China's publicly listed A-share companies, in particular hard science and technology companies, have flocked to list on the Hong Kong stock market since the start of 2026, aiming to accelerate their global expansion.
Data shows that as of March 31, 40 companies had completed initial public offering (IPO) on the Hong Kong stock market, raising nearly 110 billion Hong Kong dollars (about 14 billion U.S. dollars), a surge of 489 percent year on year and a new high since 2021. Among them, 15 companies achieved dual listing on both the A-share and Hong Kong stock markets.
Niu Dongfeng is the board secretary of a Shenzhen-listed A-share company whose main business is micro-drive systems, with products covering the automotive, new energy and industrial automation sectors.
On March 9, the company re-listed on the Hong Kong stock market. Niu said the company's choice to list in Hong Kong was driven by both policy support and the growing recognition of China’s hard sci-tech by international capital.
"Currently, many companies are choosing to list on both the A-share and Hong Kong stock markets, and our company is one of them. This is primarily due to the following background: Firstly, Chinese sci-tech companies are facing a global reassessment and re-evaluation of their capabilities. Especially with the emergence of new large-scale Chinese companies, there is a renewed understanding of China's AI capabilities and technological manufacturing prowess. Secondly, the country is promoting high-level opening-up, and regarding the capital market, the China Securities Regulatory Commission is encouraging domestic A-share listed companies to list in Hong Kong," Niu said.
With the surge of Chinese hard sci-tech companies going public, international capital's attention to Chinese assets is rapidly increasing. George Miltiadous, CEO of WeTrade EU, an international investment firm in Cyprus, said that a growing number of clients are seeking information about Chinese companies in recent years, including knowledge on technological barriers, market position, and growth potential.
"Right now, a lot of attention is going into semiconductors and AI infrastructure, with steady interest in new energy and some robotic names. This basically ties into the bigger picture. Investors are focusing on sectors that are key to China's push towards industrial upgrading and digital transformation. From a global investor point of view, Chinese hard tech is starting to look less like a short-term trade and more like a strategic allocation," he said.
Industry insiders said that China's hard sci-tech are gaining increasing recognition from international capital, driven by substantial breakthroughs in recent years in areas such as new energy, advanced manufacturing and artificial intelligence.
According to Miltiadous, listing on both the A-share and Hong Kong stock markets is expected to gradually become standard procedure for leading sci-tech companies.
"You also see more sustained interest in companies that are well covered by analysts, included in major indices or playing a key role in important supply chains. So overall, it feels like the market is moving away from broad sector bets and more towards picking high quality, globally competitive companies," said Miltiadous.
Mainland tech companies go global by dual listing on Hong Kong stock market
