Media OutReach
Hong Kong reclaims top global IPO spot in 2025, says KPMG
Record A+H listings drive historic year, pipeline of over 300 signals sustained momentum into 2026
HONG KONG SAR – Media OutReach Newswire – 10 December 2025 – Hong Kong has reclaimed the top spot in global IPO market rankings for the first time since 2019, driven by a record number of A+H listings that contributed over half of total funds raised, according to KPMG’s latest Chinese Mainland and Hong Kong IPO Markets 2025 Review and 2026 Outlook. With an all-time high of more than 300 active IPO applications in the pipeline as at 7 December 2025 – including 92 active A+H listing applicants – Hong Kong is well positioned to maintain its IPO momentum into 2026.
In 2025, global IPO markets raised USD158.4 billion across 1,227 deals, reflecting a 18% rise in funds raised and a 4% drop in deal volume compared to 2024. Hong Kong led the way, followed by the US stock exchanges in second and third place, which saw their combined fundraising grow by 18% year-on-year. Rounding out the top five were the National Stock Exchange of India and the Shanghai Stock Exchange, securing the fourth and fifth places, respectively.
Paul Lau, Partner, Head of Capital Markets and Professional Practice, KPMG in China, says, “Key global IPO markets have trended upwards in 2025 with Hong Kong’s threefold increase in funds raised making it the largest single contributor to the global IPO market’s recovery and reaffirming its status as a leading international financial centre. Buoyed by this momentum and a backlog of potential IPO candidates, we expect this upward trend to continue into 2026. In particular, the pace of AI-related listings is poised to accelerate as the technology matures and is adopted more widely across various industries.”
The A-share market continues its steady development, expected to raise RMB163.7 billion across 130 deals, representing a 23% growth in funds raised while deal volume remained stable compared to 2024. The listing of 20 Real Estate Investment Trusts (REITs) remains a significant driver, securing RMB41.0 billion in funding, which accounts for 25% of the total A-share proceeds in 2025.
The Shanghai Stock Exchange STAR Market saw substantial reforms during the year, including the launch of a science and technology innovation growth tier in July. Since then, 3 pre-profit companies – primarily from the semiconductor and biotechnology sectors – have been listed in the growth tier. These reforms aim to help early-stage, high-quality companies utilise capital to accelerate the commercialisation of technology and enhance overall industrial capabilities.
Irene Chu, Partner, Head of New Economy and Life Sciences, Hong Kong SAR, KPMG in China, says: “The A-share IPO market posted steady gains in 2025. The 15th Five-Year Plan deepens the reform for China’s capital markets, with inclusiveness and coordinated investment and financing at the core of market reforms. As these strategic priorities take hold, we expect the authorities to prioritise and sustain their efforts to foster steady, high-quality growth in the A-share market for years to come.”
The Hong Kong IPO market delivered a standout performance in 2025, with funds raised expected to reach HK$272.1 billion across 100 listings. This would represent increases of 210% and 43% respectively compared to 2024, marking the strongest year in terms of funds raised since 2022. The growth was driven by the rise of A+H listings, which accounted for half of total IPO funds raised.
A record 17 A+H listings were completed in 2025, the highest number on record, highlighting Hong Kong’s strength as a bridge between domestic and global capital pools. The surge was fueled by strong government policy support and the momentum established by successful mega-sized A+H listings recently. Among them, the world’s largest EV battery manufacturer raised HK$41.0 billion through its A+H listing, making it the largest IPO globally in 2025.
The city hosted 14 pre-revenue biotech listings (Ch.18A) in 2025, up from 4 in 2024, along with 3 specialist technology listings (Ch.18C), on par with the previous year. The launch of the Technology Enterprises Channel (TECH) and the option for confidential submissions for Ch.18A and Ch.18C companies, has streamlined and improved the listing process. These improvements underscore the city’s dedication to fortifying its status as a leading global listing platform.
Active IPO applications in Hong Kong reached a record 316 as at 7 December 2025, a 267% increase from the end of 2024. Within this pipeline, 92 are A+H applications. When combined with A-share companies that have announced their intention to list in Hong Kong, we may be seeing over a hundred A+H listings applications in the near future, providing an anticipated robust start to 2026.
