Focusing on Hong Kong enterprises, policies, and major events, capturing business intelligence from Hong Kong within two weeks.
Author丨Li Xinting
Source丨Tou Zhong Wang
Hello everyone, welcome to this issue of the Hong Kong market biweekly report.
Let's first look at the continuously active Hong Kong Stock Exchange.
According to the latest data from the Hong Kong Stock Exchange, as of the end of August, 104 companies have gone public in Hong Kong this year, raising over 340 billion Hong Kong dollars, surpassing the total amount raised last year.
In the past two weeks, the companies that have listed on the Hong Kong Stock Exchange include Shein, Mechamand, Maiketian, Jiangbolong, and Youdi Robotics. Among them, Shein is a global online fashion retailer, Mechamand is a provider of intelligent industrial robot solutions, Maiketian is a provider of medical devices, Youdi Robotics is a manufacturer of all-scenario commercial service robots, and Jiangbolong is an independent semiconductor memory manufacturer listed in both Hong Kong and on the mainland.
As of the end of August, there are 501 companies waiting to be listed on the Hong Kong Stock Exchange, and now, another star company will join the listing queue.
According to media reports, the Dark Side of the Moon has submitted an A1 listing application to the Hong Kong Stock Exchange in confidentiality this week, officially starting the Hong Kong IPO process. However, this news has not received a positive response from the Dark Side of the Moon. Furthermore, according to recent comments from Hong Kong Financial Secretary Paul Chan, more state-owned infrastructure enterprises from Central Asia are planning to go public in Hong Kong.
In terms of bonds, in the past two weeks, the Development Bank of Kazakhstan, Tencent Music Entertainment Group, and the Guangdong Provincial Government have all listed bonds on the Hong Kong Stock Exchange.
Among them, the total scale of bond issuance by the Development Bank of Kazakhstan is 3.7 billion offshore yuan, including two maturities, 5-year and 10-year bonds; Tencent Music Entertainment Group has returned to the offshore bond market since its first issuance of offshore bonds in 2020. This dual-maturity issuance includes 5-year and 10-year bonds, with a total issuance amount of 1 billion US dollars; the Guangdong Provincial Government has issued dim sum bonds for the third consecutive year in Hong Kong, with a total issuance amount of 7.5 billion offshore yuan. This issuance is also the largest dim sum bond issuance by Guangdong this year.
Over the past two weeks, activity among Hong Kong institutions has also been vibrant.
According to reports, ByteDance has hired former executive of the well-known American technology investment firm Coatue, Kai Jiang, to lead the financial investment team based in Hong Kong, reporting to ByteDance CFO Gao Zhun. Insiders say this appointment will help ByteDance establish a more systematic investment process for sourcing and investing in emerging technology startups. The new team will look globally for investment opportunities in the technology sector, with artificial intelligence being one of the main directions.
According to Bloomberg, multi-strategy platform hedge fund Exodus Point plans to increase its number of employees in Asia by nearly 80% this year, with an expected total reach of about 100 employees in its Hong Kong, Singapore, and Tokyo offices by the end of this year, up from 56 at the beginning of this year, and is expected to grow further. It is reported that Exodus Point signed an agreement last month to double its office space in Hong Kong to 11,000 square feet, with expectations that its Hong Kong staff will reach 50 by the end of this year.
Exodus Point was established in 2017, and both of its founders previously held executive positions at Millennium, one of the largest multi-strategy platform hedge funds in the world. Currently, Exodus Point manages approximately 14.5 billion US dollars.
Also increasing its workforce is the leading global quantitative market maker SIG. According to Reuters, SIG plans to triple its office space in Hong Kong while also embarking on a large-scale recruitment drive. The company is expanding its business in Asia and seeking deeper opportunities to enter the exchange-traded fund (ETF) market in China.
Founded in 1987, SIG is headquartered in Philadelphia, USA, and its SEC-13F filings for the second quarter of this year indicated a total nominal holding value of about 1.28 trillion US dollars. According to its official website, SIG has additional regional offices in Asia, including Shanghai, Beijing, Mumbai, Singapore, and Tokyo.
Additionally, global alternative investment firm H.I.G Capital recently announced that Younghee Choi has joined the company’s capital raising group as the head for the Asia region. Younghee Choi is based in Hong Kong and will be responsible for capital raising for H.I.G's global private equity, credit, and real assets platforms in Asia. She has over 15 years of capital raising and private market experience, and before joining H.I.G, she held senior positions at Blackstone Group, including Managing Director and Head of Korea Institutional Client Solutions (ICS).
H.I.G was founded in 1993, is headquartered in Miami, and manages capital of up to 75 billion US dollars, focusing on providing debt and equity capital to middle-market companies, employing a flexible, operationally-focused, and value-added investment approach.
Financial institutions from the Middle East are also continuing to strengthen their presence in Hong Kong.
According to media reports, the Suhar International Bank's representative office in Hong Kong officially opened this week, with a current team size of around a dozen people. Suhar International Bank is headquartered in Muscat, Oman, and is the second largest and fastest-growing bank in Oman, having completed the acquisition and integration of HSBC's business in Oman in 2023. As of the end of 2025, the bank's total assets are expected to reach 9.129 billion Omani rials (approximately 23.7 billion US dollars), with a net profit of 100.5 million Omani rials (approximately 261 million US dollars), recognized by the Central Bank of Oman as a systemically important bank domestically.
The expansion of Middle Eastern financial institutions in Hong Kong is accelerating significantly: the largest bank in the UAE, First Abu Dhabi Bank, plans to double its office space in Hong Kong; the fifth largest bank in the UAE, Mashreq Bank, plans to move to a new office space approximately twice the current size in the third quarter of this year — the bank has been operating in Hong Kong for over 40 years.
In terms of policy dynamics, at the recently held 11th Belt and Road Forum, Chief Executive John Lee stated that Hong Kong's trade in goods with Belt and Road countries is expected to grow by nearly 17% by 2025, reaching approximately 323 billion US dollars, with nearly 1,500 companies from Belt and Road countries establishing offices in Hong Kong, an increase of about 17% from 2022.
Recently, Hong Kong's Financial Secretary Paul Chan posted a blog indicating that the development of the Northern Metropolis has entered a new phase, adopting an innovative "district development" model with a "double envelope system" for bidding, focusing more on industrial contributions rather than land prices. The first phase of the Hong Kong-Zhuhai-Macau Bridge project has already been awarded to a cross-industry consortium, which will invest 16.8 billion Hong Kong dollars, creating over 6,000 jobs and effectively leveraging market resources to reduce government financial pressure.
In terms of funding, the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks have established a "Northern Metropolis Financial Advisory Working Group" to tailor financing arrangements for different projects, including syndicate loans and infrastructure financing. Meanwhile, the SAR government has actively issued bonds, successfully issuing 27.6 billion Hong Kong dollars in green bonds and infrastructure bonds in May this year, which was oversubscribed by 8.6 times.
The development of the Northern Metropolis focuses on industrial landing; currently, Hong Kong Investment Management Company (HKIM) is coordinating with the Science Park on future industries like embodied intelligence to build an innovation and technology platform. This forms a "land—fund—industry" closed loop, accelerating economic transformation.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
