HK IPO Sponsors

Sponsor Rankings
150
Total Sponsors
146
Sponsors w/ Data
30.1%
Avg First-Day Fall Rate

Sponsor Performance Analysis

Sponsor IPO Count (Top 20)

Sorted by total IPO count descending. Each IPO where the firm acted as sponsor is counted; joint sponsorships are counted separately.

IPO Count vs Avg First-Day Return

Each dot represents a sponsor. X-axis: number of IPOs sponsored. Y-axis: average first-day return. Only sponsors with ≥2 IPOs and first-day data are shown. Dot size reflects IPO count.

First-Day Performance Distribution (Top 20)

Selection: Top 20 sponsors by IPO count, showing only those with ≥3 first-day performance data points (minimum required for boxplot). Sorted by IPO count descending.

Sponsor System & Investor Education

This page aggregates the performance of all HK IPO sponsors with available data. Sponsors are the most critical intermediaries in an IPO — understanding their role and historical performance helps investors assess IPO quality and credibility.

1. What Is a Sponsor?

A Sponsor is the IPO's "lead coordinator" and "quality gatekeeper," formally appointed by the listing company and bearing legal responsibility for the truthfulness, accuracy, and completeness of the prospectus.

Core responsibilities of a sponsor:
• Due Diligence: Conduct a comprehensive review of the company's business, financials, and legal standing
• Prospectus Drafting: Lead the drafting of the listing document, ensuring disclosures meet HKEX requirements
• Listing Application: Submit the listing application to HKEX on behalf of the company and respond to inquiries
• Pricing Coordination: Work with underwriters to determine the indicative price range and final offer price
• Continuing Obligations: Provide compliance guidance for at least one full financial year post-listing

Sponsor vs Underwriter: Sponsors focus on pre-listing due diligence and disclosure quality, bearing legal liability; underwriters focus on selling and distributing the shares. An IPO may have multiple sponsors (joint sponsors) and multiple underwriters.

Why track sponsor rankings?
• A sponsor's historical track record may partially reflect its deal selection and pricing capabilities
• IPOs sponsored by the same firm often show some consistency in first-day performance
• Reputable sponsors typically attract greater institutional investor participation

Important: Past sponsor performance does not guarantee future returns. Sponsors are only responsible for disclosure quality, not for share price performance. Investors should independently assess company fundamentals, industry outlook, and market conditions.

2. How to Read the Three Charts

Chart 1: Sponsor IPO Count (Top 20)
A horizontal bar chart showing the top 20 sponsors by IPO count. This measures market activity, but quantity does not equal quality — always cross-reference with Charts 2 and 3.

Chart 2: IPO Count vs Avg First-Day Return
Each dot represents a sponsor. X-axis: IPO count. Y-axis: average first-day return. This chart reveals both "high-volume, high-quality" (upper-right) and "high-volume, low-quality" (lower-right) sponsors. Only sponsors with ≥2 IPOs and first-day data are shown.

Chart 3: First-Day Performance Distribution (Top 20)
A boxplot showing the first-day return distribution for the top 20 sponsors. The box represents the middle 50% of IPO returns; the center line is the median. Narrower boxes indicate more consistent performance; higher medians indicate better overall returns.

Table Guide: The ranking table supports sorting by IPO count, first-day return, and other dimensions. Click column headers to toggle sort order. Use the search box to find a specific sponsor.

The educational content on this page is based on publicly available HKEX information and market conventions. Sponsor data is derived from HKEX listing documents; first-day return data comes from public market prices. Past performance does not predict or guarantee future results.

