Yesterday, the Chief Executive of Hong Kong made his first public policy statement. It mentioned two major changes in the Hong Kong stock IPO rules. Let's take a look at the impact on the IPO market.
The first change is $HKEX (00388.HK)$The main board rules will be revised to support the financing of advanced technology companies with no profit or performance support.
For the impact of this on the market, you can refer to the previous reform of BioB's listing. In 2018, under the reforms promoted by Li Xiaojia, the unprofitable Pharmaceutical B began to be allowed to be listed on Hong Kong stocks, initially $Pharmaceutical Companies (LIST1254.HK)$The market was lackluster, but by '19, it was $INNOVENT BIO (01801.HK)$、 $CANSINOBIO (06185.HK)$Wait for Pharmaceutical B, and the Hong Kong stock market started a new wave of big votes.
Similarly, in this round of unprofitable technology stocks, there will be a certain scarcity at the beginning, and it is likely that they will replicate the previous performance of pharmaceutical B-shares. Of course, the premise is that the Hong Kong stock market will improve, just as pharmaceutical B-shares existed in '18, but they only began to gain strength after the market improved in '19.
However, in the future, there are two points to pay attention to when unprofitable technology B-shares are launched:
The first point is to polish your eyes and keep away from falsehood and truth. After all, there is no financial data to use as a basis for judgment, which probably tests the professional ability of newcomers.
The second point is the scarcity premium issue. At first, there was no...