Amendments to the eligibility requirements for companies with weighted voting rights (WVR) structures are currently being considered, with potential enhancements including: lowering market capitalisation requirements, revising the Innovative Company definition, and adjusting voting power restrictions. These changes aim to enable more companies to utilise the regime and afford greater flexibility for founders. A crucial aspect will be striking the right balance between offering flexibility to potential issuers and safeguarding investor interests.
Louis Lau, Partner, Head of Hong Kong Capital Markets Group, KPMG in China, says: “Hong Kong’s return to the top of global IPO rankings has demonstrated the resilience of its capital market and its role as an international financial centre. We are witnessing a steady influx of tech and biotech firms opting to list in Hong Kong, drawn by the city’s supportive policies and stable regulatory environment. Rising participation from foreign investors further emphasises Hong Kong’s growing appeal as a gateway to Chinese assets and high-tech investment opportunities. As policies continue to promote innovation and new economy sectors, aside from the continued momentum from A+H listings, we also expect 2026 to be a pivotal year for high-tech listings, further solidifying Hong Kong’s position as a global capital markets leader.”
Remark: All figures and data referenced in this press release and the related report are as at 7 December 2025, adjusted for confirmed listings up to 31 December 2025.Hashtag: #KPMG
The issuer is solely responsible for the content of this announcement.
About KPMG
KPMG in China has offices located in 31 cities with over 14,000 partners and staff, in Beijing, Changchun, Changsha, Chengdu, Chongqing, Dalian, Dongguan, Foshan, Fuzhou, Guangzhou, Haikou, Hangzhou, Hefei, Jinan, Nanjing, Nantong, Ningbo, Qingdao, Shanghai, Shenyang, Shenzhen, Suzhou, Taiyuan, Tianjin, Wuhan, Wuxi, Xiamen, Xi’an, Zhengzhou, Hong Kong SAR and Macau SAR. It started operations in Hong Kong in 1945. In 1992, KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland. In 2012, KPMG became the first among the “Big Four” in the Chinese Mainland to convert from a joint venture to a special general partnership.
KPMG is a global organisation of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organisation or to one or more member firms collectively.
KPMG firms operate in 142 countries and territories with more than 275,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.
Media OutReach
“The Olympics of Astrophysics and Space Science” APRIM2026 Makes Hong Kong Debut
Gathering Global Experts Delivering Insights from the forefront of Space Science and Sustainability
HONG KONG SAR – Media OutReach Newswire – 16 February 2026 – In a landmark development for the region’s scientific community, Hong Kong has been selected to host the Asia-Pacific Regional IAU Meeting (APRIM) for the first time. Dubbed the “The Olympics of Astrophysics and Space Science,” this prestigious event will take place from May 4 to 8, 2026, at the Hong Kong Convention and Exhibition Centre (HKCEC).
Organised by the International Astronomical Union (IAU) and hosted by The University of Hong Kong’s Laboratory for Space Research (LSR), the conference will feature Nobel and Shaw laureates, together with other distinguished scientists from around the world. As a leading astronomical gathering in the Asia-Pacific, the event represents a significant milestone for Hong Kong, underscoring its pivotal role in fundamental research, STEM education, and international collaboration.
A Convergence of Minds in a Burgeoning Space Hub
Professor Quentin Parker, Chair of the APRIM2026 and Director of the HKU Laboratory for Space Research, noted that bringing the “The Olympics of Astrophysics and Space Science” to Hong Kong demonstrates the city’s capacity to serve as a global nexus for astrophysics and space science.
“As Chair of this historic meeting, I am honoured to welcome the global Astrophysics and Space Science community to Hong Kong. We aim to use this platform not only to showcase our city’s capabilities in the ‘New Space’ era but to inspire the next generation of scientists to pursue the unknown,” said Prof. Parker.
Professor Xue Suijian, former Deputy Director of the National Astronomical Observatories of the Chinese Academy of Sciences, attributed the IAU’s decision to Hong Kong’s highly international environment and academic excellence. He highlighted the city’s growing contributions to deep-space exploration, planetary science, and big data analysis, cementing its role as a bridge for international scientific exchange.
Bridging Fundamental Research and Future Possibilities
While rooted in academic rigour, APRIM 2026 also addresses the paradigm shift from government-led initiatives to the democratised era of “New Space.” The conference offers a platform that links theoretical astrophysics with real-world applications.
