--- title: "Hong Kong Stock IPOs with 1000 Times Subscription Frequently Occur, Releasing Multiple Signals" type: "News" locale: "en" url: "https://longbridge.com/en/news/283070971.md" description: "Hong Kong stock IPOs frequently see subscriptions exceeding a thousand times, with Hangzhou Qunhe Technology's public offering receiving 1,071 times oversubscription, raising HKD 131.2 billion. In 2026, among 41 new stocks, 22 were oversubscribed by more than a thousand times, with BBSB INTL setting a record of 10,745 times. The thousand times subscription reflects the attractiveness of quality assets in Hong Kong stocks, significant profit-making effects, and a reshaping of valuation logic. The hard technology sector has seen concentrated explosions, with quality assets becoming scarce resources, and companies possessing high technical barriers and profit models. Investors focus on technical barriers and sustainable growth, with funds concentrated on companies with hardcore strengths" datetime: "2026-04-17T00:50:13.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283070971.md) - [en](https://longbridge.com/en/news/283070971.md) - [zh-HK](https://longbridge.com/zh-HK/news/283070971.md) generator: "portal-rs" --- # Hong Kong Stock IPOs with 1000 Times Subscription Frequently Occur, Releasing Multiple Signals On April 14, Hangzhou Qunhe Information Technology Co., Ltd. (hereinafter referred to as "Qunhe Technology"), one of the "Six Little Dragons of Hangzhou," concluded its Hong Kong stock IPO subscription. According to brokerage data, Qunhe Technology's public offering was oversubscribed by approximately 1,071 times, with a financing subscription amount reaching HKD 131.2 billion. Since the beginning of 2026, Hong Kong stock IPOs have frequently seen oversubscriptions of over a thousand times. Data shows that as of April 16, among the 41 new stocks listed this year, 22 had public offerings that were oversubscribed by more than a thousand times. Among them, BBSB INTL set a record with an oversubscription of 10,745 times, while other new stocks such as Youlesai, Haizhi Technology Group, and Huayan Robotics also saw subscriptions exceeding 5,000 times. In my view, the frequent occurrence of thousand-fold oversubscriptions signals multiple trends: the continued attractiveness of quality assets in the Hong Kong stock market, significant profit-making effects from new stocks, and a reshaping of valuation logic in the Hong Kong stock market. First, the hard technology sector is experiencing concentrated growth, making quality assets a scarce resource. The thousand-fold oversubscription of new stocks in the Hong Kong market shows a clear industrial mainline, dominated by three major sectors: industrial engineering, software services, and healthcare, with technology-driven companies taking the absolute lead. Companies such as Sigene Energy, Huayan Robotics, Jivision, Kales Technology, and Feisuk Innovation are deeply engaged in fields like new energy, industrial robotics, computer vision, intelligent logistics, and optical modules, all possessing independent core technologies and leading positions in their segments. The commonality among these companies is their high technical barriers, clear profit models, and vast industrial space. For example, Zhaowei Electromechanical, with its self-developed precision transmission systems, covers high-end scenarios such as smart homes and automotive electronics, achieving an oversubscription of 1,536 times; innovative medical companies like Zhuozheng Medical, Deshi, and Jingfeng Medical have also garnered enthusiastic investor support. The Hong Kong stock market is shifting from concept-driven to hard-core strength-driven, with companies that master core technologies and align with industrial upgrade directions attracting more investor interest. Second, the profit-making effect of new stocks is becoming increasingly significant. Behind the thousand-fold oversubscription of new stocks in the Hong Kong market is the continuous realization of profit-making effects from IPOs. Since 2026, many hard technology new stocks that received thousand-fold subscriptions have performed remarkably after listing; for instance, several stocks like Jivision saw their prices increase by over 100% on the first day of trading, validating the valuation premium and growth certainty of hard-core assets. At the same time, investors are no longer blindly following trends but are focusing on indicators such as technical barriers, business models, and sustainable growth. Whether individual investors or institutions like insurance funds, public funds, and international asset management companies, all are concentrating their funds on technology leaders with long-term growth logic, which not only enhances market liquidity but also promotes Hong Kong stocks as an important platform for global hard technology asset pricing. This rational pursuit stems from confidence in the upgrade of China's technology industry and the continuous realization of IPO returns in the Hong Kong market, further stimulating market participation enthusiasm. Third, the valuation logic of Hong Kong stocks is being reshaped, attracting a number of new economy enterprises, including technology companies, to list in Hong Kong. The deeper significance of the thousand-fold subscription wave is the profound transformation of the valuation logic in the Hong Kong stock market. In recent years, the Hong Kong Stock Exchange has adjusted the listing thresholds for specialized technology companies under Chapter 18C, allowing all companies to submit listing applications confidentially, combined with the demand for mainland technology companies to "go overseas," which has collectively accelerated the gathering of quality technology assets For enterprises, as long as they possess core technologies and innovation capabilities, they can obtain efficient capital support; for investors, as the market returns to the essence of value, rational investment is more likely to yield stable returns. In 2026, the occurrence of thousand-fold subscriptions in the Hong Kong stock market is not a temporary market frenzy, but an important sign of the rise of China's hard technology and the maturation and upgrading of the Hong Kong stock market. With more hardcore technology companies landing, the Hong Kong stock market is becoming the core battlefield for global capital allocation of high-quality technology assets in China ### Related Stocks - [08610.HK](https://longbridge.com/en/quote/08610.HK.md) ## Related News & Research - [BBSB International FY26 H1 profit rises 52.86% to RM 4.89 million; revenue falls 13.4% to RM 64.15 million](https://longbridge.com/en/news/297057452.md) - [Nvidia vs. Broadcom: Which Trillion-Dollar AI Chip Stock Has More Upside After Their Latest Earnings?](https://longbridge.com/en/news/298836856.md) - [TECHNICALS-CBOT wheat may retest resistance at $7.43](https://longbridge.com/en/news/298691574.md) - [IT Park Uzbekistan explores cooperation with La French Tech on startup exchange programs](https://longbridge.com/en/news/298809219.md) - [Mongolia Energy signs MNT 1.5 billion contract for Khushuut coal mine laboratory construction](https://longbridge.com/en/news/298566389.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**