In the first half of 2026, the Hong Kong stock IPO market continued its strong recovery, achievingthe best performance in the past five years during the same period.
According to LiveReport’s big data statistics, in the first half of 2026, a total of 84 new stocks went public on the Hong Kong market (1 was introduced through introduction listing, and 2 were transferred to other markets), representing a year-on-year increaseof 100%; the total raised amount was approximately210.4 billion Hong Kong dollars, an increase of92.3%; the amount raised ranked second globally after NASDAQand was thesecond largest in the world.
The overall market showed a favorable pattern with multiple growth points. Sectors such as technology manufacturing, biomedicine, and consumer goods all performed well. Companies related to new productive forces became the main participants in listings, highlighting the continuous attractiveness of the Hong Kong market for high-quality core assets.
With the normalization of Hong Kong stock IPO review processes and continuous improvement of listing rules, the market has increasingly demanded higher quality information disclosure in prospectuses and rigorous industry analysis. The professional value of third-party independent industry consultants has become more prominent. As a professional institution specializing in Hong Kong stock IPO research services, Frost & Sullivan (hereinafter referred to as “Frost & Sullivan”) provided exclusive industry consulting services to58Hong Kong stock IPO companies in the first half of 2026. By number of projects, its market share reached69%;it remained at thetop position in the industry..
From the perspective of different listing rules, Frost & Sullivan had extensive coverage across all sectors, with a prominent advantage in key areas.
【A+H】
According to LiveReport’s big data statistics, in the first half of 2026, there were 24 A+H listed new stocks. Frost & Sullivan achieved100% coverage. The total amount raised in this sector was approximately 121.7 billion Hong Kong dollars, accounting for 57.9% of the total market amount. This indicates that Frost & Sullivan had anabsolute advantagein the largest and most stringent review standards among leading return-to-HK stocks.
【18C Specialized Technology】
There were 13 new stocks listed under 18C Specialized Technology. Frost & Sullivan served 8 of them, with a market share of61.5%. The sector raised approximately 29.8 billion Hong Kong dollars, accounting for 14.2% of the total market, significantly supporting early-stage innovative enterprises in capitalization.
【18A Biotech】
There were 10 new stocks listed under 18A Biotech. Frost & Sullivan served 8 of them, with a market share of80%. The sector raised approximately 11.6 billion Hong Kong dollars, accounting for 5.5% of the total market, further solidifying Frost & Sullivan’s service advantage in the biomedicine sector.
Overall, Frost & Sullivan had anabsolute positionin high-value leading IPO sectors. It also maintained high penetration rates in two innovative rule sectors, demonstrating the market’s high recognition of Frost & Sullivan’s professional research capabilities and further widening the gap with competitors.
【Cross-Sector Service Capability】
Behind its impressive market share lies Frost & Sullivan’s professional service capabilities across all sectors and rich project implementation experience. In the first half of 2026, Frost & Sullivan’s services covered multiple high-growth sectors such as advanced intelligent manufacturing, computing power, AI, Semiconductor, and innovative drugs. Among them:
-
Semiconductor sector:Of the 16 Hong Kong-listed companies, Frost & Sullivan served 11, with a market share of 69%.
-
AI-related sectors:Of the 18 listed companies, Frost & Sullivan served 13, with a market share of 72%.
Its cross-sector service capability has been continuously verified by the market.
Frost & Sullivan’s core mission
is to assist companies in going public in Hong Kong by helping them accurately and objectively understand their position in the target market. Using objective market data, it explores, supports, and highlights the company’s competitive advantages. It also helps the company complete important sections of the prospectus, such as overview, competitive advantages and strategy, industry overview, and business, in collaboration with the company, investment banks, and other intermediaries. It also assists the company in communicating with the Stock Exchange and investors, helping investors quickly understand the market ecosystem and competition structure, and assisting the company in responding to various questions from the Stock Exchange regarding the industry.
Strong capabilities: Nearly 3,000 companies have successfully gone public
Frost & Sullivan’s team has provided investment and financing consulting services to corporate leaders and management teams. So far, it has helped
nearly 3,000Nearly three thousand companiesThe company successfully listed on Hong Kong and both domestic and international markets, making it a leading player in the field of investment and financing strategy consulting in Chinathe field of investment and financing strategic consulting in China.
Frost & Sullivan has long cooperated closely with globally renowned investment banks, auditing firms, law firms, investment institutions, and leading enterprises in the industry. It has established an efficient domestic platform for connecting investment and financing needs, enabling rapid formation of comprehensive consulting service teams.
Over the past 10 years, Frost & Sullivan has consistently held theleading positionin the market share of professional industry consultants for Chinese companies going public in Hong Kong and overseas. In recent years, Frost & Sullivan’s reports have also been widely used in the prospectuses of listed companies on the A-share market and Sci-Tech Innovation Board, as well as in research reports for the primary and secondary markets and other capital market documents.
Future Outlook: Continued focus on Hong Kong stock IPO
In the future, with continuous improvement in the liquidity of the Hong Kong market and continuous optimization of listing rules, the enthusiasm for the new stock market is expected to continue. More companies related to new productive forces will list on the Hong Kong market.
Frost & Sullivan will continue to rely on its mature research system and rich project implementation experience to deepen its industry consulting services for Hong Kong stock IPO. It will provide high-quality, professional industry research support to companies going public in Hong Kong, helping them achieve their capitalization goals smoothly.