Aligning with the global scientific agenda, the conference is expected to bring together nearly 1,000 experts. Discussions will span from the origins of the universe to emerging directions in space exploration, covering key areas such as Planetary Science, Stellar Evolution, and Cosmology. The event will also seek to bridge academia and industry, exploring how frontier technologies can contribute to addressing global challenges.
Championing Space Sustainability
A defining feature of APRIM2026 is its focus on “Space Sustainability.” With the growing density of satellite constellations in low Earth orbit, the scientific community faces urgent challenges, particularly in relation to space debris and light pollution.
Through dedicated sessions and public engagement, the conference will tackle these critical issues, advocating for responsible stewardship of the cosmic environment. By integrating these discussions with outreach sessions including youth-focused workshops, the event aims to cultivate a scientifically literate generation ready to steward the future of space exploration.
Professor Luis C. Ho, Director of the Kavli Institute for Astronomy and Astrophysics at Peking University, described the meeting as a vital platform for strengthening Asia-Pacific research collaboration. He noted that the event marks a shift from pure fundamental research to industrial application, allowing high-tech solutions to serve the public and open the “blue ocean” of the space economy.
The issuer is solely responsible for the content of this announcement.
About the Organisations
International Astronomical Union (IAU) The IAU brings together over 13,000 professional astronomers from more than 85 countries. Its mission is to promote and safeguard the science of astronomy in all its aspects through international cooperation. For more information, please see the following link.: https://iau.org
HKU Laboratory for Space Research (LSR) is an interdisciplinary center at The University of Hong Kong dedicated to advancing space science, planetary research, and high-energy astrophysics through satellite research and academic collaboration. For more information, please see the following link.: https://www.lsr.hku.hk
Diamond Sponsor
- The Shaw Prize
Gold Sponsor
- Center for Space Utilization, Chinese Academy of Sciences (CSU)
Bronze Sponsor
- Hong Kong (International) Aerospace Charitable Foundation
Organisers
- Laboratory for Space Research of the University of Hong Kong (LSR)
- International Astronomical Union (IAU)
Official PR
- MEMO PLUS PR & CONSULTANTS
Supporting Organisations
- Feilong Aerospace Technology Ltd
- Orion Astropreneur Space Academy (OASA)
- Hong Kong Tourism Board
- Purple Mountain Observatory, Chinese Academy of Sciences
- The University of Hong Kong (HKU)
- Kavli Institute for Astronomy and Astrophysics at Peking University (KIAA-PKU)
- Satcom Industry Association (SIA-India)
- National Astronomical Observatories, Chinese Academy of Sciences (NAOC)
- International Centre for Radio Astronomy Research (ICRAR)
- International Space Centre at the University of Western Australia (ISC)
- Hong Kong Laureate Forum
- Our Hong Kong Foundation
- National Institutes of Natural Sciences (NINS)
- National Astronomical Observatory of Japan (NAOJ)
- Hong Kong Institute of Science & Innovation, Chinese Academy of Sciences
- Academia Sinica Institute of Astronomy and Astrophysics (ASIAA)
- Three Country Trusted Broker (TCTB)
- United Nations Office for Outer Space Affairs (UNOOSA)
Media OutReach
Ushering in a Year of Prosperity: Celebrating Thailand’s Chinese New Year Festival Siam Paragon Joins Forces with TAT and Kasikornbank to Launch “Siam Paragon A Prosperous Chinese New Year 2026”
Showcasing Spectacular Entertainment and Chinese Cultural Performances, Featuring Renowned Chinese Artist “Zhu Zhengting” to Bless the People of Thailand in the Heart of the City
BANGKOK, THAILAND – Media OutReach Newswire – 16 February 2026 – Siam Paragon, Thailand’s premier global landmark and the top destination in the hearts of Thai people and international tourists, has partnered with the Tourism Authority of Thailand (TAT) and Kasikornbank, ushers in a grand celebration for the Year of the Horse. The event “Siam Paragon A Prosperous Chinese New Year 2026,” bringing an array of rare cultural performances from China to offer a magnificent experience in the heart of Bangkok, The celebration also features special performances by leading Thai artists and an exclusive appearance from Chinese superstar “Zhu Zhengting,” who flew in to deliver New Year blessings to Thai fans at Parc Paragon, Siam Paragon.
