New Shicoh Motor recently filed a listing application with the Hong Kong Stock Exchange, with CICC and Huatai International as joint sponsors. According to a Frost & Sullivan report, the company is China's largest optical image stabilization imaging motor supplier by 2024 revenue, holding a 20.1% market share. The prospectus shows the company achieved 2024 revenue of RMB 1.565 billion and swung to profitability with a net profit of RMB 105 million.
The Hang Seng TECH Index rose from 4,468.11 points to 5,515.98 points in 2025, achieving a full-year gain of 23.45%.According to New Spacetime Research statistics, the Hang Seng TECH Index currently comprises 30 constituents. In 2025, 22 stocks posted gains with an average increase of 61.63%. Three stocks doubled in value, with nearly half gaining over 50%. Eight stocks declined with an average drop of 15.89%, and five fell more than 10%.
Leadrive Technology recently filed a prospectus with the Hong Kong Stock Exchange for a Main Board listing, with CITIC Securities and Haitong International as joint sponsors. According to Frost & Sullivan, by installed capacity in the first three quarters of 2025, the company's motor controllers ranked eighth, dual-motor controllers ranked third; main drive power bricks ranked second, and power bricks for dual-motor controllers ranked first.
The Hong Kong stock market delivered strong performance in 2025, with the Hang Seng Index advancing 27.77% for the year—its best showing in five years. Among the top-performing constituents, China Hongqiao and Zijin Mining capitalized on rising metal prices to achieve substantial earnings growth, while SMIC benefited from the semiconductor sector recovery, posting 18.20% year-on-year revenue growth in the first three quarters. Conversely, Meituan saw profits tumble amid intensified industry competition, and Li Auto swung from profitability to losses. Institutional analysts believe that with continued policy support and capital inflows, the Hong Kong market is well-positioned to sustain its upward momentum in 2026.
Hongxing ColdChain (Hunan) Co., Ltd. launched its public offering on December 31, 2025, with an issue price of HK$12.26 per share, a board lot of 500 shares, and an entry cost of approximately HK$6,191.83. The company plans to raise approximately HK$252 million and is expected to list on January 13, 2026. As a leading enterprise in the cold chain market in Central China and Hunan Province, the company demonstrates strong regional competitive advantages and profitability through its integrated "warehousing + retail stores" business model. However, it also faces risk challenges such as high regional concentration of its business, continuous decline in operations at its northern base, intensified market competition, and short-term profit pressure brought about by expansion.
TwinSolution Technology recently filed for listing on the STAR Market, with Huatai United Securities as the sponsor. According to Yole data and the company's prospectus, its chip testing interface revenue ranked first in mainland China in 2024, with customers including NVIDIA, Apple and other well-known enterprises. Financial data shows the company's 2024 revenue was RMB 331 million, with a three-year compound annual growth rate of 41.54%, though net profit experienced fluctuations. The IPO proceeds are intended primarily for construction of testing interface and probe card production bases, R&D center projects, and working capital supplementation.
EACON Group recently filed another listing application with the Hong Kong Stock Exchange, with Guotai Haitong Securities as the sole sponsor. According to Frost & Sullivan, the company is China's largest provider of autonomous driving solutions for mining areas by number of active mining trucks and 2024 revenue. The prospectus shows 2024 revenue of RMB 986 million and a three-year compound annual growth rate of 305.8%, though net losses continued to widen during the reporting period.
OneRobotics (stock code: 06600.HK) was listed on the Hong Kong Exchanges and Clearing Limited (HKEX) on December 30. On the following day, its shares closed 9.21% higher at HK$80.65, with a market capitalization of nearly HK$18 billion, earning it the title of "the first AI Embodied Home Robot Stock". Founded in Shenzhen in 2015, the company is headquartered in the city and houses its global sales and intelligent computing hubs in Hong Kong, focusing on the R&D of AI home robots. It has secured strategic investment from the Hong Kong Investment Corporation Limited (HKIC) as well as early backing from renowned semiconductor experts Li Zexiang and Gao Bingqiang.
On December 30, 2025, Knowledge Atlas (02513.HK) officially launched its public offering, which will close on January 5, 2026, with an expected listing date of January 8, 2026. The offer price has been set at HK$116.20 per share, with a board lot of 100 shares, an entry cost of approximately HK$11,737.19, and a total fundraising amount of about HK$4.17 billion. Newtimespace observes that as one of the few domestic companies with full-stack, self-developed capabilities in large models, Knowledge Atlas is at the forefront in terms of technical prowess, open-source ecosystem, and commercialization efforts. However, it faces risks such as intense market competition and inclusion on the U.S. "Entity List," making its post-listing growth trajectory a key focus for market attention.
On December 30, 2025, Insilico Medicine, hailed as "the first AI-driven pharmaceutical stock on the Hong Kong stock market" and a strategic investment of the Hong Kong Investment Corporation Limited (HKIC), was listed on the Main Board of the Hong Kong Exchanges and Clearing Limited (HKEX). With a total fundraising of HK$2.277 billion, it has claimed the title of the largest IPO in the biopharmaceutical sector of the Hong Kong stock market in 2025, and its share price delivered an impressive performance on the debut day. It is reported that Biren Technology, another portfolio company of HKIC, is also set to list on the HKEX on January 2, 2026, which indicates that the effectiveness of HKIC’s diversified strategic investment layout continues to unfold.
On December 30,2025,NewTimeSpace,an AI-powered international financial media outlet,launched its English version.It provides bilingual (Chinese and English) financial information, covering niche areas such as IPOs and ETFs, and connects Chinese enterprises with global capital.
Knowledge Atlas(02513.HK) announced that it will conduct an IPO from December 30, 2025 to January 5, 2026, planning to globally offer 37.4195 million H shares, with an offer price of HK$116.20 per share. The H shares are expected to start trading on the Hong Kong Stock Exchange at 9:00 a.m. on January 8, 2026.
On December 30, 2025, Hong Kong's three major indices fluctuated and strengthened. The Hang Seng Index closed up 0.86%, the Hang Seng Tech Index rose 1.74%, and the Hang Seng China Enterprises Index climbed 1.12%. The total market trading volume reached HK$199.769 billion, with a net outflow of HK$3.845 billion in Southbound Capital.
