On May 6, 2025, the Securities and Futures Commission ("SFC") and The Stock Exchange of Hong Kong Limited (the Exchange) jointly announced the launch of a dedicated Technology Enterprises Channel ("TECH"). This new channel is designed to facilitate New Listing applications from Specialist Technology Companies and Biotech Companies. Additionally, a new confidential filing option was introduced for these companies.,The Exchange has updated its Guide for New Listing Applicants, presuming that these companies have met the Innovative Company Requirements and the external validation requirement for listing with a weighted voting right ("WVR") structure under Main Board Chapter 8A.,Mr. Michael Duignan, Executive Director of Corporate Finance at the SFC, emphasized the SFC's support for TECH and the new confidential filing option, highlighting that this strengthens Hong Kong’s position as a leading listing platform for emerging and innovative companies. This initiative demonstrates the SFC's commitment to developing a diverse and high-quality listing market while ensuring a robust regulatory environment.,Ms. Katherine Ng, HKEX's Head of Listing, expressed the Exchange's commitment to attracting high-quality companies by supporting prospective issuers. TECH provides early guidance to Specialist Technology Companies and Biotech Companies, helping them navigate regulatory requirements efficiently. This initiative underscores HKEX's mission to drive technological advancements and elevate market competitiveness.,On May 6, 2025, the Hong Kong Stock Exchange ("HKEX") launched a specialized service to assist prospective Specialist Technology Companies and Biotech Companies with understanding listing rules and preparing for their listing on the Main Board. The service includes a dedicated team with relevant experience in reviewing applications under Main Board Chapters 18C and 18A, engaging with prospective companies to gain deeper knowledge of their specific businesses, and providing guidance on listing rule requirements. Additionally, it offers advice on eligibility and suitability for listing, such as requirements for core products, acceptance of other biotech products, clinical trial regulations, qualifications and independence of sophisticated investors, acceptable sectors for Specialist Technology Industries, and the acceptance of new sectors/industries outside the current scope. Furthermore, it provides opportunities to discuss and seek the Exchange’s preliminary guidance on case-specific issues under the Listing Rules.,On May 6, 2025, the Exchange announced a new provision to assist early-stage technology and biotech companies. These companies are typically in their early stages of development or yet to commercially launch their products.,The Exchange will permit these companies to submit their application proofs confidentially to mitigate risks of premature disclosures. This confidential filing option is available for listing applications under Main Board Chapters 18C and 18A after the date of this announcement.,On May 6, 2025, the listing regimes under Main Board Chapters 8A, 18C, and 18A were discussed, designed for emerging and innovative applicants. Companies meeting the criteria under Main Board Chapters 18C and 18A qualify as innovative companies for Chapter 8A, subject to the Innovative Company Requirements and external validation. For further details, refer to Chapters 2.2, 2.3, and 2.5 of the Guide.,Prospective applicants seeking to list under TECH may initiate communication with the Exchange following instructions set out on the Exchange’s TECH webpage.
