The trend of listing in Hong Kong is surging, the price of A-H shares is hanging upside down, or "the small lotus has just revealed its sharp tip".

Recently, the A-share market has set off a wave of enthusiasm for Hong Kong IPOs, with many leading companies announcing plans to launch H-share offerings, while companies already listed on the Hong Kong stock exchange have performed impressively. Among them, leading power battery maker CATL's stock price has been climbing steadily since it went public on the Hong Kong Stock Exchange, with its H-share price even surpassing its A-share price, attracting widespread market attention. At the same time, the H-share prices of companies such as BYD and China Merchants Bank have exceeded their A-share prices, causing the phenomenon of H-shares trading at a premium to become a market focus. Looking ahead, Guotai Junan Securities believes that the AH premium rate is not a constraint on Hong Kong stocks, and there is still room for further decline. With the empowerment of "AI+", the narrative logic of internet giants and technology giants will be further strengthened, and with the interim success of anti-monopoly supervision of internet platforms, the AH premium rate is expected to return to relatively low levels seen during 2016-2019.