On March 16, SmartMore Inc. officially filed for a Hong Kong IPO. Founded by Dr. Jia Jiaya and backed by the HKIC, the firm reported 2025 revenue of RMB 1.086 billion. Its proprietary IndustryGPT model now serves over 730 global clients, including Tesla and Zeiss. IPO proceeds will primarily fund R&D for industrial multi-modal models and accelerate international commercial expansion.
Affected by the surge in gold prices (breaking $5,100/oz) and the subsequent suppression of consumer demand, Zhou Liu Fu’s (06168.HK) share price continues to decline. As of the close on March 13, 2026, it was quoted at HK$21.28, down nearly 10% from its IPO price, with its market cap shrinking approximately 60% from its November 2025 peak to HK$9.376 billion. In H1 2025, revenue was RMB 3.15 billion and net profit was RMB 415 million. While maintaining double-digit growth, the revenue growth rate has slowed significantly from the 66% seen in 2023. Online channel revenue has surpassed 50% for the first time, becoming the new growth engine.
The key to GEO in financial marketing lies in "logical alignment." By leveraging Yoyi Link's GEOPlus across its three-layer architecture of information, data, and dissemination, official viewpoints are transformed into structured assets comprehensible to AI, thereby enhancing retrieval weight.
As the 2025 "Oversubscription King" under the HKEX Chapter 18C rule, Deepexi Technology (01384.HK) has recently experienced severe share price volatility. As of March 12, 2026, it closed at HK$69.80, with a single-day drop of 15.60% and a cumulative crash of nearly 40% over five trading days, reducing its market cap to HK$22.8 billion. While revenue is strong, losses persist; the company expects 2025 revenue of RMB 401M to 425M (up 65%-75% YoY), with core FastAGI growth exceeding 175%. However, estimated net losses remain as high as RMB 905M to 965M, bringing cumulative losses over the last four years to over RMB 3 billion.
AI search exposes SEO compliance risks. YouLianCloud GEOPlus builds L3 defense with agents and semantic data, ensuring accurate delivery as 2026 finance standard.
Delton Technology (Guangzhou) Inc. (01989.HK) launched its H-share IPO on March 12, 2026. The offer price is HK$71.88 per share, with 100 shares per hand and an admission fee of HK$7,260.49. The Company is expected to list on the Main Board of the Hong Kong Stock Exchange on March 20, 2026.According to Frost & Sullivan, ranked by cumulative revenue from computing server PCB from 2022 to 2024, the Company ranked third globally and first among all manufacturers headquartered in Chinese mainland.
Since its simultaneous listing on the capital markets of Hong Kong and Kazakhstan in August 2025, Jiaxin International Resources has seen its share price continue to climb on the strength of its core asset—the Bakuta Tungsten Mine, the world's largest open-pit tungsten trioxide ($WO_3$) mine. As of March 11, 2026, the share price stood at HK$151.5, representing a cumulative gain of over 12 times from its offer price of HK$10.92, with a total market capitalization of HK$69.04 billion. It was officially included in the Stock Connect on March 9. Benefiting from the official start of commercial production in April 2025 and the surge in global tungsten prices, the company expects to achieve a net profit of HK$300 million to HK$340 million in 2025, turning a profit from a loss.
Iluvatar CoreX (09903.HK), a domestic general-purpose GPU enterprise, listed on the Hong Kong Stock Exchange in January 2026. Boosted by the explosion in demand for AI agents and inference computing, the share price closed at HK$338.20 on March 10, up 133.89% from its offer price, with a market cap of HK$86.01 billion. The company achieved mass production of its "Tiangai" and "Zhikun" series using a 7nm process, building a "Cloud-Edge-Terminal" full-scenario computing matrix. As AI development shifts toward the inference phase, the gap between domestic GPUs and international giants is narrowing. It is estimated that by 2029, the localization rate of China's GPGPU market will rise from the current 3.6% to 31%.
Recently, Jinxin Eldercare Industry Group Limited submitted a listing application to the Hong Kong Stock Exchange, with CICC and GF Securities as joint sponsors.According to Frost & Sullivan, as of September 30, 2025, the Company ranked first among all major participants in China in terms of the proportion of elderly residents with mobility impairments and occupancy rate of integrated medical and elderly care facilities, both standing at 85%.
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.
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.
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.
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%).
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.
