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South China Morning Post
2 days ago
- Business
- South China Morning Post
Regulatory changes have built momentum in Hong Kong IPOs
Hong Kong stock exchange (HKEX) reported a surge in IPO activity in the first quarter of the year, with 17 new listings attracting a total of HK$18.7 billion (US$2.38 billion), nearly quadrupling year-on-year figures. The growth follows regulatory reforms implemented in 2024 that helped the city strengthen its role as a global financial hub. 'The Hong Kong IPO market has picked up its momentum after a slowdown in previous years,' said Edward Au, southern region managing partner for Deloitte China. 'We have expanded our forecast for the Hong Kong IPO market in 2025, expecting around 80 listings to raise approximately HK$200 billion over the year if the market situation continues to be conducive.' Hong Kong's capital market overhaul comes at a time when global financial hubs are competing more fiercely than ever, with sustainable investments gaining significant traction. Au said that the government's 2025-26 Budget builds on this momentum, proposing further reforms to optimise primary and secondary listing thresholds, and streamline post-listing obligations. 'These changes, if implemented promptly, could lower the entry barriers for high-quality overseas issuers and enhance certainty in the listing journey,' he said. Edward Au, southern region managing partner, Deloitte China. Photo: Handout Miguel Latorre, managing director of consulting firm Acclime, described the changes to Chapter 18C for specialist technology companies and the Technology Enterprises Channel as 'definitely a step in the right direction'. 'It sends a clear signal that Hong Kong wants to support innovation and align itself with global environmental, social and governance (ESG) capital flows,' said Latorre. 'By allowing earlier-stage, R&D-heavy companies – especially in green tech – to list before reaching profitability, it lowers a big barrier for companies building long-term solutions.' According to Au, current market momentum has been driven by several key factors. 'We observed a sustained inflow of funds, spurred by renewed global interest in China-related opportunities, particularly in AI and innovation,' he said. Mainland Chinese investors are increasingly participating as they enhance their offshore portfolios, while 'relatively modest' IPO pricing has helped maintain investor interest, he added. The robust pipeline reflects the momentum. Au revealed that HKEX was processing over 170 active IPO applications as of June 18 – a figure that excludes both confidential submissions under the new pathway for specialist technology and biotech companies, as well as secondary listing applicants.
NDTV
2 days ago
- Business
- NDTV
Chinese Firm Unveils World's First Humanoid Robot Capable Of Changing Own Battery
A Chinese firm has launched a humanoid robot that can change its own battery, allowing it to run autonomously for 24 hours in seven days without human intervention. The world's first autonomous robot, Walker S2, has been developed by UBTECH Robotics. Watch the video here: The robot is 5 feet 3 inches tall and weighs around 95 pounds (43 kilograms), the company said in a video posted on YouTube. It has 20 joints or mechanisms that can move in different ways, allowing flexible movement. It is also compatible with Wi-Fi and Bluetooth, which enables seamless connectivity. The robot uses a 48-volt lithium battery in a dual-battery system, allowing it to walk for two hours or stand for four hours before needing a recharge. The battery takes around 90 minutes to fully recharge. The video, posted by the robotics firm, showed the robot working in an industrial setting. The reports have also mentioned that Walker S2 is designed for use in settings like factories or public venues, where it can interact with customers or perform tasks autonomously. The company, established in March 2012, is one of the leading humanoid robots and smart service robots companies. It was officially listed on the main board of the Hong Kong Stock Exchange on 29 December 2023. The company claims it has developed a full stack of humanoid robotic technologies independently to align its mission of "bringing intelligent robots into every family and making everyday life more convenient and intelligent". "We are also one of few companies in the world to accomplish mass production of small torque to large torque servo actuators. Our self-developed Walker is China's first commercialized biped life-sized humanoid robot," the company says.
