On April 10, 2024, CBI released the "Hong Kong IPO Listing and Application - 2024 Q1 Key Review" report. The Hong Kong IPO market remained weak in Q1, with only 12 new listings and a total fundraising of HK$4.73 billion, marking a YOY decline of 29%. However, the IPO applications has recorded an increase of 23%, with 64 applications submitted to the Stock Exchange in Q1. Among these applications, 29 were initial submissions by new applicants, showing a 93% increase compared to 2023 Q1. There has been an increase in the number of sponsors actively involved in IPO projects.

The statistics may indicate initial signs of recovery in the Hong Kong IPO market. Whether these IPO projects can pass the listing hearings and proceed with public offerings will be crucial for the market's recovery in remaining quarters of 2024. For more details, please refer to our full report: https://shorturl.at/oxQ37