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
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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.
The Taiwan-born pet mobility brand opens its first SoHo pop-up inside Flying Solo, bringing its Nordic-designed pet stroller collection to the heart of New York City.
NEW YORK, USA – Media OutReach Newswire – 02 April 2026 – FikaGO, the design-led pet mobility brand recognized across Asia and Europe, has opened its first New York City pop-up store inside Flying Solo in SoHo. The opening marks a deliberate move for a pet brand into one of the world’s most competitive retail districts.
Since entering the online American market in 2025, FikaGO has built a growing community of pet parents who see their animals as a central part of everyday life. Positioned as lifestyle essentials rather than conventional pet gear, FikaGO’s range of products is designed for people who want the best for their fur babies.
“We’ve always believed that pet products should not only be functional, but also beautifully integrated into everyday life.” — Eric Guu, Co-founder, FikaGO
SoHo was a considered choice: Flying Solo, with locations in New York and Paris, is known for championing independent design with a distinctly global sensibility.
The pop-up showcases FikaGO’s auto-folding Free To Go 2 in Sandy Beige, the brand’s bestselling product. All FikaGO’s products are manufactured using eco-friendly fabrics made from recycled materials, reflecting a commitment to sustainability. This includes their large-capacity Agile 2 pet strollers to their airline-approved Truffle carriers and the heavy-duty Kross pet wagon.
“Launching in SoHo is a meaningful milestone for us; it allows customers to truly experience the quality, design, and intention behind every FikaGO product.” — Eric Guu, Co-founder, FikaGO
As pet ownership rises globally, particularly among urban millennials and Gen Zs, demand for products that combine functionality, design, and lifestyle integration continues to grow. FikaGO was built for precisely this moment, and SoHo is precisely where that moment lives.
Visit the FikaGO pop-up at Flying Solo, 419 Broome Street, New York, or explore the full collection at https://us.fikago.com/.
Hashtag: #FikaGO #petmobilitybrand #petstroller #petcarrier #petwagon #petkennel #petbiketrailer
https://us.fikago.com/
https://www.facebook.com/FikaGO.US
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About FikaGO
FikaGO is a pet mobility brand founded in Taiwan, dedicated to crafting products that blend functionality, comfort, and modern aesthetics. With a presence across Asia and growing reach in Europe and the U.S, FikaGO is redefining everyday experiences between pets and their humans.
Media OutReach
Lee Kum Kee Celebrates Culinary Excellence at the Historic Hong Kong Debut of Asia’s 50 Best Restaurants 2026
From 23-25 March, Lee Kum Kee brought together top chefs, diverse cultures and industry communities through a range of thoughtfully curated experiences, bringing authentic Asian flavours to the global stage. As well as reaffirming the brand’s Asian roots and international perspective, its involvement reflected an enduring commitment to preserving culinary heritage and driving gastronomic innovation.
“Asian Flavour Duet“: A Culinary Journey Through Heritage and Innovation
Helping to build momentums for this year’s awards, Lee Kum Kee collaborated with Vicky Cheng, the acclaimed Executive Chef and owner of WING, to co-create the “Asian Flavour Duet”, a Hong Kong-style late-night supper party on 24 March. Hosted at two Hong Kong culinary landmarks, the experience unfolded in two chapters – “Paying Tribute to Heritage” and “Innovative Fusion” – and invited guests to explore the limitless possibilities of Asian flavour.
The evening began at the century-old Lin Heung Lau teahouse, a space filled with nostalgia and memories for generations of Hong Kongers. Chef Vicky reinterpreted classic Hong Kong late-night dishes using signature Lee Kum Kee sauces, while guests were immersed in the warmth of the historic venue.
The celebration then moved to Medora, Chef Vicky’s Western dining space, where an “Innovative Fusion” was revealed. He showcased his modern culinary philosophy by incorporating Lee Kum Kee sauces with contemporary techniques to create bold, unexpected dishes. Guests also enjoyed specially crafted cocktails infused with Lee Kum Kee sauces, alongside a delightful yet refined sauce-inspired gelato, demonstrating a harmonious interweaving of savoury, umami, sweetness and spice.
The multisensory journey seamlessly blended tradition with innovation, exploring the future of cuisine while highlighting Lee Kum Kee’s role as a global gateway to Asian culinary culture.
At the event, Dodie Hung, Executive Vice President – Corporate Affairs at Lee Kum Kee, commented, “Tonight, we are honoured to celebrate Hong Kong’s late‑night food culture with Chef Vicky and the global culinary community. From the legacy of Lin Heung Lau to the forward‑looking spirit of Medora, we are proud to be part of the creative journey and help showcase the depth of Asian flavours on the world stage.”
Celebrating a Gastronomic Brilliance with the Highest Climber Award Sponsored by Lee Kum Kee
During the awards ceremony on 25 March, Lee Kum Kee’s booth showcased a range of the brand’s acclaimed classic sauces and innovative products. Guests sampled specially crafted bites featuring Lee Kum Kee sauces, engaging directly with the flavours and techniques that have made the brand a trusted partner in both home and professional kitchens worldwide.
As part of the evening’s celebration of the region’s most exceptional culinary talents, the Highest Climber Award sponsored by Lee Kum Kee was presented to Lamdre in Beijing by Chef Park from Atomix (No.1 in North America’s 50 Best Restaurants 2025). Lambre was applauded for its pioneering plant-based dining space that promotes healthy, sustainable living while honouring Chinese biodiversity in its menus.
