On March 9, Shenzhen Creality 3D Technology Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange, with CICC as the sole sponsor. According to Frost & Sullivan, in terms of GMV in 2024, the company ranked second globally in the consumer 3D printer market, first globally in the consumer 3D scanner market, and third globally in the consumer laser engraver market. It is the only major player in the global 3D creativity industry that provides consumer-grade 3D printing, 3D scanning and laser engraving products and services simultaneously.
Recently, the launch of OpenClaw has rapidly ignited market enthusiasm, marking AI's leap from mere "conversational interaction" to "autonomous execution agents." As agents handle increasingly complex tasks, their reasoning depth and invocation chains continue to extend, directly driving exponential growth in underlying token consumption.
MIRXES-B (02629.HK), which holds the world’s only approved gastric cancer early screening IVD product, has recently encountered a capital winter. As of March 9, 2026, the share price stood at HK$14.81, down over 36% from its IPO price and 66.37% YTD, with its market capitalization shrinking to HK$4.417 billion. Although the core business gross margin rose to 67.6% in H1 2025, the company has yet to escape its loss-making predicament, with cumulative losses exceeding US$200 million from 2022 to 2024. In early 2026, it raised HK$711 million through a placement and partnered with XtalPi to create an "AI + Early Screening" closed loop, while cornerstone investors committed to a lock-up to bolster market confidence.
US President Trump hinted that US-Israeli military operations against Iran might be nearing an end, triggering a late-session market reversal. The semiconductor sector strengthened, with the Philadelphia Semiconductor Index (SOX) climbing 3.93%
As the "Subscription King" of the 2025 Hong Kong IPOs, Chery Automobile (09973.HK) has faced a capital market cold shoulder less than six months after its listing. As of March 6, 2026, its share price hit a new low of HK$25, down approximately 18.70% from its HK$30.75 offer price, with total market cap shrinking to HK$145.2 billion.Significant Sales Decline: 2026 started poorly, with cumulative sales for Jan-Feb down 12.5%. Aside from the core Chery brand, Exeed, Jetour, and iCAR all saw major slowdowns, while the Huawei-partnered Luxeed brand saw February sales plunge by 90.6%.Pressure on Export Dividends: Turmoil in the Middle East may pose a direct blow to a core overseas market that accounts for nearly 18% of Chery's exports.
Amid geopolitical tensions and a challenging international landscape, the semiconductor market has experienced a severe downturn recently. Last Friday, the Philadelphia Semiconductor Index (SOX) plunged nearly 4% to close at 7,514, marking a weekly decline of 7.21%.
On March 5, Ligent Technologies resubmitted its listing application to the Main Board of the Hong Kong Stock Exchange, with Citigroup Global Markets Asia Limited and CITIC Securities (Hong Kong) as joint sponsors. As a leading global supplier of optical communication and optical connectivity products, the company specializes in the R&D, manufacturing and sales of optical modules, optical chips and optical network terminals.
On March 5, 2026, IFBH (06603.HK), the "first stock of coconut water," saw its share price close up 11.06% at HK$11.65 after officially denying the "added sugar" allegations. Despite the rebound, nearly HK$10 billion of the company's market value has evaporated within eight months of listing, a drop of over 70% from its post-IPO peak. In 2025, IFBH faced core financial and operational pressures, with expected net profit down 27%-32%, operating cash flow shrinking by 70.5%, and accounts receivable surging by 173%. The company is highly dependent on the single brand "if" (94.5% of revenue) and the Mainland China market (90.4%).
Yesterday, escalating geopolitical conflicts drove oil prices higher again, increasing inflation risks. The U.S. Dollar Index surged to 99.41 at one point, pressuring gold prices to pull back. By market close, COMEX gold futures fell 0.81% to $5,093.30 per ounce.
NewTimeSpace: Ligent Technologies, Inc. submitted a listing application to the Hong Kong Stock Exchange on March 5, with Citigroup and CITIC Securities as joint sponsors. As a global supplier of optical communication and optical connectivity products, the company was ranked 5th among global pure-play players by optical module revenue in 2024.
On March 2, 2026, Glorysoft (Shanghai) Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange, with Guotai Junan International and Minsheng Bank Capital as joint sponsors.As a leading provider of intelligent manufacturing software solutions for China’s pan‑semiconductor industry, Glorysoft focuses on delivering self‑developed computer integrated manufacturing systems to advanced manufacturing sectors including semiconductors, display panels, PCBs and photovoltaics.According to Frost & Sullivan, by revenue in 2024, the company ranked second in China’s pan‑semiconductor IMSS market with a market share of approximately 11.7%, and is also the largest domestic player in the sector.
Innogen Pharmaceutical-B, which once claimed the title of "Oversubscription King" on the HKEX in 2025, has recently faced a sluggish capital market. As of the close on March 4, 2026, its share price stood at HK$22.28, with a cumulative drop of nearly 20% over the past three days—just a step away from its HK$18.68 offer price. The company’s total market value has shrunk by over HK$10 billion from its early post-listing high to approximately HK$10.18 billion. The company's R&D is highly dependent on a single GLP-1 mechanism. The much-anticipated "weight loss indication" is not expected to complete clinical trials until Q4 2026, with approval potentially pushed to 2027.
On Thursday, Asia-Pacific equities rebounded strongly, reversing the sharp declines seen in previous sessions. Market sentiment improved as overnight gains in U.S. stocks combined with easing investor concerns over Middle East conflicts and oil price spikes.
On March 3, Star Sports Medicine Co., Ltd. submitted a listing application to the Hong Kong Stock Exchange, with CITIC Securities and CCBI International as joint sponsors.According to Frost & Sullivan data, based on 2024 sales revenue, the company was the fourth-largest sports medicine device provider in China, with a market share of approximately 6.5%, and is also the largest domestic brand in the sector.
South Korean stocks faced another "Black Wednesday," potentially impacted by US-Israeli strikes on Iran. On March 4, the Korean market fluctuated lower, with the Korea Composite Stock Price Index (KOSPI) plunging nearly 13% intraday, triggering the "circuit breaker" mechanism for the second consecutive day.
As the "first Data Agent stock on the HKEX," Xunce (03317.HK) has demonstrated strong share price performance since its listing at the end of 2025. As of March 3, 2026, the closing price was HK$77.45, up 61.35% from the offer price, and it was included in the Hang Seng Composite Index in just 45 days. However, the enthusiasm in the secondary market cannot hide its fundamental pressures. Core financial and operational warnings: revenue in the first half of 2025 decreased by 30% year-on-year, and the loss for the period expanded to RMB 108 million. R&D expenses remain high, consistently accounting for over 70% of revenue.
