Hong Kong IPO Statistics 2026
By Axis Intelligence Research
Co-author: Mia Scarlett (Business) | Last updated: September 17, 2026 | License: CC BY 4.0
Hong Kong raised HK$342.4 billion from 106 new listings between January and August 2026, up 153% on the same period of 2025, according to HKEX. July alone brought in HK$115.8 billion, more than the entire first half of 2025, by Axis Intelligence Research’s calculation. August then produced two listings.
Quick Answer
- Hong Kong IPO proceeds, Jan–Aug 2026: HK$342.4 billion from 106 new listings, per the HKEX Monthly Market Highlights (August 2026).
- A+H listings, 1H 2026: 24 deals raised HK$121.7 billion, 58% of Hong Kong IPO proceeds; Chapter 18C: 13 specialist technology IPOs raised HK$29.8 billion, from nil a year earlier, per KPMG China.
- Axis Pipeline Clearance Horizon (PCH): at the first-half 2026 listing pace, the 443 publicly filed applications would take 31.3 months to reach the market.
Key Findings
- Axis Intelligence Research calculates that Hong Kong IPOs raised HK$115.8 billion in July 2026, above the HK$109.4 billion raised in all of 1H 2025, based on HKEX data.
- According to HKEX, Hong Kong recorded 106 new listings and HK$342.4 billion of IPO funds in the first eight months of 2026, against 59 listings and HK$135.1 billion a year earlier.
- The Axis Pipeline Clearance Horizon (PCH) for Hong Kong reads 31.3 months: 443 public IPO applications divided by 14.2 listings per month in 1H 2026, using KPMG China data.
- The Axis Listing Channel Weight (LCW) for A+H IPOs reads 2.05 in 1H 2026: A+H deals were 28% of Hong Kong listings and captured 58% of proceeds.
- Axis Intelligence Research finds that the number of H shares listed in Hong Kong rose from 433 at end-2025 to 526 at end-August 2026, an increase of 93 in eight months, per HKEX month-end data.
How Much Have Hong Kong IPOs Raised in 2026?
Hong Kong IPOs raised HK$342.4 billion (HK$342,363 million) from January through August 2026, a 153.5% increase over the HK$135.1 billion raised in the same months of 2025, according to HKEX. New listings rose 79.7%, from 59 to 106. HKEX counts two transfers from GEM to the Main Board inside the 106.
Total equity funds raised on the exchange, IPOs plus follow-ons, reached HK$651.3 billion over the same eight months (HKEX, provisional).
Hong Kong IPO proceeds and listings by period, 2026 vs 2025
| Period | New listings 2026 | IPO funds 2026 (HK$B) | New listings 2025 | IPO funds 2025 (HK$B) | Source |
|---|---|---|---|---|---|
| January–June | 87 | 212.4 | — | 109.4 | HKEX 2026 Interim Results |
| January–July | 104 | 328.2 | 53 | 129.3 | HKEX Monthly Market Highlights |
| January–August | 106 | 342.4 | 59 | 135.1 | HKEX Monthly Market Highlights |
| July 2026 only | 17 | 115.8 | — | — | Axis calculation on HKEX |
| August 2026 only | 2 | 14.2 | 6 | — | HKEX; Axis calculation |
Axis Intelligence Research calculates the single-month figures by subtracting cumulative HKEX totals: July = HK$328.2B − HK$212.4B = HK$115.8B and 104 − 87 = 17 listings; August = HK$342.4B − HK$328.2B = HK$14.2B. Because HKEX rounds the July cumulative figure to one decimal, the August figure carries roughly HK$0.1 billion of rounding.
The contrast between those two months is the most important shape in the 2026 data. July was the strongest month of the year by a wide margin. August produced two new companies, against six in August 2025.
Mia Scarlett: Read the monthly series the way you would read quarterly revenue with one lumpy contract in it. Hong Kong’s run rate from January to July was about HK$47 billion a month. August’s HK$14.2 billion is not proof of a collapse in demand. PwC calls the second half Hong Kong’s traditional peak IPO period, and EY flags that more than HK$1 trillion of IPO shares unlock during 2026, with over half of that in July, September and December. The number to watch is whether September restores the July cadence.
Is Hong Kong on track to beat its 2026 IPO forecasts?
Mostly already there. PwC Hong Kong forecast on July 2, 2026 that Hong Kong IPO fundraising would reach HK$380 billion for the full year, per its 2026 mid-year review.
