Frost & Sullivan (Frost & Sullivan, abbreviated as 'Frost & Sullivan') has always been a leader in helping companies go public in Hong Kong. According to LiveReport's big data (statistical data as of June 30, 2025), from January to June 2025, as well as during the past 12 and 36 months, Frost & Sullivan provided listing industry advisory services for 29 (market share of 71%), 60 (market share of 67%), and 164 (market share of 69%) Hong Kong stock IPOs respectively, ranking first in terms of number. It has rich industry experience and communication skills with regulatory authorities, exchanges, investment and financing institutions, and various related agencies.
In the first half of 2025, the Hong Kong IPO market showed a strong recovery, with both the financing scale and the number of listings reaching new highs in recent years. As of June 30, a total of 42 new shares had completed IPOs (excluding transfer listings, reverse acquisitions, and initial public offerings through introductions) in the Hong Kong stock market, raising HK$1071 billion and reclaiming the number one spot globally. Notably, a total of 240 companies (231 on the main board and 9 on the GEM) filed applications with the Hong Kong Stock Exchange in the first half of 2025, an increase of 80.5% compared to 133 companies in the same period of 2024, and more than double the number for the whole year of 2024 (237) and 2023 (209).
In the first half of 2025, Frost & Sullivan provided exclusive industry advisory services to a total of 29 Hong Kong-listed IPO companies, accounting for nearly 71% of the total number of Hong Kong-listed IPOs; in June alone, Frost & Sullivan served a total of 12 IPO companies. In the last week of June, a total of 8 Hong Kong-listed IPO companies chose Frost & Sullivan as their trusted industry research advisor without exception, helping them successfully go public. Frost & Sullivan has delivered a remarkable report card with its professional services!Industry consultants Frost & Sullivan are 100% involved, and a 'major event' of eight companies listing on the Hong Kong Stock Exchange is taking place over a week
As the dynamics and direction of the capital market are increasingly deeply influenced by geopolitical and economic conditions, global capital markets are undergoing profound changes. Against this backdrop, Hong Kong, as one of the world's most influential financial centers, plays a pivotal role connecting the mainland with the global economy. Hong Kong stocks, with their stable legal environment and interconnectivity mechanism with the A-share market, have become a 'safe haven' for Chinese-funded enterprises seeking overseas financing, highlighting their unique capital market advantages even more. Driven by regulatory coordination between the mainland and Hong Kong markets, A-share listed companies are embracing historic opportunities to list in Hong Kong. Among the 29 Hong Kong-listed companies served by Frost & Sullivan, five are listed both in the A-share and Hong Kong markets, achieving cross-market liquidity complementarity and fully initiating an international development process. They are:Chifeng Gold (6603.HK),Junda Co., Ltd. (2865.HK),Hengrui Medicine (1276.HK),Haitian Flavor Industry (3288.HK),Sanhua Intelligent Control (2050.HK).
Currently, new consumer, healthcare, and hard technology industries have become the core drivers and vanguards of future Hong Kong stock market growth. These three major industry sectors will continue to bring tremendous growth potential to the market, offering ecological business applications and policy environments with strategic support. Among them, the consumer goods industry is one of the most dynamic segments in Hong Kong's IPO activities in the first half of 2025. Frost & Sullivan has provided services to a total of eight consumer goods IPO companies, namely:Haitian Flavor Industry (3288.HK),Saturday Fortune (6168.HK),Brocade (0325.HK),Newman's (2530.HK),Yingtong Holdings (6883.HK),Xiangjiang Electric Appliance (2619.HK),New Joy Caravan (0805.HK),Shubao International (2569.HK)These companies are all leading representatives in their respective niche markets, among which there is one known as the 'No.1 Perfume Company in China'.Yingtong Holdings (6883.HK); and known as the “soy sauce reed”Haitian Flavor Industry (3288.HK)It firmly holds the leading position in China's condiment industry; and there is also 'China's Lego'Brocade (0325.HK), leveraging the ability to assemble character-based toys to export influence globally.
In the healthcare industry, driven by multiple favorable factors such as policy easing and breakthrough medical technologies, Frost & Sullivan continues to maintain its leading position in serving the industry, providing exclusive industry advisory services to a total of 8 companies, namely:Hengrui Medicine (1276.HK),Yingen Biology-B (9606.HK),MIRXES-B (2629.HK),Weicheng Pharmaceutical-B (2561.HK),Brain Aurora-B (6681.HK),Baize Medical (2609.HK),Tide Pharma (3880.HK),Yaojie Ankang-B (2617.HK).