The Grand Opening Ceremony, held on 14 February 2026, was honored by the presence of Atthakorn Sirilatthayakorn, Minister of Tourism and Sports, alongside Mr. Han Zhiqiang, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Thailand, who both joined in delivering Chinese New Year blessings. Also in attendance were Thapanee Kiatphaibool, Governor of the Tourism Authority of Thailand (TAT); Chadatip Chutrakul, Chief Executive Officer of Siam Piwat Group; and Mayuree Chaipromprasith, President of Corporate Affairs and Communications at Siam Piwat Co., Ltd., all gathered amidst a grand and festive atmosphere. The event captivated the audience with special performances, including “Chinese New Year Welcome Dance” from China and the “Siam Noble Steed Dance” from Thailand, symbolizing the deep-rooted ties between the two nations. The celebration also featured rare and exquisite Chinese cultural showcases from four renowned troupes originating from Beijing, Chongqing, Henan, and Fujian.
The highly anticipated highlight was the appearance of renowned Chinese artist “Zhu Zhengting,” who joined the festivities to wish fans wealth, happiness, and prosperity for the year ahead, while delivering a special performance as a New Year gift. Additionally, the celebration featured mini-concerts by leading Thai T-Pop artists, including Better Weather and Daou Pittaya, who brought joy and left a lasting impression amidst the spectacular sight of giant auspicious lanterns illuminating the entire of Parc Paragon.
The grand celebration of “Siam Paragon A Prosperous Chinese New Year 2026″ presents a magnificent parade of entertainment to deliver joy and prosperity for the Year
of the Horse, running from today until 18 February 2026. In addition to the spectacular colors of giant auspicious lanterns and exquisite cultural performances from the People’s Republic of China, there are concerts from leading Thai artists performing on a rotating schedule to provide non-stop fun at Parc Paragon and Fashion Hall.
The lineup includes:
- 15 February 2026: Enjoy performances by HERS and MEAN Band;
- 16 February 2026: Meet 2Ectasy, Jeffy, Kakagoesbackhome, and Slapkiss;
- 17 February 2026: Have fun with SERIOUS BACON and Klear;
- 18 February 2026: Concluding with Wanyai and OABNITHI.
Simultaneously, Siam Paragon is packed with activities to enhance luck and wealth across various areas, featuring many more highlights such as:
- Be mesmerized by the art installation “The Fortune Guardians,” depicting a pair of lions in a rhythmic and lively spirit of celebration, created by Suthipa Kamyam, a renowned artist and illustrator who has collaborated with numerous international brands. She has transformed the Jewel zone and Cascade on the M Floor into an artistic landmark for the Chinese New Year, symbolizing the opening of gates to welcome positive energy, inviting luck and joy to flow in and reach all visitors.
- The Sculpture Exhibition by Ren Zhe: This exhibition features the work of the renowned Chinese sculptor, celebrated for his masterful fusion of Eastern cultural roots with a contemporary global perspective. His powerful sculptures are imbued with dynamic movement, harmoniously communicating Eastern philosophical values through modern materials. The exhibition will be on display from 5 March 2026 at the Glass Wall on the M Floor.
- NEXTOPIA, the prototype for the world of tomorrow, welcomes the Chinese New Year festival with the heartwarming concept “Let Good Things Grow: Lucky in Love, Lucky in Green.” This initiative invites everyone to share positive energy through self-care, meaningful connection with others, and sustainable growth alongside the planet. Visitors can immerse themselves in contemporary interactive activities and workshops that are engaging and accessible to all ages. We invite you to fulfill your special moments at NEXTOPIA with eco-friendly, heart-healthy menus amidst a romantic atmosphere and melodies —perfect for hanging out until midnight.
- For those seeking spiritual guidance and an opportunity to give back, the Siriwattana Cheshire Foundation under the Royal Patronage of Her Majesty the Queen presents the “Siriwattana Fortune Telling for the Disabled” charity event. To welcome the Year of the Horse, the event features 40 renowned experts specializing in various disciplines. The event takes place from February 13–20, 2026, at Crystal Court, 2nd Floor (North Zone), Siam Paragon, from 10:30 AM to 7:00 PM. Fortune-telling tickets are available at the venue for 400 THB.