Axis Intelligence Research calculates that HKEX’s January–August total covers 90.1% of that forecast (HK$342.4B ÷ HK$380B). The remaining HK$37.6 billion requires an average of HK$9.4 billion a month from September to December, against an average of HK$42.8 billion a month so far in 2026.
HKEX’s eight-month figure also sits HK$55.5 billion above KPMG China’s full-year 2025 count of HK$286.9 billion. The two series use different inclusion rules, but in the first half of 2026 those rules separated HKEX and KPMG by only HK$2.5 billion, so the year-on-year conclusion holds either way.
A+H Listings Statistics: Why A-Share Companies Dominate Hong Kong IPOs
A-share companies completing Hong Kong listings raised HK$121.7 billion from 24 IPOs in 1H 2026, 58% of all Hong Kong IPO proceeds, according to KPMG China. That compares with 7 A+H IPOs in 1H 2025. HKEX’s own interim results confirm that 24 A-share companies completed H-share listings in the half.
EY reports that 8 of the 10 largest Hong Kong IPOs of 1H 2026 were A+H listings, and that 121 of the companies filing to list in Hong Kong during 2026 were A-share companies as of June 23, 2026, excluding confidential filings (EY 1H 2026 press release).
Axis Listing Channel Weight (LCW) by listing route, 1H 2026
The Axis Listing Channel Weight (LCW) measures whether a listing route pulls more or less than its fair share of capital. It divides a route’s share of Hong Kong IPO proceeds by its share of Hong Kong IPO deal count in the same period. An LCW of 1.00 means the route raises exactly its proportional share. Above 1.00, each deal in that route raises more than the average Hong Kong IPO.
Formula: LCW = (route proceeds ÷ total proceeds) ÷ (route IPOs ÷ total IPOs). All inputs come from KPMG China’s 1H 2026 review, so numerator and denominator share one methodology.
Worked example, A+H: proceeds share = HK$121.7B ÷ HK$209.9B = 58.0%; deal share = 24 ÷ 85 = 28.2%; LCW = 58.0 ÷ 28.2 = 2.05.
| Listing route | IPOs | Funds raised (HK$B) | Share of proceeds | Share of deals | Average IPO (HK$B) | LCW | Source |
|---|---|---|---|---|---|---|---|
| A+H listings | 24 | 121.7 | 58.0% | 28.2% | 5.07 | 2.05 | Axis calculation on KPMG China |
| Chapter 18C (specialist technology) | 13 | 29.8 | 14.2% | 15.3% | 2.29 | 0.93 | Axis calculation on KPMG China |
| Chapter 18A (pre-revenue biotech) | 11 | 12.5 | 6.0% | 12.9% | 1.14 | 0.46 | Axis calculation on KPMG China |
| All other routes (residual) | 37 | 45.9 | 21.9% | 43.5% | 1.24 | 0.50 | Axis calculation on KPMG China |
| All Hong Kong IPOs | 85 | 209.9 | 100% | 100% | 2.47 | 1.00 | KPMG China |
The residual row is Axis arithmetic: 85 − 24 − 13 − 11 = 37 deals and HK$209.9B − 121.7B − 29.8B − 12.5B = HK$45.9B. KPMG’s statement that A+H and 18C IPOs together raised 72% of proceeds matches (121.7 + 29.8) ÷ 209.9 = 72.2%, which confirms those two routes do not double-count each other.
Axis Intelligence Research finds that the average A+H IPO in 1H 2026 raised HK$5.07 billion, about 4.1 times the HK$1.24 billion average of the residual routes.
Mia Scarlett: An A+H issuer arrives with audited A-share filings, a live price, analyst coverage and, usually, a domestic shareholder base that already understands the balance sheet. That is why the average cheque is four times the rest of the market. It also means the headline Hong Kong number in 2026 is, in large part, a mainland reallocation story: companies already public in Shanghai or Shenzhen raising offshore currency. Strip the A+H column out and Hong Kong’s other routes raised HK$88.2 billion in the half, which is below the whole market’s HK$109.4 billion in 1H 2025.
