Chinese Companies Delay Hong Kong IPOs in Succession as Overheated Market Normalizes

トレーダーズ・ウェブ··HKCNUS·Read original
3▲2 ▼0Impact / 5
Summary · why it matters

A wave of postponed Hong Kong initial public offerings by Chinese companies is signaling that an overheated market is beginning to normalize. In Hong Kong trading on the afternoon of the 30th, Citi raised its target price for Guangzhou Automobile Group while maintaining a neutral rating, and JPMorgan initiated coverage of Chery Automobile with an overweight rating. Nomura pointed to accelerating licensing of Chinese new drugs by U.S. companies as a reason for its bullish view on drug discovery-related shares, while Citi issued a buy rating on Xiaomi, expecting a recovery in smartphone margins and an expansion of its EV business through new model launches. Share buybacks in the Hong Kong market totaled 28.6 billion yen across 97 stocks, and Shenzhen Hichain Technology closed at 215.2 Hong Kong dollars on its debut, up 265.7 percent from its offer price. In China, Standard Chartered flagged the possibility of additional monetary easing including cuts to the reserve requirement ratio, and DeepSeek released foundational software for Huawei's Ascend chips, taking a step toward reducing reliance on Nvidia.

Impact on assets 7

Electrification & Mobility▲
Xiaomi Corp
1810
▲ PositiveCapitalrelevance

Citi issued a buy rating on Xiaomi, expecting smartphone margin recovery and EV expansion via new model launches.

Digital Finance & Tokenization▲
Financials▲
Artificial Intelligence▲
Others▲

Off-coverage companies 2

DeepSeeki
Private± Mixedrelevance

深圳市欢创科技股份有限公司i
Private± Mixedrelevance