Not wearing "green shoes" has become a trend, A+H companies value being included in the Hong Kong Stock Connect on the first day.

In May 2025, Jihong Corporation took the lead in trying to abandon the greenshoe mechanism, becoming the first A+H company to be included in the Stock Connect on the first day of its H-share listing. Since then, this model has been adopted by more companies. Since 2026, several A-share companies, including Zhaowei Electromechanical, Guanghe Technology, and National Technology, have used this strategy when listing H-shares in Hong Kong. At the same time, many companies planning to list in Hong Kong have clearly stated in their prospectus that they plan to abandon the greenshoe mechanism. Whether to abandon the greenshoe and prioritize inclusion in the Stock Connect as soon as possible not only affects the company's own listing pace and fundraising effectiveness, but also reflects the influence of the liquidity environment and pricing mechanism of the Hong Kong stock market on the capital operation choices of companies, thereby subtly shaping the market ecology.