Largest Hong Kong IPOs of 2026 so far
| Rank | Company | Proceeds (HK$B) | Sector | Source |
|---|---|---|---|---|
| 1 | Victory Giant Technology (HuiZhou) | 23.1 | TMT | KPMG China; HKEX |
| 2 | Muyuan Foods | 12.1 | Consumer markets | KPMG China |
| 3 | Eastroc Beverage (Group) | 11.1 | Consumer markets | KPMG China |
| 4 | Lingyi iTech (Guangdong) | 8.3 | Industrials | KPMG China |
| 5 | Montage Technology | 8.1 | TMT | KPMG China |
| 6 | Dajin Heavy Industry | 6.6 | Industrials | KPMG China |
| 7 | Shanghai Biren Technology | 6.4 | TMT | KPMG China |
| 8 | Shenzhen Han’s CNC Technology | 5.6 | Industrials | KPMG China |
| 9 | MiniMax Group | 5.5 | TMT | KPMG China |
| 10 | GigaDevice Semiconductor | 5.4 | TMT | KPMG China |
HKEX describes Victory Giant’s April 2026 offering as the largest TMT IPO in Hong Kong since March 2021. Yet the market was less top-heavy than in 2025. Axis Intelligence Research calculates that Victory Giant supplied 11.0% of 1H 2026 Hong Kong IPO proceeds (23.1 ÷ 209.9), while Contemporary Amperex Technology’s HK$41.0 billion listing supplied 37.5% of 1H 2025 proceeds (41.0 ÷ 109.4). KPMG puts the top-10 share at 44% in 1H 2026, versus 54% for full-year 2025.
How many H shares are now listed in Hong Kong?
HKEX counted 526 H shares at the end of August 2026, up from 433 at the end of 2025 and 396 at the end of August 2025. Axis Intelligence Research finds that the H-share count grew by 93 in eight months and by 130 in twelve months. Mainland enterprises represented 77.6% of Hong Kong’s total market capitalisation of HK$47.2 trillion at end-August 2026, per HKEX.
Chapter 18C IPO Statistics: Specialist Technology Listings in Hong Kong
Chapter 18C of the HKEX Main Board Listing Rules took effect on March 31, 2023, creating a listing route for specialist technology companies in five industries: next-generation information technology, advanced hardware and software, advanced materials, new energy and environmental protection, and new food and agriculture technologies, according to HKEX’s Chapter 18C guidance page. A temporary modification to the minimum market capitalisation requirement applies from September 1, 2024 to August 31, 2027.
In 1H 2026, 13 companies listed under Chapter 18C and raised HK$29.8 billion, against no 18C IPOs in 1H 2025, per KPMG China. ### Chapter 18C vs Chapter 18A: Hong Kong’s two pre-profit technology routes
| Measure, 1H 2026 | Chapter 18C (specialist tech) | Chapter 18A (pre-revenue biotech) | Source |
|---|---|---|---|
| IPOs | 13 | 11 | KPMG China |
| Funds raised (HK$B) | 29.8 | 12.5 | KPMG China |
| IPOs, 1H 2025 | 0 | 6 | KPMG China |
| Funds raised, 1H 2025 (HK$B) | 0 | 4.8 | KPMG China |
| Average IPO (HK$B) | 2.29 | 1.14 | Axis calculation |
| Axis Listing Channel Weight | 0.93 | 0.46 | Axis calculation |
Axis Intelligence Research calculates that the average Chapter 18C IPO in 1H 2026 raised twice as much as the average Chapter 18A biotech IPO (HK$2.29B vs HK$1.14B), and that 18C alone raised more than twice the entire 18A cohort.
EY adds that HKEX’s Technology Enterprises Channel (TECH) has been used to accelerate filings by specialist technology and biotech applicants, particularly in AI, semiconductors and software. On July 24, 2026, HKEX published conclusions to its Listing Framework Competitiveness Review, which covered weighted voting rights requirements, the pathway for overseas-listed issuers and confidential filing for all new applicants; the new rules took effect immediately, per the HKEX 2026 Interim Results.
Mia Scarlett: The 18C column is the one that should interest anyone valuing a pre-profit company. An LCW of 0.93 says specialist-tech IPOs raised almost exactly their proportional share of Hong Kong capital; investors are not treating them as a discount channel the way biotech at 0.46 still is. The honest caveat for the index: 13 deals is a small denominator, and one large AI listing moves the reading by a wide margin.
For the valuation, profitability and regional split of technology IPOs worldwide, see our Tech IPO Statistics 2026. For AI companies specifically, see the AI IPO Tracker.
Hong Kong IPO Pipeline 2026: How Long Will the Queue Take to Clear?
