By Jason Chau
Shares of two Chinese companies in the technology space soared on their first day of trading in Hong Kong, further burnishing the city's credentials as a top listing hub.
Nuobikan Artificial Intelligence Technology's stock surged as much as 346% from its initial public offering price of 80 Hong Kong dollars in Tuesday's morning session. Shares were still up by more than 330% in recent trading.
The Chengdu-based company, which develops AI-powered infrastructure solutions for monitoring, inspecting and maintaining railway operations and power grids, raised HK$302.9 million, equivalent to US$38.9 million, in its IPO.
The strong debut reflects Chinese investors' continued fervor for all things artificial intelligence following the success of homegrown AI developer DeepSeek earlier this year.
This renewed investor confidence has pushed many Chinese AI startups to expedite their fundraising through public offerings. Among them is AI chip maker Shanghai Biren Technology, which is seeking to raise HK$4.85 billion in a Hong Kong IPO and is slated to start trading at the beginning of 2026. Earlier this month, fellow chip maker Moore Threads surged 425% on its Shanghai debut.
Shares of QingSong Health, a digital health and insurance platform, also surged in its Hong Kong debut on Tuesday, trading about 160% higher recently. Hanx Biopharmaceuticals stood out for its weak performance, falling more than 40% on its first trading day. The two companies raised a combined HK$1.19 billion in their IPOs.
Hong Kong ranks as the world's top IPO venue in 2025, according to Hong Kong Exchanges & Clearing. IPOs in the city have raised HK$274.6 billion this year through Friday, the exchange operator said Monday.
Write to Jason Chau at jason.chau@wsj.com
(END) Dow Jones Newswires
December 23, 2025 02:17 ET (07:17 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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