In addition, WING, led by Chef Vicky, achieved an impressive second place in 2026 Asia’s 50 Best Restaurants list. The restaurant had also previously ranked No. 11 on The World’s 50 Best Restaurants list in 2025, underscoring its continued international acclaim.
Building the Future Together: Deepening Global Partnerships
With the success of this prestigious awards ceremony in Hong Kong, China, Lee Kum Kee looks forward to deepening its collaboration with leading talents in the global culinary community. By continuing to champion Asian flavours and foster meaningful dialogue and exchange, the brand will continue to bring the spirit of Asian cuisine to kitchens and dining tables around the world.
Hashtag: #LeeKumKee #LKK
The issuer is solely responsible for the content of this announcement.
About Lee Kum Kee
Lee Kum Kee is the global gateway to Asian culinary culture, dedicated to promoting Chinese culinary culture worldwide. Since 1888, it has brought people together over joyful reunions, shared traditions and memorable meals. Beloved by consumers and chefs alike, Lee Kum Kee’s range of more than 300 sauces and condiments sparks creativity in kitchens everywhere, inspiring professional and home chefs to experiment, create and delight. Headquartered in Hong Kong, China and serving over 100 countries and regions, Lee Kum Kee’s rich heritage, unwavering commitment to quality, sustainable practices and “Constant Entrepreneurship” combine to enable superior experiences through Asian cuisine for people worldwide. For more information, please visit www.LKK.com.
About Asia’s 50 Best Restaurants
Launched in 2013, Asia’s 50 Best Restaurants aims to showcase the outstanding achievements and diverse culinary landscape of the region. The list is determined by the Asia’s 50 Best Restaurants Academy, a panel of over 350 culinary experts from across Asia who vote independently based on their specialised knowledge of the local dining scene. The Asia’s 50 Best Restaurants series includes the awards ceremony and list announcement, creating a premier networking platform for restaurateurs, media, seasoned travelers and culinary connoisseurs to celebrate the exceptional service, passion and talent in the dining industry.
- Herbert Vongpusanachai takes on the role of Senior Vice President for Commercial for the region, effective April 1, 2026
SINGAPORE – Media OutReach Newswire – 2 April 2026 – DHL Express, the world’s leading international express service provider, has appointed Herbert Vongpusanachai as Senior Vice President, Commercial for Asia Pacific, effective April 1, 2026. Herbert, who currently serves as Managing Director for DHL Express Thailand & Indochina, will be based in Singapore for his new role.
Herbert brings more than two decades of leadership experience within DHL Express, having successfully helmed multiple key markets across the region. He first joined the company in 2003 as Managing Director for Thailand & Indochina, later taking on leadership of Singapore in 2008, followed by Hong Kong & Macau in 2016. Since returning to lead Thailand & Indochina in 2020, he has driven sustained year‑on‑year profitable growth, transforming the cluster into one of the region’s key engines of expansion.
“Herbert has an exceptional track record of delivering strong business results while nurturing highly engaged teams across diverse markets. His deep understanding of our customers, collaborative leadership style, and ability to unearth opportunities in complex environments make him the ideal leader to drive our commercial agenda for Asia Pacific. I am confident that under his guidance, we will continue to accelerate sustainable growth across the region,” said Ken Lee, CEO for Asia Pacific, DHL Express.
In his new regional role, Herbert will shape and accelerate the commercial strategy for DHL Express across Asia Pacific by working with other functions to assess new sectors, routes and trade lanes with high potential for growth. He will focus on deepening customer engagement and supporting their expansion, while driving sustainable volume growth and advancing the adoption of new technologies to enhance commercial execution across markets. With his extensive country expertise and people‑first leadership style, Herbert is well‑positioned to support both regional and country teams in raising commercial performance to new levels.
“Asia Pacific remains an important anchor in global trade as seen in the latest DHL Global Connectedness Report, and this indicates the unwavering role of logistics to facilitate the flow of goods. With the newly introduced Heavyweight Express solution, which enables customers to ship heavyweight shipments with speed, certainty and reliability, I look forward to working alongside our talented teams to contribute to shaping the next chapter of DHL Express’s commercial success,” said Herbert Vongpusanachai, Senior Vice President – Commercial for Asia Pacific, DHL Express.
The latest DHL Global Connectedness Report shows that the region remains a major anchor of global commerce, with multiple economies rising in global connectedness rankings and Southeast Asia firmly establishing itself as a fast‑growing trade corridor. This also mirrors one of DHL Group’s strategies to better support 20 markets globally to accelerate growth; eight of them rest in Asia Pacific – underscoring the region’s critical role in DHL’s global network. As trade flows diversify and intra‑Asia integration deepens, this leadership appointment further strengthens DHL Express’s position in Asia Pacific.
Hashtag: #DHL
https://group.dhl.com/en.html
https://www.linkedin.com/company/dhlexpress/
The issuer is solely responsible for the content of this announcement.
DHL – The logistics company for the world
DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With approximately 389,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.
DHL is part of DHL Group. The Group generated revenues of approximately 82.9 billion euros in 2025. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. DHL Group aims to achieve net-zero emissions logistics by 2050.
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