HK/China listings: Moonshot VIE unwind/Kuaishou/Robotphoenix
Key Questions
What is the current status of HK IPO activity?
Hong Kong has seen 53 IPOs year-to-date raising HKD157.8 billion, signaling a surge in listings. This includes activity from firms like Robotphoenix, which rose 103%.
How is the Hong Kong ETF market performing?
HKEX ETF assets under management grew 25% due to cross-border access and global demand. The market has expanded rapidly over the past 18 months.
What changes is Moonshot making for its HK listing?
Moonshot, valued at $20 billion and developer of Kimi, is unwinding its VIE structure to facilitate a Hong Kong listing. This follows broader tech funding trends.
How are Chinese stock indices expected to perform in 2026?
JPMorgan forecasts MSCI China up 27% and CSI 300 up 7%, driven by strong earnings. Property stocks helped lift China indices 2.2% to a three-week high recently.
What other listing or earnings news affected HK/China markets?
Bilibili reported Q1 EPS beat but revenue miss, with shares rising modestly. Robotphoenix and broader tech funding activity contributed to positive sentiment.
HK IPO surge (53 YTD HKD157.8B); Robotphoenix +103%; HKEX ETFs AUM +25%; broader tech funding activity.