BI-HKEX@EC2609B

PUXING ENERGY

STARCOIN GROUP

KNOWLEDGE ATLAS

EASY SMART GP

WORLD SUPER

XL2CSOPSMSN-U

PPS INT'L

LAP KEI ENGRG

CHINA FORTUNE

XL2CSOPSMSN

07500

HKXCY

00388

159842

512000

512880

07300

Hong Kong is experiencing a surge in IPO applications, with 16 new and refiled submissions, including Top Toy, indicating a strong push to attract capital despite competition. The filings, disclosed by HKEX, highlight a focus on hard-tech sectors like integrated circuits and robotics. Hong Kong ranked first globally for IPO proceeds in Q1, raising $13.3 billion. Despite market volatility, investor sentiment remains positive, with expectations of around 100 new listings in the first half of the year, potentially raising $10 billion. However, only half of the active applications may proceed to pricing due to a selective environment.

SCMP

SPDR S&P Semicon

VG Financial

FI2 CSOP HSI

Hong Kong Exchanges and Clearing (HKEX)

HKEX

Yinhua CSI All Share Investment Banking & Brokerage ETF

Hwabao WP CSI All Share Investment Banking & Brokerage ETF

Invesco Semiconductors ETF

CSOP HSI ETF

ChinaAMC Guozheng Semiconductor Chip ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

Guotai CES Semiconductor Chip Industry ETF

Guotai CSI All Share Investment Banking & Brokerage ETF

China Southern CSI Semiconductor Industry Custom ETF

VanEck Semiconductor ETF

FI CSOP HSI

TOP TOY International Group Limited

Direxion Semicon Bull 3X

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

Guotai CSI Computer Theme ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

ISHARESHSI

iShares Semiconductor ETF

Hong Kong tightens grip on IPO crown as filings surge and pipeline grows

00288

00175

BABA

GELYY

03033

07200

The Hang Seng Index closed at 25,294 points, up 505 points or 2.0%. The Hang Seng TECH Index reported 4,756 points, up 106 points or 2.3%. The total market turnover was HKD 291.421 billion. Major stocks such as Alibaba and HKEX all saw increases, with Alibaba rising 3.1% and HKEX up 3%. Several individual stocks reached new highs, with active trading

AASTOCKS

WH GROUP

GEELY AUTO

BABA-W

Alibaba

Hang Seng TECH Index

Geely Auto

CAM HS TECH

Dacheng Hang Seng Technology ETF(QDII)

ISHARESHSTECH

GX HS TECH

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

ChinaAMC Hang Seng Technology ETF(QDII)

Hang Seng TECH ETF I

CSOP HS TECH

TRACKER FUND

BABA 2x Long Daily ETF - GraniteShares

FL2 CSOP HSI

KraneShares 2x Long BABA Daily ETF

According to the Hong Kong Daily News, the Hang Seng Index rose by 505 points; the Hang Seng TECH Index increased by 106 points. Alibaba rose by over 3%, HKEX rose by over 3%, and Geely, WH GROUP, Bank of China, Industrial and Commercial Bank of China, and WeLab B reached new highs with active trading

00HSI

The Hang Seng Index closed at 25,276 points, up 488 points or 2.0%. The Hang Seng TECH Index reported 4,723 points, up 73 points or 1.6%. The China Enterprises Index rose 129 points or 1.5%, closing at 8,503 points. Hong Kong Exchanges and Clearing increased by 3.3% to HKD 401.4, Alibaba rose by 2.9% to HKD 122.4, and Tencent increased by 2.6% to HKD 496.4. Several stocks, including China National Pharmaceutical Group and BeiGene, performed outstandingly, while Geely reached a new high, closing at HKD 21.7, up 3.7%

ICBC

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

Tencent

Hang Seng Index

LEADS BIOLABS-B

TENCENT

"Half-Day Express" Hang Seng Index rises 488 points; Hang Seng TECH Index rises 73 points, HKEX rises over 3%, Geely, WH GROUP, ICBC, Bank of China, LEADS BIOLABS-B hit new highs

00724

Ruixin International Challenges HKEX Move to Cancel Listing Amid Prolonged Trading Suspension

Tip Ranks

RUIXIN INT'L

Ruixin International Challenges HKEX Move to Cancel Listing Amid Prolonged Trading Suspension

