Hong Kong IPOs are often oversubscribed by a thousand times, sending multiple signals.

On April 14th, Hangzhou Qunhe Information Technology Co., Ltd., one of the "Six Dragons of Hangzhou", closed its Hong Kong IPO subscription. Brokerage data shows that Qunhe Technology's public offering this time received an oversubscription of approximately 1071 times, with a financing subscription amount of 131.2 billion Hong Kong dollars. Since the beginning of 2026, thousandfold subscriptions for Hong Kong IPOs have been frequent. Data shows that as of April 16th, among the 41 new stocks listed this year, 22 new stocks had oversubscriptions of over a thousand times. Among them, BBSB INTL set a record with a subscription of 10,745 times, while Ule Excellence, Haidong Technology Group, Huayan Robotics, and other new stocks all had subscriptions exceeding 5000 times. The frequent occurrence of thousandfold oversubscriptions indicates the continued attractiveness of high-quality assets in the Hong Kong stock market, significant profit-making effects for new stocks, and a reshaping of the valuation logic for Hong Kong stocks.