In the field of hard technology, tracks such as semiconductors, AI, new energy, and high-end equipment have also seen unprecedented policy inclination and capital dividends. Frost & Sullivan has provided services to a total of 5 intelligent manufacturing enterprises, which are:Sanhua Intelligent Control (2050.HK),Rongda Technology (9881.HK),Junda Co., Ltd. (2865.HK),Zhengli New Energy (3677.HK),Hui Ge Environmental Protection (2613.HK)Among them, representing enterprises “Sanhua Intelligent Control (2050.HK)"The dual-platform layout of 'A+H' and its global industrial footprint open up multiple development opportunities for expanding global business."
As the 'nerve center' that undertakes the leapfrog transformation of the intelligent manufacturing industry, the software service industry has also received high attention from the capital market. Frost & Sullivan supports this with in-depth research.Cao Cao's Expedition (2643.HK),Saimo Technology (2571.HK)The two companies are accelerating their embrace of the capital market and long-term development!
During the process of an enterprise going public in Hong Kong, Frost & Sullivan mainly undertakes the following tasks: helping the issuer accurately and objectively understand its positioning in the target market, using objective market data to discover, support, and highlight the issuer's competitive advantages, assisting the issuer, investment banks, and other intermediaries in completing the relevant parts of the prospectus (such as the overview, competitive advantages and strategy, industry overview, business, and other important sections), helping the issuer complete communication with the Stock Exchange and investors, assisting investors in quickly understanding the market ecosystem and competitive landscape, and assisting the issuer in completing feedback on various industry-related issues from the Stock Exchange.
Since the Frost & Sullivan team began providing investment and financing advisory services to corporate leaders and their management teams, it has helped nearly 3,000 companies successfully list on the Hong Kong stock market and overseas. It is a leading enterprise in the field of investment and financing strategy consulting in China. Frost & Sullivan has long cooperated closely with top global investment banks, accounting firms, law firms, investment institutions, and industry-leading companies, building the most effective matchmaking platform for investment and financing needs in China. It can quickly form a comprehensive advisory service team. Over the past decade, Frost & Sullivan has consistently ranked first in the market share of professional industry consultants for Chinese companies listing on the Hong Kong stock market and overseas; in recent years, Frost & Sullivan reports have also been widely cited in the prospectuses of leading A-share and Sci-Tech Innovation Board listed companies, primary and secondary market research reports, and other capital market disclosure documents.
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About Frost & Sullivan
Frost & Sullivan, a global growth consulting firm, integrates 64 years of consulting experience across the world. Over the past 27 years, it has dedicated itself to serving the booming Chinese market with a global perspective. It helps over 10,000 clients accelerate their business growth, achieve benchmark positions in growth, innovation, and leadership within their industries, and realize capital operation goals such as financing and listing.
Frost & Sullivan is deeply involved in the global capital markets and corporate consulting services. By innovatively introducing 'Total Investment Management (TIM)', it provides comprehensive investment and financing as well as various other professional consulting services for enterprises, including investment and financing CDD, valuation services, technology advisor, financial advisor, ESG, fundraising and investment feasibility studies, bond issuance industry advisor, industry advisor, assessment services, award services, industry white papers, strategic and management consulting, planning consulting, technical insights, etc.
The investment and financing business of Frost & Sullivan Greater China has achieved full industry coverage of China's national economy, including a high level of attention to all economic hotspots such as the new economy and new infrastructure. It covers digital infrastructure, consumer electronics, dual-carbon new energy, healthcare and life sciences, catering and new retail, semiconductors and integrated circuits, smart homes, automotive and mobility, health services, food and beverages, information and communication technology, fintech, real estate and property management, mining and smelting, beauty and fashion, big data and artificial intelligence, logistics and supply chain, construction technology and decoration, special new materials, culture and entertainment, enterprise-level services, cross-border e-commerce trade, infrastructure construction, environmental protection and energy-saving technology, education and training, etc.
Since the Frost & Sullivan team began providing investment and financing advisory services to corporate leaders and their management teams, it has helped nearly 3,000 companies successfully list on the Hong Kong stock market and overseas, making it a leading enterprise in the field of investment and financing strategy consulting in China. Over the past decade, Frost & Sullivan has continuously ranked first in market share for professional industry advisory services for Chinese companies listing on the Hong Kong stock market and overseas; moreover, in recent years, Frost & Sullivan reports have been widely cited in the prospectuses of leading A-share and Science and Technology Innovation Board listed companies, as well as in primary and secondary market research reports and other capital market disclosure documents.
For over 64 years, Frost & Sullivan has helped a large number of clients (including Fortune Global 1,000 companies, top domestic and international financial institutions, and other leading enterprises) achieve strategic goals through its nearly 50 offices around the world. It has established a market position confirmation system and innovatively proposed the 'FSBVFrost & Sullivan Brand Value Model'. It has provided market position research and brand value assessment services to over 1,000 enterprises, continuously helping a large number of Chinese brands achieve domestic and overseas growth strategies.
