As of August 17, only 13 companies disclosed the application version listing documents on the Hong Kong Stock Exchange in August, while from July 1 to July 17, 23 companies disclosed the application version listing documents on the Hong Kong Stock Exchange. This is not a cooling of IPOs in Hong Kong, but rather a chain reaction after the implementation of the reform of the Hong Kong stock listing mechanism. On July 24, the Hong Kong Stock Exchange's revised “Listing Rules” came into effect. The change that has received the most attention from the market in this round of reform is the expansion of confidential application eligibility from specific types of companies to all new applicants. Industry insiders believe that in the future, Hong Kong stock IPOs will present a pattern of “few public submissions and more actual reserves.”

As of August 17, only 13 companies disclosed the application version listing documents on the Hong Kong Stock Exchange in August, while from July 1 to July 17, 23 companies disclosed the application version listing documents on the Hong Kong Stock Exchange. This is not a cooling of IPOs in Hong Kong, but rather a chain reaction after the implementation of the reform of the Hong Kong stock listing mechanism. On July 24, the Hong Kong Stock Exchange's revised “Listing Rules” came into effect. The change that has received the most attention from the market in this round of reform is the expansion of confidential application eligibility from specific types of companies to all new applicants. Industry insiders believe that in the future, Hong Kong stock IPOs will present a pattern of “few public submissions and more actual reserves.”