Chinese Tech Firms Raise $17 Billion in Hong Kong, Accelerating AI and Chip Expansion
Chinese technology companies are increasingly turning to Hong Kong’s vibrant capital markets, raising a total of HK$136.23 billion (approximately $17.38 billion) this year. This influx of capital is primarily aimed at bolstering advancements in artificial intelligence, semiconductors, and advanced manufacturing. The trend underscores the growing significance of Hong Kong as a financial hub for tech firms looking to expand their operations.
Major Recent Listings and Share Sales
Several prominent companies have recently made headlines by listing or selling shares in Hong Kong, reflecting the robust appetite for investment in the tech sector.
CATL
Contemporary Amperex Technology Co., Limited (CATL), the world’s largest manufacturer of electric vehicle batteries, initiated a share sale of approximately HK$39.2 billion ($5.00 billion) in April. This move came less than a year after its successful Hong Kong listing. CATL priced 62.4 million new H shares at HK$628.20 each, with major clients including Tesla, BMW, Volkswagen, Xiaomi, and Nio.
Chaozhou Three-Circle
Chaozhou Three-Circle, a producer of electronic ceramic materials, successfully priced its share offering at the upper limit of its marketed range, raising about HK$7.16 billion. This capital will likely support its ongoing operations and expansion plans.
Dajin Heavy Industry
In June, Dajin Heavy Industry, which specializes in wind power equipment, set its Hong Kong listing offer price at HK$66.40 per share. The firm aims to raise HK$5.77 billion, with plans to allocate 55% of the proceeds to enhance deep-sea wind power services and 20% for constructing an assembly and operations facility in Europe.
GigaDevice Semiconductor
GigaDevice Semiconductor raised HK$4.68 billion during its Hong Kong listing in early January. The company intends to utilize the funds for research and development, as well as strategic investments, including potential acquisitions. Its shares surged nearly 40% on their trading debut on January 13.
Huaqin
The smart device manufacturer Huaqin raised HK$4.6 billion in its April share offering. The company designs and produces electronic products for major technology brands, including smartphones, laptops, servers, smart home devices, and wearables. Its shares increased by 17% during their Hong Kong debut.
Lingyi iTech
Lingyi iTech, a supplier for Apple, priced its initial public offering in Hong Kong to raise approximately HK$8.3 billion, with plans to use part of the proceeds to expand its AI capabilities. Founded in 2006 by billionaire Zeng Fangqin, the company supplies components for smartphones, tablets, and laptops, with clients including Huawei Technologies and Samsung Electronics.
Minimax Group
Minimax Group raised HK$4.82 billion in its Hong Kong IPO, pricing shares at HK$165 each, the top end of its marketed range. The company, one of China’s early large-language model developers, sold 29.2 million shares in the IPO. Founded in early 2022 by former SenseTime executive Yan Junjie, Minimax develops multimodal AI models capable of generating text, audio, images, video, and music.
Momenta Global
Momenta Global, backed by Mercedes-Benz, raised approximately HK$5.89 billion in its Hong Kong listing. However, its shares debuted flat amid market caution surrounding AI and tech stocks. Founded in 2016 by former Microsoft researcher Cao Xudong, Momenta provides assisted-driving solutions to automakers, including Toyota Motor and BYD.
Montage Technology
Montage Technology raised HK$7.04 billion in a share sale in February to fund research, commercialization, strategic investments, and working capital. The semiconductor designer’s offering attracted 17 cornerstone investors, including JPMorgan Asset Management, UBS Asset Management, and Yunfeng Capital. Established in 2004, Montage designs integrated circuits that enhance data movement in servers and data centers.
Nexchip Semiconductor
Nexchip Semiconductor, a partially state-owned chipmaker, priced its offering at the top end of its marketed range, aiming to raise around HK$6.98 billion. The company plans to allocate over HK$3.5 billion from the proceeds to research and development, with an additional HK$1.5 billion earmarked for AI-powered systems to integrate research, development, and production processes.
OmniVision Integrated Circuits
OmniVision Integrated Circuits raised HK$4.80 billion in its early January Hong Kong listing, intending to allocate about 70% of the proceeds to research and development. The firm ranks as the third-largest digital image sensor provider globally, holding a 13.7% market share based on revenue from digital imaging solutions in 2024, as noted in its listing prospectus.
Shanghai Biren Technology
AI chip startup Shanghai Biren Technology raised HK$5.58 billion in its December Hong Kong listing, with most proceeds designated for research and development and commercialization. Founded in 2019, Biren’s co-founders include Zhang Wen, the former president of AI face-recognition company SenseTime, and Jiao Guofang, who previously worked at Huawei and Qualcomm.
Knowledge Atlas Technology JSC (Zhipu AI)
Zhipu AI launched a substantial share sale of HK$31.41 billion in Hong Kong, as indicated by a term sheet. The company is recognized as one of China’s leading AI model developers and is seen as a rising competitor to U.S. firms like OpenAI, driven by strong demand for large language models.
Source: www.emirates247.com
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Published on 2026-07-09 09:51:00 • By the Editorial Desk