Hong Kong had more than 500 active IPO applications including confidential filings, and 443 publicly filed applications, as of June 26, 2026, according to KPMG China. The public pipeline stood at 292 in December 2025, which makes the June figure 51.7% higher. Of the 443, 116 were A+H applications with a combined market capitalisation of RMB7,748.6 billion.
Applications kept arriving faster than listings. KPMG counts 233 new Hong Kong IPO applications in Q1 2026 and 238 in Q2 2026.
Axis Pipeline Clearance Horizon (PCH)
The Axis Pipeline Clearance Horizon (PCH) estimates how many months the current IPO queue would take to reach the market if listings continued at the recent monthly pace and no new applications arrived. It is a pressure gauge, not a forecast: a rising PCH means the pipeline is growing faster than the market can price it.
Formula: PCH (months) = active applications ÷ (completed IPOs in the period ÷ months in the period).
Worked example, total public pipeline: 85 IPOs ÷ 6 months = 14.17 listings per month; 443 ÷ 14.17 = 31.3 months.
| Pipeline segment | Applications | Listing pace used (per month) | PCH (months) | Source |
|---|---|---|---|---|
| Public applications, KPMG pace (1H 2026) | 443 | 14.17 | 31.3 | Axis calculation on KPMG China |
| Including confidential filings (500+) | 500 | 14.17 | 35.3 (minimum) | Axis calculation on KPMG China |
| Public applications, HKEX pace (Jan–Aug 2026) | 443 | 13.25 | 33.4 | Axis calculation on KPMG China and HKEX |
| A+H applications | 116 | 4.00 | 29.0 | Axis calculation on KPMG China |
Axis Intelligence Research estimates that the A+H pipeline alone represents 29.0 months of listings at the first-half pace (116 ÷ (24 ÷ 6)). A second measure points the same way: KPMG’s 471 new applications in 1H 2026 against 85 completed IPOs gives an Axis filing-to-listing ratio of 18.0 listings per 100 applications in the half.
KPMG’s sector split of active applications is TMT 33%, industrials 26% and healthcare/life sciences 21%. PwC describes the applicant base as primarily mainland manufacturing, information technology and telecommunications, and retail and consumer companies, with overseas enterprises also filing.
Mia Scarlett: A backlog is inventory, and inventory has a shelf life: financial statements in a filing go stale. A 31-month horizon therefore does not mean companies wait 31 months; it means a large share of this queue will refile, reprice, list smaller or not list at all. The 116 A+H names are the most bankable part of it, because their pricing reference already trades in Shanghai or Shenzhen.
What Is Driving Hong Kong IPO Demand in 2026?
Three demand signals in the primary data back the proceeds figures.
Cornerstone participation. EY reports that 85% of Hong Kong IPOs in 1H 2026 introduced cornerstone investors, with a widening mix that includes sovereign funds, state-owned investment institutions, local governments, listed companies and individuals.
First-day performance. PwC Hong Kong reports that the share of new listings closing above their offer price on day one rose from around 70% in 1H 2025 to more than 80% in 1H 2026.
Secondary liquidity. HKEX reports average daily turnover of HK$282.5 billion for January–August 2026, up 13.8% year on year, and follow-on equity raised by listed companies of HK$296.0 billion in 1H 2026, including Contemporary Amperex Technology’s HK$39.2 billion primary placement.
| Demand indicator | Value | Period | Source |
|---|---|---|---|
| IPOs with cornerstone investors | 85% | 1H 2026 | EY |
| New listings rising on day one | >80% (vs ~70% in 1H 2025) | 1H 2026 | PwC Hong Kong |
| Average daily turnover | HK$282.5B | Jan–Aug 2026 | HKEX |
| Follow-on equity raised | HK$296.0B | 1H 2026 | HKEX |
| IPO shares unlocking in 2026 | >HK$1 trillion | Calendar 2026 | EY |
| Main Board new listings, IT and telecom share | 48% | 1H 2026 | PwC Hong Kong |
Mia Scarlett: The unlock line is the one the summary slides skip. More than HK$1 trillion of lock-ups rolling off in a year when cornerstones sit in 85% of deals means the fourth quarter tests whether those anchors were long-term holders or allocation arbitrage. EY argues controlling shareholders and state-linked investors dominate the expiring blocks. That is a reasonable prior; the September and December share registers will confirm or refute it.
