The surge in subscription multiples is frequently seen; the Hong Kong stock market is hot for new listings.

This year, multiple phenomenal IPOs have been listed on the Hong Kong Stock Exchange, with increasing capital continuously entering the Hong Kong stock market, driving the new listing market to remain hot. According to Statistics from the Hong Kong Stock Exchange, in the first five months of this year, 29 companies have been listed in the Hong Kong stock market, with IPO fundraising amounting to 77.7 billion Hong Kong dollars. This fundraising amount has jumped to first place globally. As of June 12, among the 31 IPO companies this year, 15 companies had an effective subscription multiple of over 100 times for their online offerings, and 3 of them achieved an effective subscription exceeding 1,000 times. New stocks with significant allocation also keep emerging, such as InnoCare Pharma-B, Mengjie Group, Bloks Group, Contemporary Amperex Technology, where investors experienced substantial profits on the first day of listing. "This wave of hot new listings in the Hong Kong stock market is mainly driven by new consumption and A-share companies listing in Hong Kong. As more Star Stocks are set to debut in the Hong Kong stock market in the second half of the year, the 'new listing feast' will continue in the Hong Kong stock market," said a wealth management department manager from a Chinese brokerage. (Shangzheng News)