Beyond the exceptional experiences offered across all zones, Siam Paragon delights shoppers with the exclusive “A Prosperous Chinese New Year 2026,” promotion, running from today until 22 February 2026, featuring discounts of up to 50% at participating stores. Shoppers meeting the spending requirements can receive Siam Gift Cards and Paragon Department Store Cash Coupons with a total value of up to THB 1,700. Special privileges are also available for Kasikornbank credit cardholders, while ONESIAM members can earn 4x ONESIAM Coins upon qualifying spend, along with up to 15% credit cashback from participating credit cards, or 0% interest installments for up to 6 months on Siam Gift Card purchases.
Additionally, the special “Lucky with Love” promotion will run from today until 17 February 2026. Shoppers meeting the spending requirements can redeem Siam Gift Cards and Paragon Department Store Cash Coupons with a total value of up to THB 31,800, plus an additional bonus of up to 1,550 ONESIAM Coins when spending via ONESIAM KBank Credit Cards. Furthermore, purchases of THB 2,000 or more will be rewarded with an extra Ang Pao (containing gift vouchers or discount coupons from participating stores). For top spenders at participating luxury brands, an exceptional prize of 2 Baht weight of gold, valued at THB 149,500 (price as of 26 January 2026), will be awarded to those with a cumulative spend of THB 4 million or more.
Experience the grandeur of the Chinese New Year celebration, a spectacular and radiant start to a prosperous Year of the Horse at “Siam Paragon A Prosperous Chinese New Year 2026.” Join the festivities at Siam Paragon from today until 20 February 2026. For more information, please visit Facebook: SiamParagon
Hashtag: #SiamParagon #SiamParagonCNY2026
The issuer is solely responsible for the content of this announcement.
Media OutReach
CaoCao Inc. Robotaxi Fleet Hits 100 Vehicles, Marking a New Step Toward Driverless Commercial Operations at Scale
As Geely Holding Group’s primary commercial platform for Robotaxi operations, CaoCao has laid out a clear three-phase roadmap, with each stage corresponding to a different level of technological maturity and operational goals. The initial phase focuses on technology validation and small-scale pilot operations. The current phase is aimed at completing the transition from safety-driver-based services to fully driverless operations, while trialing mixed fleets of human-driven and autonomous vehicles. In the final phase, CaoCao plans to roll out fully purpose-built Robotaxis and pursue large-scale commercial operations globally.
The deployment of a 100-vehicle Robotaxi fleet in Hangzhou marks an important early milestone in CaoCao’s Robotaxi 2.0 phase. As the fleet scales up, the company will further validate service reliability, refine operational processes and enhance the passenger experience. CaoCao has also brought the world’s first Green Intelligent Mobility Hub online in the city. Equipped with automated battery swapping, self-cleaning, in-vehicle tidying, intelligent dispatching and automated billing, the hub is designed not only to support day-to-day fleet operations, but also to strengthen CaoCao’s capabilities in large-scale automated Robotaxi operations.
Next, CaoCao will gradually extend the daily service hours of its Robotaxis and expand their service coverage. The company will roll out its CaoCao Intelligent Mobility RAS remote safety platform and fully implement an intelligent asset management system, further integrating its operational strengths with smart cockpit and autonomous driving technologies. These efforts are aimed at building a closed-loop system for fully driverless Robotaxi operations and laying the groundwork for large-scale deployment.
While expanding its domestic footprint, CaoCao is also stepping up international collaboration. The company has signed a Memorandum of Understanding with the Abu Dhabi Investment Office (ADIO) and will establish a local office in Abu Dhabi this year, where it will work with local partners to pilot autonomous driving and green mobility technologies.
In addition, CaoCao is working with Geely and other partners to develop a fully purpose-built Robotaxi model pre-equipped with dedicated autonomous driving hardware and software. The vehicle is set to debut this year, and the company aims to deploy 100,000 of these vehicles by 2030. Green Intelligent Mobility Hubs will be rolled out in tandem with the expansion of the Robotaxi business, providing comprehensive automated support for all aspects of Robotaxi operations and, together with partners, helping to build an integrated “sky–ground–space” mobility ecosystem.
With its integrated model that combines intelligent purpose-built vehicle, intelligent driving technology and intelligent operation, CaoCao Inc. is steadily expanding its Robotaxi footprint and helping to drive urban transportation toward a greener, smarter and more efficient future.
Hashtag: #CaoCao
The issuer is solely responsible for the content of this announcement.
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