Latest news with #JiangsuHengrui
South China Morning Post
25-05-2025
- Business
- South China Morning Post
Hong Kong's ‘bustling' IPO market exceeds HK$76 billion mark this year
Funds raised through Initial Public Offerings (IPO) in Hong Kong have exceeded HK$76 billion (US$9.7 billion) so far in 2025, the city's finance chief has revealed, following the biggest listing of the year, made last week by a mainland Chinese battery manufacturer. Financial Secretary Paul Chan Mo-po also said that deepening ties with the mainland is key for Hong Kong's long-term development, despite negative evaluations from some ratings agencies, as he expressed confidence in the city's financial markets to withstand external shocks. Writing on his weekly blog, Chan described the city's IPO market as 'bustling' after it welcomed the world's largest offering this year. Battery giant Contemporary Amperex Technology (CATL) which supplies the likes of Tesla and Volkswagen, saw its shares jump by more than 16 per cent in its listing last week, raising HK$41 billion. This propelled Hong Kong back to the top spot in global fundraising. In another significant listing, Jiangsu Hengrui Pharmaceuticals, one of the mainland's largest drug manufacturers, raised HK$9.89 billion in its trading debut on Friday, with shares soaring by 25 per cent. 'So far this year, the amount of funds raised from new share offerings in Hong Kong has exceeded HK$76 billion, an increase of more than seven times over the same period last year, and has reached nearly 90 per cent of the total amount of funds raised for all of [2024],' Chan said. Chan added that the government would continue to safeguard the security of Hong Kong's financial markets amid what he described as a 'complex and ever-changing' geopolitical and economic landscape.
Forbes
23-05-2025
- Business
- Forbes
China Market Update: Hong Kong Investment Bankers Get Busy, Week In Review
CLN Asian equities were mixed overnight as the Philippines and India outperformed with gains, while Mainland China and Taiwan underperformed. The real fireworks today were after the close with President Trump's European Union (EU) tariff and Apple comments. I suspect the US' increased policy volatility will expedite foreign capital outflows from the US. Apple was a Mainland news item for offering deep iPhone discounts. CNBC reported that China's Vice Foreign Minister Ma Zhaoxu and US Deputy Secretary of State Christopher Landau spoke yesterday. The lack of Western media attention, except for CNBC, likely indicates things are going well! The big news today was the Hong Kong IPO of Jiangsu Hengrui Pharmaceuticals (1276 HK, 600276 CH), which gained +25.2% after raising $1.3 billion from investors. This is another strong signal of Hong Kong's rebound: more mainland companies are relisting in Hong Kong, following CATL's IPO on Tuesday. Hong Kong had a good day, except for CATL's bout of profit-taking, which sent the stock down by -2.24%, despite an afternoon drop in the Mainland that weighed on Hong Kong shares as well. Meanwhile, Hong Kong-listed internet names were mixed, though they did not fall nearly as much as their US-listed counterparts yesterday. The electric vehicle (EV) ecosystem had a good day, led by BYD, which gained +1.97% on news of the company outselling Tesla in Europe, and strong May preliminary auto sales. Tesla's China sales continue to be pressured by local companies. The Mainland market was having a decent day until a sharp sell-off in the afternoon, which pushed indices into the red. Speculation on reasons for the sell-off included US-Iran talks not going well, Israel wanting to attack Iran's nuclear facilities, and the G7 targeting China, though, again, no clear driver. The afternoon fall was interesting, as the PBOC's strong capital injection into the financial markets and chatter of China's insurance companies buying Mainland stocks should be seen as catalysts. Filling the Liberation Day gap continues to be a resistance level for the market. Premier Li presided over a State Council meeting focused on the 'green and low-carbon development of the manufacturing industry' with an emphasis on promoting the implementation of green technologies. President Xi had a phone conversation with German Chancellor Merz. The UFC will return to China with an August event in Shanghai for the first time since 2019. It is interesting that UFC founder Dana White is a supporter of President Trump. JP Morgan's Jamie Dimon met with PBOC Governor Pan Gongsheng today, as the investment bank held its China conference. After the close, discount retailer Miniso Group (9896 HK, MSO US) missed Q1 estimates while online travel agency Tongcheng (780 HK) beat analyst expectations for Q1. Meituan will report Q1 financial results on Monday. New Content Read our latest article: New Drivers For China Healthcare: AI Med-Tech Innovation, Cancer Treatment, & Favorable Balance of Trade Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