Why Do Hong Kong IPO Totals Differ Between HKEX, KPMG, EY and PwC?
Four primary publishers report 1H 2026 Hong Kong IPO totals that differ by up to three deals and HK$2.6 billion. The differences come from cut-off dates and inclusion rules.
| Publisher | Hong Kong IPOs, 1H 2026 | Proceeds (HK$B) | Cut-off and rules | Source |
|---|---|---|---|---|
| HKEX | 87 new listings | 212.4 | Six months to June 30; includes 2 GEM transfers and 1 GEM listing | HKEX 2026 Interim Results |
| PwC Hong Kong | 87 | 210 | 83 Main Board, 2 GEM transfers, 1 introduction, 1 GEM | PwC Hong Kong |
| KPMG China | 85 | 209.9 | Data to June 26, adjusted to June 30; includes introductions; excludes SPAC, de-SPAC and GEM transfers | KPMG China |
| EY | 84 (expected) | 209.8 | Data as of June 23, 2026, including expected listings | EY |
The practical rule on this page: monthly and year-to-date totals use HKEX; route breakdowns (A+H, 18C, 18A) and the pipeline use KPMG; demand indicators are attributed to the firm that measured them. No Axis metric mixes two publishers inside a single ratio, except the PCH sensitivity row, which is labelled as such.
For how Hong Kong ranks against Nasdaq, NYSE, Shanghai and India, see IPO Statistics by Country and Exchange 2026. For global totals and mega-deals, see the IPO Statistics 2026 hub.
Methodology
Collection. Axis Intelligence Research assembled this dataset on September 17, 2026 from documents fetched and read that day: HKEX Monthly Market Highlights (August 2026 edition, updated August 31, 2026, with the July 2026 edition’s year-to-date figures), HKEX 2026 Interim Results announcement (August 19, 2026), HKEX’s Chapter 18C guidance page, KPMG China’s Chinese Mainland and Hong Kong IPO Markets 2026 Mid-Year Review (June 2026), EY’s 1H 2026 Chinese mainland and Hong Kong IPO press release (June 24, 2026) and PwC Hong Kong’s 2026 IPO mid-year review press release (July 2, 2026). Every figure on this page is a row in the CSV.
Reading chart labels. KPMG publishes some figures only as chart labels. Axis Intelligence Research used a label only when it reproduced a total or percentage stated in the same document: the HK$286.9 billion full-year 2025 figure is the sum of KPMG’s HK$109.4B (1H) and HK$177.5B (2H) labels and is consistent with KPMG’s US$37.0 billion FY2025 Hong Kong exchange figure at its stated USD/HKD rate of 7.75; the December 2025 pipeline of 292 reproduces KPMG’s reported growth to 443.
Axis metrics.
- Single-month proceeds and listings = difference between consecutive HKEX year-to-date totals.
- Axis Listing Channel Weight (LCW) = (route proceeds ÷ total proceeds) ÷ (route IPOs ÷ total IPOs), KPMG inputs only. Residual route = total minus A+H, 18C and 18A.
- Axis Pipeline Clearance Horizon (PCH) = applications ÷ (completed IPOs ÷ months). Headline reading uses KPMG’s 85 IPOs over six months; sensitivity row uses HKEX’s 106 listings over eight months.
- Filing-to-listing ratio = KPMG 1H 2026 completed IPOs ÷ KPMG 1H 2026 new applications × 100.
- Forecast attainment = HKEX Jan–Aug IPO funds ÷ PwC full-year forecast.
- Concentration shares = single-deal proceeds ÷ same-period KPMG total.
Currency. Hong Kong figures are in Hong Kong dollars as published. The A+H pipeline market capitalisation is in renminbi as published by KPMG. Axis Intelligence Research converted no figures.
What the data does not separate. HKEX’s monthly totals do not split listings by route, so A+H, 18C and 18A figures run to June 30, 2026 only. KPMG does not publish the Chapter 18C share of the pipeline, so no 18C clearance horizon is calculated. PCH assumes no new filings and no withdrawals; it describes pipeline pressure rather than predicting listing dates.
About This Dataset
File: hong-kong-ipo-statistics.csv — one row per observation, with metric, value, unit, as-of date, period, geography, segment, source organization, document, URL, retrieval date, primary-source flag, Axis-calculation flag and method note.
