According to a report released by Deloitte China Capital Market Services in Beijing on the 8th, Hong Kong became the market with the highest amount of new stock financing in the first quarter of this year, mainly due to three super large new stocks entering the top five IPOs (initial public offerings) in the world, as well as the strong momentum of artificial intelligence (AI) and "A first, H later" IPOs. According to this report, despite the abnormal fluctuations in global stock markets in March due to the Middle East situation, the total amount of funds raised by the top ten IPOs worldwide in the first quarter still reached HKD 116 billion, surpassing the same period in 2025. The influx of mainland AI companies and A-share listed companies into Hong Kong for listing has stimulated the local new stock market. In the first quarter, a total of 40 new stocks were listed on the Hong Kong Stock Exchange, with a financing amount of HKD 109.93 billion, far exceeding the second ranked Nasdaq (with a financing amount of approximately HKD 44.02 billion). Although uncertain factors such as geopolitical conflicts remain, Deloitte expects that the Hong Kong new stock market will continue to benefit from a strong list of mainland listed companies, ongoing market reforms, and more attractive market valuations in the AI industry. If multiple potential large-scale financing new stocks can be successfully listed, Hong Kong is expected to enter the top three of the global financing rankings in 2026. Ren Shaowen, the managing partner of Deloitte China Capital Market Services' listing business in North and West China, also mentioned that some long-term funds from overseas regions such as the Middle East have used Hong Kong stocks as a safe haven arrangement, and related investors generally prefer new energy AI、 Biotechnology and other sectors. For the mainland capital market, the report states that benefiting from various reform measures, the financing scale, number of new shares, top five IPO financing amounts, and number of companies applying for listing and attending meetings in the first quarter of the mainland new stock market all increased compared to the same period last year. Among them, in the first quarter, a total of 30 new stocks were listed on the A-share market, raising 25.9 billion yuan, an increase of 11% and 59% year-on-year, respectively. Chen Wenlong, the national partner of Deloitte China Capital Market Services' North China listing business, said that this shows that the market is further recovering. With the deepening reform of the ChiNext board and the implementation of the "1+6" policy for the Science and Technology Innovation Board reform, there may be more innovative companies closely related to national strategies listed on the A-share market in the future. (New Society)