New applicants must pass one of the following three tests:

1) Profitability test: the accumulated profit for three years is ≥ 50 million Hong Kong dollars; And the market value at the time of listing is at least HK$ 500 million;

2) Market value/income test: the market value at the time of listing is at least HK$ 4 billion; Its income in the latest audited financial year is at least HK$ 500 million;

3) Market value/income/cash flow test: the market value at the time of listing is at least HK$ 2 billion; Its income in the latest audited financial year is at least HK$ 500 million; The operating cash inflow in the first three fiscal years was at least HK$ 654.38 billion.

It is worth mentioning that, from June 5438+1 October1day, 2022, the profit threshold for listing on the main board of HKEx has been greatly increased by 60%, and the profit distribution has been changed to 56%: 44%, that is, the profits attributable to shareholders of listed companies on the main board of HKEx in the next three years must meet the following minimum requirements: not less than HK$ 35 million in the latest fiscal year. The accumulated amount in the previous two fiscal years is not less than HK$ 45 million.

2. Continuity of management, ownership and control

Management and ownership have been continuous for at least the last three years, and the company must remain basically the same in the last three fiscal years, with the management unchanged; 2) Keep the ownership and control unchanged in the latest audited fiscal year.

3. Minimum public shareholding

At any time, at least 25% of the total issued share capital of the issuer must be held by the public. If the issuer's market value exceeds HK$ 65.438+000 billion at the time of listing, the Hong Kong Stock Exchange may accept a public shareholding as low as 654.38+05% as appropriate.

4. Distribution of shareholders

The number of shareholders must be at least 300, and the proportion of securities held by the public at the time of listing beneficially owned by the three public shareholders with the highest shareholding ratio shall not exceed 50%.

There must be at least three independent directors, who must account for at least one third of the board of directors.

6. Financial reports are required to be submitted every six months.

If you want to participate in the ipo subscription of the main board of Hong Kong stocks, you can refer to Hong Kong stocks, US stocks, futures account trading and other services, or sponsor the IPO listing of Hong Kong stocks. At present, you have the license of 1/2/3/4/5/6/9 for regulated activities issued by the Hong Kong Securities Regulatory Commission.