Coverage: Hong Kong IPO counts and proceeds (1H 2025, 1H 2026, January–July and January–August 2026, single months), listings by route (A+H, Chapter 18C, Chapter 18A, new economy, residual), Axis Listing Channel Weight and average deal size by route, ten largest 1H 2026 IPOs, H-share counts, IPO pipeline and Axis Pipeline Clearance Horizon, demand indicators, forecast attainment, and a publisher definitions comparison.
License: CC BY 4.0. Reuse freely with attribution to “Axis Intelligence Research, Hong Kong IPO Statistics 2026.”
Also published on: Hugging Face · Kaggle · GitHub (Axis Intelligence Research).
How to Cite This Page
APA: Axis Intelligence Research, & Scarlett, M. (2026, September 17). Hong Kong IPO statistics 2026: HKEX listings, A+H deals and the Chapter 18C pipeline. Axis Intelligence. https://axis-intelligence.com/hong-kong-ipo-statistics/
MLA: Axis Intelligence Research, and Mia Scarlett. “Hong Kong IPO Statistics 2026: HKEX Listings, A+H Deals and the Chapter 18C Pipeline.” Axis Intelligence, 17 Sept. 2026, axis-intelligence.com/hong-kong-ipo-statistics/.
Chicago: Axis Intelligence Research, and Mia Scarlett. “Hong Kong IPO Statistics 2026: HKEX Listings, A+H Deals and the Chapter 18C Pipeline.” Axis Intelligence, September 17, 2026. https://axis-intelligence.com/hong-kong-ipo-statistics/.
Questions Issuers, Sponsors and Investors Ask About the Hong Kong IPO Market
Has Hong Kong already raised more from IPOs in 2026 than in all of 2025?
Yes. HKEX reports HK$342.4 billion of IPO funds for January–August 2026. KPMG China’s count for full-year 2025 is HK$286.9 billion. Even allowing for differences in inclusion rules, Hong Kong passed its 2025 total before the end of August 2026.
Why were there only two Hong Kong IPOs in August 2026?
HKEX recorded two new listings and about HK$14.2 billion of IPO funds in August 2026, after 17 listings in July. PwC describes the second half as Hong Kong’s traditional peak IPO period, and EY notes that more than half of 2026’s IPO lock-up expiries fall in July, September and December.
What share of Hong Kong IPO money comes from A+H listings?
58% in the first half of 2026. KPMG China counts 24 A+H IPOs raising HK$121.7 billion out of HK$209.9 billion. The Axis Listing Channel Weight for A+H reads 2.05, meaning each A+H deal raised about twice the average Hong Kong IPO’s share.
How many companies have listed under Chapter 18C in 2026?
KPMG China counts 13 Chapter 18C specialist technology IPOs raising HK$29.8 billion in 1H 2026, compared with none in 1H 2025. Their average raise was HK$2.29 billion, about twice the HK$1.14 billion average for Chapter 18A biotech IPOs.
How long is the Hong Kong IPO queue?
KPMG China counts 443 publicly filed applications and more than 500 including confidential filings as of June 26, 2026. At the first-half listing pace of 14.2 IPOs a month, the Axis Pipeline Clearance Horizon is 31.3 months for public filings and at least 35.3 months including confidential ones.
Do Hong Kong IPOs still rise on their first trading day?
Most do. PwC Hong Kong reports that more than 80% of new listings in 1H 2026 closed above their offer price on day one, up from around 70% in 1H 2025. EY reports that 85% of 1H 2026 offerings had cornerstone investors.
Will Hong Kong hit the HK$380 billion IPO forecast for 2026?
It needs HK$37.6 billion more. PwC forecast HK$380 billion; HKEX’s January–August total covers 90.1% of it. That requires about HK$9.4 billion a month from September to December, against a 2026 average of HK$42.8 billion a month, per Axis Intelligence Research.
Why do HKEX, KPMG, EY and PwC report different Hong Kong IPO numbers?
Cut-off dates and inclusion rules. For 1H 2026, HKEX reports 87 listings and HK$212.4 billion including GEM transfers; KPMG reports 85 and HK$209.9 billion excluding GEM transfers; EY reports 84 and HK$209.8 billion using data to June 23 with expected listings.
How many H shares are listed in Hong Kong?
HKEX counted 526 H shares at the end of August 2026, up from 433 at the end of 2025 and 396 a year earlier. Mainland enterprises accounted for 77.6% of Hong Kong’s HK$47.2 trillion market capitalisation at that date.