HKEX File Photo

　　The Hong Kong Stock Exchange (HKEX) witnessed a rare spectacle as six companies listed simultaneously on Tuesday, the second to last trading day of 2025. On the same day, three companies debuted on the A-share market, while China"s science- and technology-focused equity market welcomed its 600th listing.

　　Analysts said that the year-end IPO surge signals investors" confidence in China"s capital market, mainly driven by advancements in technologies.

　　The six Hong Kong-listed companies are technology- and new consumption-related: artificial intelligence (AI)-driven drug discovery firm Insilico Medicine, digital twin solution provider 51WORLD, home embodied AI robotic systems provider OneRobotics, Chinese skincare brand Shanghai Forest Cabin Cosmetics Group, or Lin Qingxuan, leading real-time data infrastructure provider Shenzhen Xunce Technology, and prefabricated steel structure building services provider USAS Building System (Shanghai) Co, according to public listing information posted on the HKEX"s website.

　　Insilico Medicine stole the show as it opened 45.53 percent higher on Tuesday. 51WORLD followed with a 14.75 percent gain at the opening and closed 13.2 percent higher, according to the HKEX.

　　On December 22, the HKEX announced that Hong Kong had led global IPO fundraising in 2025. As of December 19, 106 companies had listed on the HKEX, raising HK$274.6 billion ($35.3 billion), far exceeding the HK$87.5 billion raised in 2024.

　　In 2025, the Hong Kong market received 114 completed IPOs that raised about HK$286.3 billion. The 2025 estimate represented a 63 percent increase in the number of listings and a more than twofold leap in proceeds.