Chinese Mainland and Hong Kong IPO Markets Q1 2023 Review
A-share IPO pipeline
A-share IPO active applicants
1200
1,138
139
1000
974
924
943
917
70
124
99
819
795
780
800
739
69
53
469
482
600
430
390
360
420
313
389
368
400
207
169
164
150
224
186
181
141
197
200
323
296
315
287
218
204
231
218
153
0
2021
Q1
2021
Q2
2021
Q3
2021
Q4
2022
Q1
2022
Q2
2022
Q3
2022
Q4
2023
Q1
A-share IPO applications -
2023 Q1 sector breakdown
By number of companies
Total number of companies: 819
Others 7%
ENR 5%
■Consumer markets-
8%
Healthcare /
Life sciences
10%
■Industrials
42%
■Active applicants - traditional market
■Active applicants - ChiNext
■Active applicants - STAR Market
■Active applicants - BSE
TMT
28%
Note: All analysis is based on WIND data and included REIT deals as of 23 March 2023. Active applicants included applications suspended due to the expiry of their financial information (*).
Historically these applications have been reactivated promptly with updated financial information submitted by the listing applicant.
Source: Wind and KPMG analysis
KPMG
57% of active applicants are applying for the
STAR Market and ChiNext, with a focus on new
technologies, new industries and outstanding
innovation capabilities.
© 2023 KPMG, a Hong Kong (SAR) partnership, are member firms of the KPMG global organisation of independent member firms
affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved
Ett
Industrials and TMT remain the top sectors
among A-share IPO applicants, representing
approximately 70% of the active IPO pipeline.
Chinese Mainland and Hong Kong IPO markets | 12View entire presentation