RTHK
23-05-2025
- Business
- RTHK
HK stocks end up for sixth straight week of gains
HK stocks end up for sixth straight week of gains The Hang Seng Index ended trading for the day up 56.95 points, or 0.24 percent, at 23,601.26. File photo: RTHK Hong Kong stocks closed roughly flat on Friday, logging a sixth straight weekly gain, underpinned by renewed listing momentum and signs of easing Sino-US trade tensions. The benchmark Hang Seng Index edged up by 56.95 points, or 0.24 percent, to end the day and trading week at 23,601.26. The Hang Seng China Enterprises Index rose 0.31 percent to end at 8,583.86 while the Hang Seng Tech Index fell 0.09 percent to end at 5,246.87. China's blue-chip CSI300 Index ended 0.8 per cent lower, while the Shanghai Composite Index lost 0.9 per cent. For the week, the Hang Seng Index was up 1.1 per cent, while the CSI300 index lost 0.2 per cent. Hong Kong's listing market showed signs of revival in 2025, buoyed by the strong debut of battery giant CATL , which raised US$4.6 billion in the world's largest listing so far this year. Shares of pharma giant Jiangsu Hengrui soared 25 per cent in their Hong Kong debut. The CSI Healthcare Index edged up 0.3 per cent, bucking a broader market decline as most other sectors ended in losses. BYD shares jumped as much as 4.6 per cent after reports showed the Chinese automaker sold more electric vehicles in Europe than Tesla. Auto shares tracked gains and were up 1.7 per cent. Li Auto's shares rose 1.1 per cent. Weakness in China's property sector is expected to persist this year with home prices falling nearly 5 per cent and set to remain stagnant in 2026, a poll showed. China has lowered the ceiling of deposit rates, as authorities seek to protect banks' profit margins and discourage savings. The CSI Bank Index finished 1 per cent lower. Xiaomi said it will start selling its YU7 electric vehicle in July. Its shares were roughly flat after the news. (Reuters/Xinhua)
Business Recorder
23-05-2025
- Automotive
- Business Recorder
Hong Kong stocks set for sixth straight weekly gain on listing momentum
SHANGHAI: Hong Kong stocks rose on Friday and were set for a sixth straight weekly gain, underpinned by renewed listing momentum and signs of easing Sino-US trade tensions. China stocks edged up on the day. China stocks flat, Hong Kong tracks regional peers lower on US fiscal concerns China's blue-chip CSI300 Index inched up 0.3% by the lunch break, while the Shanghai Composite Index gained 0.1%. Hong Kong benchmark Hang Seng was up 0.6%. For the week, the Hang Seng Index is up 1.4% so far, while the CSI300 index added 0.9%. Hong Kong's listing market showed signs of revival in 2025, buoyed by the strong debut of battery giant CATL , which raised $4.6 billion in the world's largest listing so far this year. Shares of pharma giant Jiangsu Hengrui soared more than 30% in their Hong Kong debut on Friday, lifting sentiment across the healthcare sector. The CSI Healthcare Index rose 1.4%. BYD shares jumped nearly 4% after reports showed the Chinese automaker sold more electric vehicles in Europe than Tesla. Auto shares tracked gains and were up over 3%. Li Auto's shares rose 3.2%. A slew of investment banks including Morgan Stanley and UBS raised their forecasts for the Hang Seng Index this month, citing improved corporate earnings and a thaw in Sino-US trade tensions following a tariff truce.
Bloomberg
23-05-2025
- Business
- Bloomberg
Chinese Firms' Stellar HK Debuts Spur Hopes of Valuation Shift
The robust performance of two major Hong Kong stock listings this week has raised hopes that a small group of elite Chinese companies may start driving a shift to end the city's historical discount to mainland markets. The latest addition to the cohort is Jiangsu Hengrui Pharmaceuticals Co., China's largest drugmaker by market value, which surged as much as 37% in its trading debut Friday in the Asian financial hub after raising HK$9.9 billion ($1.3 billion). The company's H-shares briefly commanded a 0.3% premium over its Shanghai-listed A-shares, before reverting to a discount of 4%.
