠道升 69%，銀行保險渠道升 53%，經紀渠道升 291%，網上及 | [Link](https://longbridge.com/en/news/276418423.md) |
| 黃仁勳稱將發佈「令世界驚訝」新晶片「所有技術都已經逼近極限」 | 英偉達執行長黃仁勳在接受《韓國經濟日報》採訪時透露，將於 2026 年 3 月 16 日在聖何塞的 GTC 大會上發布一款「令世界驚訝」的新晶片。他表示，所有技術都已逼近極限，但有信心通過團隊合作克服挑戰。新晶片可能基於 Rubin 架構或 | [Link](https://longbridge.com/en/news/276297645.md) |
| 暴漲 50% 空頭死扛不退！泡泡瑪特正面臨一場史詩級 “逼空” 風暴？ | 泡泡瑪特港股近期暴漲 50%，但 S3 Partners 數據顯示空頭並未撤退，空頭佔自由流通股比例反而從 2% 激增至 16%，逼空風險評分達滿分 100。分析師稱這是罕見的 “極度擁擠單邊押注”，儘管公司通過回購提振信心，但空頭仍押注公 | [Link](https://longbridge.com/en/news/275545907.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.