Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

An inquisitive investment analyst with background in both finance and computing. Covering ECM research, biotech, market data analytics.

Asia Pac ECM and Index Rebal

HK A+H IPO 2025 Cornerstone Lock-Up Expiry: Price and Liquidity Evidences

HK A+H IPO 2025: Essential Statistics Ahead of the 2026 Wave

HK Biotech IPO 2025: A Statistical Review

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Equity Capital Markets

GigaDevice Semiconductor / Equity Capital Markets

<ul>
<li>In this note, we continue our previous work on the essential statistics on A+H IPOs in 2025. We include new listings since our last report and deepen the research.</li>
<li>We re-examine time-series trends in IPO performance, subscription dynamics, market sentiment, A-H premium dynamics, and sponsor performance, as well as sector-level breakdown.</li>
<li>We extend the analysis to incremental drivers of post-listing performance.</li>
</ul>


In this note, we continue our previous work on the essential statistics on A+H IPOs in 2025. We include new listings since our last report and deepen the research.
We re-examine time-series trends in IPO performance, subscription dynamics, market sentiment, A-H premium dynamics, and sponsor performance, as well as sector-level breakdown.
We extend the analysis to incremental drivers of post-listing performance.


Shenzhen Woer Heat Shrinkable Mat (002130 CH)

Shenzhen Han's CNC Technology (301200 CH)

HK A+H IPO 2026: Performance Drivers, Premium Dynamics, and 2W Return Attribution