Monthly IPO Report for Hong Kong Stocks | 100% Success Rate on Debut Day in April! Net Profit of HKD 33,530 for One Lot of Sige New Energy, Mutual Funds Increase Investment in Hong Kong IPOs

In April 2026, the Hong Kong IPO market remained vibrant with a total of eight new stocks successfully listed. Although this is fewer than the 15 listings in March, both subscription performance and market performance were remarkable:

All new stock offerings were oversubscribed by more than 400 times, with Xizhi Technology-P securing the second spot on this year's oversubscription list at 5,784.7 times.

Investor sentiment for capital subscriptions was high, with each new stock raising over 40 billion Hong Kong dollars. Xizhi Technology-P and Shenghong Technology raised over 530 billion Hong Kong dollars each, while Qunhe Technology raised nearly 160 billion Hong Kong dollars.

All newly listed stocks surged strongly on their debut day, with an average increase of 138.3%. Xizhi Technology-P topped the list with a 383.6% rise, becoming the best-performing IPO in terms of first-day gains this year. Shangmi Technology ranked second with a 241.11% gain.

Newly listed stocks showed strong profitability on their first trading day, with an average gain of 8,768 Hong Kong dollars per lot. Sigen New Energy earned 33,530 Hong Kong dollars per lot on its debut day, ranking first on this year's list of IPO returns! First-day returns for both Xizhi Technology-P and Shenghong Technology exceeded 10,500 Hong Kong dollars per lot.

The AI sector has performed strongly this year, with widespread gains among new stocks related to the industry chain.

The AI sector in Hong Kong stocks has seen a booming market this year, with multiple stocks doubling in value within the year. For instance, Zhimap has risen more than sixfold since the beginning of the year, and MiniMax has surged over threefold. This has also driven AI-related industrial chain stocks in Hong Kong to become key players in new stock subscriptions. Five out of this month’s new listings are linked to the AI supply chain, and all showed impressive performance on their debut day.

$SIGENERGY (06656.HK)$The stock closed up nearly 112% on its first day, earning 33,530 Hong Kong dollars per lot and ranking first in terms of first-day returns for new stocks this month.

The company is the world’s leading provider of stackable distributed solar-storage integrated solutions. By integrating AI and advanced software technology, it offers solar power generation, energy storage, and charging products for households and businesses. Its flagship product is SigenStor.

The world's first AI optical computing stock$XIZHI TECH-P (01879.HK)$The stock surged nearly 384% on its debut day, ranking first in terms of gains, with investors earning 10,542 Hong Kong dollars per lot.

The company's self-developed three core technologies - photon matrix computing (oMAC), on-chip optical network (oNOC), and inter-chip optical network (oNET) - serve as the foundation to build two product lines for optical computing and optical interconnection, providing computational power support solutions for the AI and big data era.

$SUNMI TECH-W (06810.HK)$The stock closed up 241.11% on its first day, ranking second on the gainers list, with a profit of HKD 5,994 per lot.

Sunmi Technology is a globally leading provider of business IoT (BIoT) solutions, using IoT terminals, AIOS, and cloud platforms as its technological base to create an end-to-cloud collaborative AI engine that helps fully digitize the physical world.

$VGT (02476.HK)$The stock surged over 84% on its first day, with a profit of HKD 10,512 per lot, ranking third in this month’s new stock debut earnings.

Shenghong Technology is one of the leading suppliers of advanced AI and high-performance AI computing printed circuit board (PCB) products, holding a 13.8% market share in the first half of 2025, ranking first globally. Core applications include AI computing cards, servers, AI servers, and data center switches, among other key equipment.

$MANYCORE TECH (00068.HK)$The stock surged 150% on its first day, ranking third on the gainers list, with a return of HKD 5,490 per lot.

The company is a global leading provider of spatial intelligence services, leveraging GPU to compute and simulate the physical world, committed to accelerating the integration of AI into the physical realm. Products include China's largest spatial design platform, Coolhome, its international version Coohom, and the SwarmCore Spatial Intelligence Platform (SpatialVerse) for indoor environment AI development.

Institutions believe that under an environment of high oil prices and weak economic recovery, the differentiation in the Hong Kong stock market in 2026 may further intensify, with investment opportunities concentrated in the intersection of heavy asset value restoration and AI infrastructure. In terms of second-quarter positioning strategies, it is advisable to avoid sectors crowded with capital and instead focus on hard-core quality assets with low liquidation risk and high safety margins.

The market has a favorable view of HALO’s heavy-asset, low-elimination strategy. Against the backdrop of rapid AI technology iteration, physical underlying assets such as power utilities, energy infrastructure, and data centers are irreplaceable. They can hedge against industry uncertainties brought by technological iteration while benefiting from AI computational expansion and growing energy demand, offering significant potential for value reevaluation.

Publicly offered funds increase their investments in Hong Kong IPOs, with domestic institutions significantly raising their participation levels.

One notable feature of this month's Hong Kong stock subscription market isthe active participation of leading public funds in cornerstone investments for Hong Kong IPOs.The newly listed$VGT (02476.HK)$cornerstone lineup includes institutions like Tianhong Fund and Sunlight Life Insurance; among the 'Hangzhou Six Dragons,'$MANYCORE TECH (00068.HK)$brought together Guangfa Fund, Sunlight Life Insurance, Taikang Life Insurance, and others in joint participation;$GPIXEL (03277.HK)$the cornerstone list features leading public fund institutions such as China AMC, E Fund, and Guangfa Fund.

Industry insiders noted that the current stance of these institutions marks a stark contrast to three years ago. In 2023, Hong Kong stocks continued to face valuation pressures, causing public funds to adopt a cautious wait-and-see approach overall. Even when Chinese concept companies like Zhenjiu Lidu and Fourth Paradigm went public on the Hong Kong IPO market, public funds were rarely seen among cornerstone investors. However, the recent influx of public funds into cornerstone investments for Hong Kong new shares reflects these institutions' renewed evaluation of Hong Kong stocks' long-term allocation value, choosing to position themselves in high-quality technology innovation and core assets during a low valuation phase. Investment focus has shifted from 'speculating on new share volatility' to 'earning predictable returns,' with increasingly stringent scrutiny applied to the quality of investment targets.

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