Hard-Tech IPOs Dominate A-Share Market in First Three Quarters, Raising 210.9 Billion Yuan
Deloitte China reported that A-share IPOs in the first three quarters of 2026 are expected to reach 122 listings raising 212.3 billion yuan, a 175% year-on-year increase. Hong Kong is projected to have 116 IPOs raising 387.9 billion HKD, up 112%, with a full-year forecast of 160 IPOs raising at least 480 billion HKD, potentially surpassing the 2010 record. The surge is driven by AI demand, hard-tech sectors, and A+H dual-listings.
IllustrationEditorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
- Summary covers the current reports
Cross-source coverage
Reporting timeline
Deloitte: A-Share IPO Scale to Surpass 2025; Hong Kong Aims to Break 2010 Record
Deloitte China's Capital Market Services Group released its review and outlook for the first three quarters of 2026. It forecasts that the A-share market will see 122 IPOs raising 2,123 billion RMB, a 56% increase in volume and 175% increase in funds raised year-on-year, driven by AI demand and policy support for hard tech. Hong Kong is expected to have 116 IPOs raising 3,879 billion HKD in the first nine months, with a full-year forecast of 160 IPOs raising at least 4,800 billion HKD, potentially breaking the 2010 record. The surge is attributed to inflows of AI, hard tech, and A+H dual-listing companies. In contrast, Chinese companies' US listings have nearly halted due to stricter Nasdaq thresholds, with only 3 IPOs raising $157 million. Deloitte partners noted that policy support and market reforms are key drivers, and that Hong Kong's competitiveness now depends on attracting diverse, high-quality companies beyond just fundraising size.
Read sourceA-Share IPOs Raise Over 210 Billion Yuan in First Three Quarters; Hong Kong Aims for Record Year
According to a report by Deloitte China's Capital Market Services Group, the A-share market is expected to see 122 new listings in the first three quarters of 2026, raising a total of 212.3 billion yuan, a 175% year-on-year increase. The Hong Kong IPO market is projected to have 116 new listings, raising 387.9 billion Hong Kong dollars, up 112% year-on-year. Deloitte forecasts that Hong Kong's full-year IPO fundraising could reach at least 480 billion Hong Kong dollars, potentially surpassing the historical record set in 2010. The strong performance is attributed to robust demand in AI and hard-tech sectors, capital market reforms, and policy support for strategic emerging industries under China's 15th Five-Year Plan. Key large-cap listings, including those in AI and robotics, have driven the A-share market, while the 'A+H' dual-listing model has significantly contributed to Hong Kong's activity. The report notes that over 500 companies have filed for IPOs in Hong Kong as of August 2026, indicating a strong pipeline.
Read sourceDeloitte Forecasts A-Share IPOs to Raise 212.3 Billion Yuan, Hong Kong IPO Market on Track for Record Year
According to a report by Deloitte China's Capital Market Services Group, the A-share IPO market is expected to see 122 new listings in the first three quarters of 2026, raising a total of 212.3 billion yuan, a 175% year-on-year increase. The strong performance is attributed to capital market reforms, improved regulatory efficiency, and support for strategic emerging industries under the 15th Five-Year Plan. Meanwhile, the Hong Kong IPO market is projected to have 116 new listings raising 387.9 billion Hong Kong dollars in the same period, a 112% increase. Deloitte forecasts that Hong Kong will end 2026 with about 160 IPOs and total fundraising of at least 480 billion Hong Kong dollars, potentially surpassing the historical record set in 2010. The report highlights the dominance of hard-tech and dual-listing (A+H) companies, with large-cap tech stocks like Zhongji Innolight, Luxshare Precision, and Victory Giant Technology among the top global IPOs.
Read sourceShow 2 older updatesHide older updates
Deloitte: A-Share IPO Financing Surges 175% in First Three Quarters, Shanghai Exchange Leads with 121.2 Billion Yuan
According to a report by Deloitte China Capital Market Services released on September 24, A-share IPO issuance volume and financing scale both grew significantly year-on-year in the first three quarters of 2026, with financing scale surging 175%. Deloitte forecasts that by the end of the third quarter of 2026, 122 new stocks will have listed on A-shares, raising a total of 212.3 billion yuan, compared to 78 new stocks raising 77.2 billion yuan in the same period of 2025. In terms of IPO count, the Beijing Stock Exchange (BSE) ranked first with 62 listings, followed by the Shenzhen Stock Exchange's ChiNext with 20 and the Shanghai Stock Exchange's STAR Market with 19. In financing volume, the Shanghai Stock Exchange led with 31 new stocks raising 121.2 billion yuan, followed by the Shenzhen Stock Exchange with 29 stocks raising 70.3 billion yuan, and the BSE with 62 stocks raising 20.8 billion yuan. Average financing sizes increased across most boards except the BSE. Deloitte partners Zhao Haizhou and Xie Minghui attributed the strong performance to reforms in the multi-tiered capital market, policy support for hard technology sectors, and strong demand from AI-related companies, expressing optimism for A-share market performance by the end of 2026.
Read sourceHard-Tech IPOs Dominate A-Share Market in First Three Quarters, Raising 210.9 Billion Yuan
According to data compiled by East Money, A-share markets saw 120 new IPOs in the first three quarters of 2025, raising a total of 210.96 billion yuan. This represents a 53% increase in the number of listings and a 173% surge in funds raised compared to the same period last year, when 78 companies raised 77.3 billion yuan. The sharp increase in fundraising was driven by two mega-IPOs: Changxin Technology and China Resources New Energy, which together raised 91.1 billion yuan, exceeding the total for all of last year's first three quarters. The report highlights a strong tilt toward 'hard technology' sectors, with electronics and machinery companies accounting for 35.3% of new listings. The Beijing Stock Exchange hosted 61 of the 120 new listings, while the ChiNext and STAR boards together hosted 38. First-day trading performance was strong, with an average gain of 270.49% and no IPOs closing below their issue price. Deloitte partner Zhao Haizhou commented that regulatory reforms aimed at directing capital toward 'new quality productive forces' and improving the multi-tiered capital market will support A-share IPO market performance in 2026.
Read source