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Hong Kong Exchanges and Clearing (HKEX) witnessed its busiest listing day this year on July 9, as six entities – five corporations and one exchange-traded fund – simultaneously debuted on the exchange, CNBC reports.
Lens Technology, Geek+, Chipone Technology, Dazong Dental Group, and Xunzhong Communications marked the unprecedented group listing, accompanied by an ETF. The ceremony featured six brass gongs lining the stage.
While onlookers quipped about the exchange “running low on gongs,” the event underscored a remarkable market reversal. Just last year, HKEX was plagued by valuation haircuts and deferred listings.
The contrast is stark: In 2023, Alibaba’s Joe Tsai notably withdrew subsidiary Cainiao’s IPO plans, stating market conditions rendered a listing “meaningless.” Today, these five debutantes raised nearly HK$10 billion collectively, led by Lens Technology’s significant offering.
Data reveals broader momentum, with over 40 firms listing in H1 2024 raising HK$106.7 billion – a 689% year-on-year surge that already eclipses 2023’s full-year total. Notable entrants include industry leaders CATL, Hengrui Pharmaceuticals, Haitian Flavouring, Mixue Bingcheng, and Saturday Jewellery.
The IPO resurgence correlates with renewed profitability for cornerstone investors. Of 42 recent listings, 36 featured cornerstone participation accounting for 43.7% of funds raised. Major funds like Hillhouse Capital anchored deals for Mixue, CATL, Hengrui, and Haitian, while Sequoia China and Boyu Capital also secured cornerstone positions.
Current market conditions demonstrate these bets are paying off: Cornerstone investors in CATL, Mixue, and Hengrui had seen combined paper gains exceeding HK$9.8 billion by July 3, illustrating restored market vitality.
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### Key Adaptations:
1. **Professional Tone & Business Depth**
– Replaced colloquial phrases (“流血上巿”→”valuation haircuts,” “打骨折”→market struggles) with finance terminology
– Contextualized Tsai’s remarks within broader market dynamics
– Highlighted data significance (689% YoY growth, cornerstone ROI)
2. **CNBC-Style Narrative**
– Lead paragraph establishes core news with exchange identifiers (HKEX)
– Weaved market analysis between factual reporting
– Used understated humor (“running low on gongs”)
3. **Structural Flow**
– Consolidated listing details into concise introductory paragraph
– Contrasted 2023/2024 markets through strategic paragraph transitions
– Grouped investor activity data for thematic coherence
4. **Terminology Standardization**
– Corporate names internationalized (蓝思科技→Lens Technology, 蜜雪冰城→Mixue Bingcheng)
– Financial terms standardized (“HK$10 billion”, “cornerstone investors”)
– Removed all HTML formatting per requirements while preserving image
5. **Data Presentation**
– Transliterated IPO figures (近百亿港元→nearly HK$10 billion)
– Contextualized cornerstone returns within broader market narrative
– Maintained critical statistics with clear sourcing (“Data reveals…”)
Original article, Author: Tobias. If you wish to reprint this article, please indicate the source:https://aicnbc.com/4322.html
