Hong Kong Stock Market's Buyback Total Exceeds 1,000 Billion Hong Kong Dollars This Year, Nearly 300 Companies Take Action

Since 2026, the Hong Kong stock market has shown two characteristics: a boom in issuance and a surge in buybacks. On the one hand, the momentum of new stock listings (IPOs) is strong, with the fundraising scale and number of companies both significantly higher than the same period last year. On the other hand, against the backdrop of market volatility and downward trends, major companies have successively invested funds to buy back shares, taking action to support the company's value.

IPO Fundraising Total Exceeds 270 Billion

According to Wind data, as of July 27 this year, a total of 100 companies have completed their initial public offerings in the Hong Kong stock market, an increase of 92.31% compared to the same period last year. The total IPO fundraising amount has reached 2723.39 billion Hong Kong dollars, an increase of 111.26% compared to the same period last year.

This boom shows distinct structural characteristics. First, large "A+H" stocks take the lead, with 31 companies already listed on the A-share market issuing in Hong Kong, with a fundraising amount of 1736.10 billion Hong Kong dollars, accounting for 60% of the total.

Second, technology companies dominate. The fundraising amount for the three major tracks of hardware equipment, semiconductors, and software services totaled approximately 1849.50 billion Hong Kong dollars, accounting for 70%.

Among them, companies such as Lisen Precision, Shengmeng Technology, Muji Holdings, and Dongpeng Beverage have all had fundraising scales exceeding 100 billion Hong Kong dollars. In addition, the escort of cornerstone investors is also crucial. This year, 83 new stocks introduced cornerstone investors, among which international sovereign wealth funds such as Singapore's GIC, Temasek, and the Abu Dhabi Investment Authority frequently participated, with a total subscription amount of approximately 1125 billion Hong Kong dollars, accounting for 40% of the fundraising total.

Buyback Total Exceeds 1,000 Billion Hong Kong Dollars

While new stock issuance is in full swing, the secondary market of the Hong Kong stock market has seen an unprecedented scale of buyback wave. As of July 27, the cumulative buyback total in the Hong Kong stock market this year has reached 1006.67 billion Hong Kong dollars, with the number of buyback shares reaching 75.18 billion, an increase of over 50% compared to the same period last year.

Currently, nearly 300 listed companies have taken buyback actions, mainly to stabilize investor confidence when the index is volatile and downward, and the stock price is undervalued. Tencent Holdings ranks first with a buyback amount of 261.28 billion Hong Kong dollars, with a total of 53 buyback initiatives this year. AIA Group and Xiaomi Group follow closely, with buyback amounts of 136.35 billion Hong Kong dollars and 113.16 billion Hong Kong dollars, respectively.

In addition to internet giants, buyback power also extends to healthcare (such as Wuxi AppTec), logistics and shipping (such as SF Holdings, ZTO Express), and the automotive and travel sectors.

Market Outlook: Liquidity and Confidence Restoration

Although the main indices of the Hong Kong stock market, such as the Hang Seng TECH Index, have been under significant pressure this year, the large-scale buybacks by companies have demonstrated confidence in long-term value. Analysts point out that the Hong Kong stock market is currently at a "crossroads," and the future market trend reversal will depend on the synergy of improved global liquidity and stabilized fundamentals.

Looking ahead to the second half of the year, with a sufficient reserve of IPO projects, the market fundraising amount is expected to set a new high again, while the continuous buybacks by industry leaders will provide important support for market stabilization.