South China Morning Post
3 days ago
- Business
- South China Morning Post
China's UBTech Robotics eyes US$307 million in Hong Kong share placement
Shenzhen-based UBTech Robotics, China's top maker of humanoid robots, plans to raise about HK$2.41 billion (US$307 million) through a share placement in Hong Kong, according to a filing on Tuesday. The company, which became the first robotics maker on the Hong Kong stock exchange in 2023, is offering 30,155,450 new shares at HK$82 per share, representing a discount of about 9 per cent to the closing price of HK$90.25 on Monday. The new shares would represent around 6.39 per cent of the company's enlarged issued share capital after the placement, it said. UBTech planned to use the proceeds for business operations and development, including working capital, investments, project construction and renovation, as well as for repayment of loans and interest, according to the filing. Since its listing at the end of 2023, the company has carried out a series of follow-on fundraisings, including nearly HK$2 billion in the past 12 months. UBTech shares dropped by about 5.6 per cent to HK$85.15 on Tuesday morning.
Irish Times
4 days ago
- Business
- Irish Times
Profits up at BOC Aviation Irish arm
The Irish arm of aircraft lessor BOC Aviation posted pre-tax profits of $243.3 million (€208.62 million) last year, mainly due to a $158 million insurance payment received concerning 15 aircraft detained in Russia. New accounts filed by the Dublin based BOCAviation (Ireland) Ltd show that the pre-tax profits of $243.3 million for 2024 are 21 per cent down on the pre-tax profits of $308.19 million in 2023. The insurance payouts last year followed $258 million paid out in 2023 under the same heading. Total revenues and other income decreased by 7 per cent to $660.4 million in 2024 from $710.6 million in 2023. READ MORE The 2024 revenues included lease revenues of $374.25 million. The directors state that the decline is mainly due to lower insurance settlements in respect of aircraft owned by the company and formerly leased to Russian airlines which were detained in Russia. The directors state that 'the company is continuing to pursue insurance claims in respect of aircraft currently or formerly detained in Russia'. The directors said that in general, 2024 saw a return to growth across the industry with traffic recovery to near 2019 levels. The Irish unit is a wholly-owned subsidiary of BOC Aviation Limited which is a public company incorporated in the Republic of Singapore and listed on the main board of the Hong Kong Stock Exchange. The insurance settlement concerning the 15 aircraft coincided with the company's professional fee costs increasing by 59 per cent to $12.69 million. At the end of December last, the company had a total of owned and managed aircraft of 142 aircraft, including 111 owned aircraft and 31 managed aircraft. The company recorded a post tax profit of $206.7 million after incurring a corporation tax charge of $36.6 million. The pre-tax profit takes account of non-cash depreciation costs of $166.24 million and finance costs of $181.3 million. The firm last year recorded profits of $22.4 million from $211.92 million realised from the sale of aircraft. The firm employs 11 here and staff costs last year increased by 69 per cent from $3.16 million to $5.33 million that included $4.34 million in salaries, bonuses and other staff costs. Directors' pay last year totalled $963,000 that included emoluments of $731,000. The firm's cash funds last year increased from $119.65 million to $151.16 million. The business paid out no dividend last year. The directors state that total assets were stable year-on-year, at $5.39 billion at December 31st 2024 compared to $5.38 billion one year prior.
South China Morning Post
4 days ago
- Business
- South China Morning Post
Shareholders of mainland Chinese firms look to Hong Kong for family offices: asset manager
Shareholders of mainland Chinese companies are showing increasing interest in setting up family offices in Hong Kong after their initial public offerings amid a swelling pipeline of new listings in the city, according to an asset manager overseeing up to US$2 billion in wealth. 'This week alone, I have met two clients inquiring about family office services and tonight I am meeting another – lots of overtime,' said Wang Fengyu, founder and chairman of Hong Kong-based Oakwise Capital, in an interview on Wednesday. With a US$100 million minimum threshold of entry for its multifamily office services, the firm – established in 2021 – served 10 clients, managing a total of US$1.5 billion to US$2 billion. Around 70 per cent of these clients were shareholders of Hong Kong-listed companies with market capitalisations of HK$5 billion (US$637 million) to HK$50 billion. Wang noted a rise in demand from such clients over the past year, a trend he expected to continue with a growing number of mainland companies lining up for share sales. The city's bourse has hosted 50 listings, raising a total of US$15.8 billion as of July 16. Of those, 44 firms hailed from the mainland, accounting for most of the funds raised, according to data provided by the London Stock Exchange Group. View of West Kowloon in Hong Kong. Photo: Jonathan Wong