Ruixin International Holdings says stock exchange of Hong Kong decided to cancel co's listing as per March 20 letter

marketscreener

Ruixin International Holdings says stock exchange of Hong Kong decided to cancel co's listing as per March 20 letter

KWEB

Tencent bought back 621,000 shares for HK$300.6 million on Mar 31, HKEX filing shows

Krne Csi China Internet

Tencent Holdings Limited

Tencent bought back 621,000 shares for HK$300.6 million on Mar 31, HKEX filing shows

513600

The Hong Kong securities industry performed strongly in 2025, with a total net profit of HKD 71.7 billion, a year-on-year increase of 62%, reaching a five-year high. The total trading volume surged by 52% to HKD 21.9 trillion, breaking the record set in 2021. Net commission income grew by 50%, and asset management income increased by 30%. Group C brokerage firms saw the largest increase in net profit, reaching HKD 6.1 billion, a growth rate of 77%. The overall performance of the industry is impressive, reflecting the increased confidence of global investors in the Hong Kong market

Stheadline

China Southern Hang Seng ETF

HS AINDTOPETF-R

ChinaAMC Hang Seng ETF

E Fund CSI Hongkong Bond Investment Theme ETF

Hong Kong's securities industry achieved its highest profit and trading volume in 5 years last year, with net commission income increasing by 50%

The Hong Kong Exchanges and Clearing (HKEX) announced a new fee model to accommodate paperless transactions, expecting nearly 90% of small brokers to benefit from lower fees. The new system adjusts the share withdrawal fees, share custody fees, and introduces a membership fee for the central clearing system, simplifying the fee structure. Nevertheless, legislator Lee Wai-hong is concerned that the new fee model may lead to some settlement participants having to pay more fees, resulting in unfairness

ISHRS Us Brokers & Sec Exchg

The Hong Kong Exchanges and Clearing announced a new paperless fee structure, benefiting nearly 90% of small brokerage firms, while lawmakers are concerned it may create unfair phenomena

01299

AAGIY

03419

AIA Group bought back 2.7 million shares for HK$224.8 million on March 30 - HKEX filing

AIA Group

A GX HSICC

AIA Group bought back 2.7 million shares for HK$224.8 million on March 30 - HKEX filing

03887

513750

Hong Kong plans to integrate tokenized bond issuance and settlement into its financial system, aiming to create a scalable infrastructure for digital capital markets. This initiative will utilize blockchain technology to enhance efficiency and accessibility in the financial sector. The move is part of broader efforts to modernize Hong Kong's financial ecosystem and position it as a hub for digital asset transactions, potentially revolutionizing the traditional bond market and offering new opportunities for investors and businesses.

Unusual Whales

HASHKEY HLDGS

GF Fund CSI HK Connect Financials(ex Banks) Thematic ETF

Hong Kong aims to incorporate tokenized bonds into its financial system, creating scalable infrastructure for digital markets.

01967

Confidence Intelligence Holdings Limited (HK:1967) plans to update its constitutional documents to align with Hong Kong's evolving listing requirements. The changes include adopting a third amended and restated memorandum and articles of association, accommodating a paperless listing regime and electronic corporate communications. These amendments require shareholder approval at the upcoming annual general meeting. The current analyst rating for HK:1967 is a Hold with a price target of HK$0.44. The company operates under the regulatory framework of the Hong Kong Exchanges and Clearing Limited.

CONFIDENCE IN

Confidence Intelligence to Update Articles for Paperless, Uncertificated Market

Tencent bought back 624,000 shares on March 30 - HKEX filing

Tencent bought back 624,000 shares on March 30 - HKEX filing

Huscoke's Trading Suspended After HKEX Review Committee Upholds Decision

Huscoke's Trading Suspended After HKEX Review Committee Upholds Decision

Today’s Key News Recap

0203 | Dolphin Research Focus: Macro/Industry. In early trading, Hong Kong stocks plunged on unverified tax rumors about revising the High-Tech Enterprise qualification and raising tax rates for internet and gaming. Against the backdrop that VAT changes for the telecom sector have already taken effect, the chatter quickly spread.It triggered a broad selloff across HK tech, internet, and gaming. Valuations were hit in the short term, risk aversion spiked, and funds rotated to safety.Dolphin Research has issued a First Take on this. See 'China ADRs: Tax Hike Rumor — The rationale behind the false alarm'...

