Beijing Haizhi Technology Group dominated market attention as its shares skyrocketed to HK$99.60, more than tripling the IPO price of HK$27.06. The company raised HK$758.5 million in gross proceeds after pricing its 28 million shares near the top of its indicative range. Retail demand was unprecedented, with the local portion of the offering oversubscribed by a massive 5,065 times. The firm stated that the new capital will support research and development and the optimization of its AI agent technology.

Simultaneously, Shenzhen Woer Heat-Shrinkable Material rose as much as 8.5% to HK$21.80 before paring some gains. The manufacturer, which maintains a primary listing in Shenzhen, raised HK$2.81 billion by selling nearly 140 million shares. The company plans to use the proceeds to diversify its portfolio and scale production capacity in both China and Malaysia. Local investor interest remained high, with the Hong Kong tranche 569 times subscribed.

A Momentum Shift for Hong Kong Listings

The dual debuts conclude a high-volume week for the Hong Kong bourse, which recently hosted listings for Montage Technology, Ridge Outdoor International, and Axera Semiconductor. This flurry of activity signals that Chinese enterprises are increasingly looking to the city to anchor their fundraising efforts. The trend follows a blockbuster year for the city, where IPO fundraising tripled to HK$285.8 billion, according to data from Hong Kong Exchanges & Clearing.