The recent wave of hard tech IPOs in Hong Kong stocks is quite intense, with semiconductors, AI, and biomedicine all making appearances. The familiar faces from A-shares are also returning for secondary listings. Is the liquidity desert about to turn into a highland?

Hong Kong Exchanges and Clearing disclosed that from May 17 to 23, a total of 25 companies filed listing applications, covering fields including semiconductor hard technology, AI and intelligent driving, and biopharmaceuticals. Some companies are already listed on the A-shares market, such as Dongshan Precision, Lingyi Zhizao, Borui Biomedicine, Kexing Pharmaceutical, Shenzhou Cell, and Bertholdi. Xunlong Technology, Tianxiahui, Shimai Pharmaceutical, Liuliu Mei, and Xiaoe Tong also filed applications, signaling that Hong Kong is entering a wave of concentrated listings by technology-innovation companies.