MONEY MASTER

Quick Summary Montage Technology shares jumped up to 64% , closing  57% higher  in their Hong Kong debut US$902 million IPO  marks the  biggest opening-day gain in five years  for deals of similar size Rally highlights  strong investor appetite for China AI and semiconductor stocks Valuation gap with Shanghai listing fueled demand What Happened Shares of  Montage Technology Co  surged on their first day of trading in Hong Kong after the chip designer raised  US$902 million  in one of the city’s most eye-catching IPOs in recent years. IPO price:  HK$106.89 (top of the range) Close:  HK$175 Opening-day gain:   ~57%  (peaked at +64%) The offering involved  65.9 million shares  and was priced at a  44% discount  to Montage’s Shanghai-listed shares, which closed at  170.90 yuan  prior to the deal. Why Investors Piled In Strong AI momentum:  Persistent demand for  China AI-related sto...

Based on Bloomberg reporting , Chinese snack retailer  Busy Ming Group Co  surged as much as  88%  in its Hong Kong trading debut after raising  HK$3.67bn (US$470m) , underscoring renewed risk appetite for  China consumer and growth listings  at the start of 2026. Shares jumped to  HK$445  from an offer price of  HK$236.60 , with retail investors subscribing nearly  1,900 times  — a level that signals more than just deal-specific enthusiasm. Why This IPO Matters for Investors This debut is being read by markets as a  sentiment signal  for Hong Kong equities: January IPO proceeds are on track for the  strongest first-month start on record Activity is being driven by  AI-linked names and scalable consumer brands Retail participation has returned aggressively after years of caution Business Model: Value Consumption at Scale Busy Ming’s appeal lies in its  deflation-resistant, mass-market positioning : Over...

 Key Takeaways Deal Size:  Chery Automobile targets up to  HK$9.15 billion (US$1.2 billion)  in Hong Kong IPO, the city’s biggest listing this year. Pricing & Timeline:  Offering 297.4m shares at HK$27.75–HK$30.75; final pricing Sept 24, trading to start Sept 25. Investor Backing:  Cornerstone investors committed up to  US$587m , boosting confidence in demand. Use of Proceeds:  35% allocated to  R&D  across passenger vehicle models; 25% to develop  next-gen vehicles within 3 years. Strategic Expansion:  Chery accelerating entry into Europe, with new SUV launches in the UK under Chery, Omoda, and Jaecoo brands. IPO Context The deal marks Hong Kong’s largest IPO in 2025, standing out in a subdued capital-raising year dominated by secondary listings. By comparison, battery giant CATL’s May offering raised US$4.6b, setting the regional benchmark. Strategic Growth Plans Chery is positioning itself as a rising player in the...

Zhizi’s IPO Plans & Market Position Zhizi Automobile Technology Co is considering a Hong Kong IPO  to raise about  $200 million (¥1.44 billion) . Discussions with advisers are ongoing , but no final decision has been made. China’s Growing EV Truck Market China leads the global EV market  due to  cost advantages, technological advancements, and battery material access . Electric truck sales in China more than doubled in 2024 , highlighting strong demand for commercial EVs. Zhizi manufactures electric trucks, tractors, and commercial vehicles , competing with  Windrose Technology Inc., another EV truckmaker seeking a public listing. Zhizi’s Background & Industry Expansion Zhizi was founded in 2022  by  DECH Future Automobile Technology Co. , a joint venture with  Shaanxi Automobile Holding Group , one of China’s largest heavy-duty truckmakers. The IPO could help Zhizi expand production and compete in China’s rapidly growing commercial EV seg...

Horizon Robotics , a Chinese provider of software and hardware for autonomous driving systems , is seeking to raise up to HK$5.4 billion (US$696 million) through its Hong Kong IPO , marking one of the city's largest deals of 2024. The company, backed by Intel Corp , will offer 1.36 billion shares priced between HK$3.73 and HK$3.99 each, according to its listing document. The IPO is set to begin taking orders on Wednesday, with trading expected to start on October 24 . Notable cornerstone investors , including units of Alibaba Group Holding Ltd , Baidu Inc , and a fund linked to the city of Ningbo , have committed to buying about US$220 million worth of Horizon Robotics shares. Founded in 2015 , Horizon Robotics is led by Kai Yu , an AI scientist and former Baidu executive, and is positioning itself alongside other Chinese autonomous driving firms preparing to go public, such as Pony.ai and Shanghai Westwell Lab Information Technology Co . However, the market for autonomous dr...