Huatai Securities Research Report said that recently, the Hong Kong stock market has seen a new trend of A-share listed technology companies intensively going public in Hong Kong for the second time. As of June 30, 16 A-share semiconductor and consumer electronics companies, including Lansi Technology, Longqi Technology, and Howell Group, have submitted Hong Kong stock prospectus in 2025, which is significantly higher than the same period in 2024. Huatai Securities believes that the secondary listing of Hong Kong stocks has the following three aspects: 1) For companies to be listed, the second listing can bring diversified financing channels, and use mechanisms such as “flash placement” of Hong Kong stocks to enhance financing efficiency, enhance international market awareness, and help their global layout; 2) For Hong Kong stock investors, it is expected to seize discount arbitrage opportunities between Hong Kong stocks and A-shares in the short term, but in the long run, it will benefit from a significant improvement in the quality of the components of the Hang Seng Technology Index, thereby attracting more international capital; 3) For A-share investors, this not only means that A-share investment companies receive international value The approval also provides a new international valuation reference for A-share core technology assets, which in turn may trigger a reshaping of the overall valuation framework.

Huatai Securities Research Report said that recently, the Hong Kong stock market has seen a new trend of A-share listed technology companies intensively going public in Hong Kong for the second time. As of June 30, 16 A-share semiconductor and consumer electronics companies, including Lansi Technology, Longqi Technology, and Howell Group, have submitted Hong Kong stock prospectus in 2025, which is significantly higher than the same period in 2024. Huatai Securities believes that the secondary listing of Hong Kong stocks has the following three aspects: 1) For companies to be listed, the second listing can bring diversified financing channels, and use mechanisms such as “flash placement” of Hong Kong stocks to enhance financing efficiency, enhance international market awareness, and help their global layout; 2) For Hong Kong stock investors, it is expected to seize discount arbitrage opportunities between Hong Kong stocks and A-shares in the short term, but in the long run, it will benefit from a significant improvement in the quality of the components of the Hang Seng Technology Index, thereby attracting more international capital; 3) For A-share investors, this not only means that A-share investment companies receive international value The approval also provides a new international valuation reference for A-share core technology assets, which in turn may trigger a reshaping of the overall valuation framework.