Latest news with #YanJun
South China Morning Post
2 days ago
- Business
- South China Morning Post
Why Hong Kong is China's undisputed hub for global finance, at Shanghai's expense
When Yan Jun was looking around last year for a stock market to raise capital for his Beijing-based traffic-control software company, the engineer and chairman thought he was spoiled for choice. He could sell shares of his 10-year-old company AICT on one of the three mainland exchanges – Beijing, Shanghai and Shenzhen – that together make up the world's second-biggest capital market, with a combined value of US$10 trillion, according to Bloomberg data. Or he could raise capital offshore by selling shares in Hong Kong's nearly US$6.2 trillion market , the world's fourth-largest. New York – a welcoming possibility at first – lost its appeal early this year when US President Donald Trump unleashed a new wave of trade hostilities and animosity towards Chinese companies. In the end, the choice was clear: Hong Kong won because of its access to 'international capital and strong connectivity to global markets', Yan said. The city, where he earned his doctorate in business administration, would also be the launching pad for his business abroad, he added. AICT's products are used in sensing robots, intelligent traffic systems and autonomous driving. Photo: Handout Yan is not alone. Since the summer of 2024, a series of mainland companies have made similar calculations and turned to Hong Kong's stock exchange for capital infusions.
South China Morning Post
08-04-2025
- Business
- South China Morning Post
Chinese AI firm AICT to submit Hong Kong IPO application by month's end
A Beijing-based artificial intelligence (AI) company is moving forward with its plan to list in Hong Kong, despite the benchmark Hang Seng Index's biggest one-day decline in nearly three decades amid an escalating global trade war. Advertisement AICT, which specialises in high-precision AI technologies applied in traffic control and parking across more than 50 cities in mainland China, said it would submit its listing application to the Hong Kong stock exchange by the end of this month and subsequently apply to China's securities regulator for overseas listing approval. AICT hopes to raise at least US$200 million from the initial public offering (IPO), according to Yan Jun, the founder and chairman. 'I'm optimistic about the Hong Kong stock market,' said Yan. He added that while the company was still watching the situation, AICT aimed to first 'get on the runway' – referring to its IPO application. 04:47 US tariff storm disrupts global business expansions, but some see opportunities US tariff storm disrupts global business expansions, but some see opportunities 'Once we're on the runway, if the environment improves or stabilises, we'll be ready to proceed. But if we're not even on it, the market condition – good or bad – won't matter to us.' Advertisement The financial market turmoil triggered by US President Donald Trump's sweeping tariffs dragged the Hang Seng Index to its worst single-day loss since October 1997, while Japan's Nikkei 225 index officially entered a bear market.
