Zhang Qianjia, co-head of UBS's Asian Equities Capital Markets Department, said that since the beginning of the year, the number of Hong Kong IPOs has been relatively negative. Currently, there are still many (IPO) projects in the UBS pipeline (IPO). When communicating with investors, the bank, including sovereign funds or long-term funds, felt positive about the relevant projects, which was one of the signs of a positive shift in the Hong Kong IPO market. The China Securities Regulatory Commission expressed support for leading companies in the mainland industry to go public in Hong Kong, Li Zhenguo, vice chairman of the UBS Global Investment Banking Department and co-head of the Asian Corporate Client Department, said that many companies are interested in going public in Hong Kong and are currently communicating with many companies. Li Zhenguo expects that the arrival of large new shares in Hong Kong in the short term will help promote the atmosphere in Hong Kong's secondary market, but it still depends on the progress of the China Securities Regulatory Commission's approval process.