Webull

Tesla

Alphabet - C

Alphabet

HKEX-R

Uber Tech

Palantir Tech

EASTROC

EASTROC BEVERAGE

WEBULL CORPORATION C/WTS 10/04/2030(TO PUR COM)

Tax-hike rumors rattled the market; Dongpeng Beverage's debut was 'lukewarm' | Daily News Recap

0109 | Dolphin Research Focus. 🐬 Macro/Industry 1) HKEX announced it will add six stock options effective Jan 19, covering names such as Zijin Gold Intl, Laopu Gold, and Horizon Robotics.The additions broaden derivatives choices and offer more risk management tools. They should also help lift liquidity in the underlying names.🐬 Single Stock 1) $Taiwan Semiconductor(TSM.US) TSMC reported Dec revenue of NT$335.03bn, down 2.5% MoM but up 20.4% YoY. 2025 YTD revenue rose 31.6% YoY...

Apple

Taiwan Semiconductor

JD-SW

JD-SWR

JD HK SDR 10to1

JD.com

LAOPU GOLD

Laopu Gld HK SDR 50to1

Direxion Auspice Broad COM

TSM Q4 rev. seen >NT$1 tn; GOOGL integrates Gemini into Gmail | Daily News Recap

Baidu

Hot topic

Appraisal value

Long-rumored Kunlun Chip spin-off is now official as $Baidu(BIDU.US) announced it.On Jan 2, BIDU proposed to spin off Kunlun Chip Technology for an independent listing on the HKEX Main Board, while retaining control (59.45%).BIDU has filed confidentially, and the detailed prospectus is not yet public.Based on available information, Dolphin Research will first outline a few key questions.1. Kunlun Chip's origins and evolution? It traces back to BIDU's FPGA accelerator project launched in 2011...

BIDU-SWR

BIDU-SW

Baidu HK SDR 10to1

BIDU ADR US

Kunlun Chip IPO fast-tracks: Is BIDU's Google moment here?

1209 | Dolphin Research Focus: 🐬 Macro/Industry 1) Hong Kong Exchanges and Clearing Ltd. (HKEX) announced the HKEX Tech 100 Index, tracking the 100 largest Southbound Stock Connect-eligible tech names across six themes, including AI, biotech, and autonomous driving. The index fills a gap for a broad-based vehicle covering diversified China tech in HK and could attract more southbound flows.🐬 Single Stock 1) $NVIDIA(NVDA.US). Trump posted on Truth Social...

NVIDIA

Allianzim US Large Cap Buffer10 Mar ETF

POP MART

Bio-Techne

Mirae Asset Global Investments Co., Ltd.

GraniteShares 2x Long NVDA Daily ETF

XL2CSOPNVDA

XI2CSOPNVDA

YieldMax NVDA Option Income Strategy ETF

Direxion Daily NVDA Bear 1X ETF

T-Rex 2X Long NVIDIA Daily Target ETF

T-Rex 2X Inverse NVIDIA Daily Target ETF

Morgan Stanley

LEAPMOTOR

LI AUTO-W

NIO-SW

XPENG-W

POP MART HK SDR 20to1

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

Li Auto

NIO Inc. USD OV

NIO Inc

XPeng

HKEX debuts flagship Tech Index; NVDA H200 cleared for China exports | Daily News Recap

禾赛科技

Conference Minutes

The collaboration with BYD currently covers more than ten models, and more new models will gradually achieve mass production from 2025 to 2026.

Bloomage Biotech

Renaissance Ipo

Hello

Hesai

Pony AI

PONY-W

Hesai (3Q25 Minutes): Lidar shipments are expected to reach at least 2 million to 3 million units by 2026

BI-HKEX@EC2609B(27149.HK)

BI-HKEX@EC2609B Stock Performance Chart

Hong Kong tightens grip on IPO crown as filings surge and pipeline grows

"Half-Day Express" Hang Seng Index rises 488 points; Hang Seng TECH Index rises 73 points, HKEX rises over 3%, Geely, WH GROUP, ICBC, Bank of China, LEADS BIOLABS-B hit new highs

Ruixin International Challenges HKEX Move to Cancel Listing Amid Prolonged Trading Suspension

Ruixin International Holdings says stock exchange of Hong Kong decided to cancel co's listing as per March 20 letter