Sponsor Composite Rankings

# Sponsor Name Sponsored IPOs First-Day Fall Rate Avg First-Day Chg Best IPO Worst IPO
1 中国国际金融香港证券有限公司 CE AEN894 266 35.4% +14.91% 01879 +383.62% 02581 -49.46%
2 摩根士丹利亚洲有限公司 CE AAD291 144 33.6% +10.96% 01024 +160.87% 02041 -42.93%
3 中信证券(香港)有限公司 CE AAK249 141 29.9% +26.39% 06810 +241.11% 06132 -56.89%
4 高盛(亚洲)有限责任公司 CE ACC536 119 35.6% +10.37% 06606 +215.08% 02666 -38.88%
5 海通国际资本有限公司 CE ADQ859 90 22.7% +15.54% 01879 +383.62% 02632 -36.92%
6 建银国际金融有限公司 CE AJO225 86 31.4% +8.85% 00068 +144.09% 02592 -38.61%
7 瑞银证券香港有限公司 CE BIN466 86 39.5% +7.15% 06606 +215.08% 02586 -54.32%
8 国泰君安融资有限公司 CE AGS488 85 20.0% +38.92% 08127 +966.67% 02230 -31.11%
9 华泰金融控股(香港)有限公司 CE AOK809 83 40.2% +9.57% 02526 +111.72% 02592 -38.61%
10 花旗环球金融亚洲有限公司 CE AAA137 74 44.4% +1.80% 00909 +86.06% 02581 -49.46%
11 Merrill Lynch (Asia Pacific) Limited CE AAC198 69 26.5% +11.58% 01024 +160.87% 02026 -29.94%
12 招银国际融资有限公司 CE AVM940 59 25.9% +16.95% 02706 +242.2% 02586 -54.32%
13 摩根大通证券(远东)有限公司 CE AAB026 58 42.9% +6.56% 00068 +144.09% 09863 -33.54%
14 中信建投(国际)融资有限公司 CE BAU112 55 26.4% +14.29% 06117 +166.67% 02560 -47.67%
15 农银国际融资有限公司 CE AWL249 49 28.6% +13.52% 06810 +241.11% 06086 -44.62%
16 中银国际亚洲有限公司 CE AET863 49 32.7% +21.26% 02672 +367.95% 06678 -40.71%
17 招商证券(香港)有限公司 CE AAI650 45 26.7% +13.49% 02661 +158.82% 02586 -54.32%
18 丰盛融资有限公司 CE AFZ323 41 17.1% +205.80% 08221 +2033.33% 01660 -22.5%
19 中信里昂证券有限公司 CE AAB893 40 27.0% +56.89% 02591 +206.48% 06132 -56.89%
20 瑞士信贷(香港)有限公司 CE AAO017 40 35.0% +7.71% 00772 +86.18% 02390 -23.58%
21 中国光大融资有限公司 CE ACE409 39 31.6% +69.03% 08052 +1900.0% 02450 -44.5%
22 交银国际(亚洲)有限公司 CE API271 38 39.5% +7.35% 01384 +150.56% 02567 -56.73%
23 法国巴黎证券(亚洲)有限公司 CE AAF669 35 51.4% +4.38% 06656 +85.07% 00312 -17.73%
24 创升融资有限公司 CE BDT371 33 27.3% +62.61% 08057 +726.67% 02680 -45.56%
25 香港上海汇丰银行有限公司 CE AAA523 29 53.6% +1.23% 06808 +40.55% 03319 -23.09%
26 申万宏源融资(香港)有限公司 CE ABC209 29 27.6% +141.51% 08316 +2242.86% 02567 -56.73%
27 汇富融资有限公司 CE ACB578 29 27.6% +75.27% 08133 +965.0% 02187 -29.33%
28 麦格理资本股份有限公司 CE AAC534 28 42.9% +3.02% 01981 +58.71% 01762 -15.73%
29 德意志证券亚洲有限公司 CE AAJ984 26 34.6% +17.63% 06810 +241.11% 02026 -29.94%
30 工银国际融资有限公司 CE AQW615 24 16.7% +13.82% 02723 +265.77% 03378 -46.25%
31 信达国际融资有限公司 CE AEE541 24 41.7% +12.88% 01472 +148.0% 01327 -39.09%
32 力高企业融资有限公司 CE BGE921 24 37.5% +59.29% 08035 +851.22% 03938 -36.31%
33 大有融资有限公司 CE AHH635 24 12.5% +434.56% 08369 +1900.0% 02682 -44.0%
34 德健融资有限公司 CE BGC821 24 16.7% +41.36% 08321 +700.0% 01937 -36.79%
35 同人融资有限公司 CE BBN260 23 23.8% +34.35% 08549 +330.0% 01692 -33.85%
36 J.P. Morgan Securities (Asia Pacific) Limited CE AAJ321 22 27.3% +4.69% 02476 +50.09% 01266 -19.62%
37 广发融资(香港)有限公司 CE AOB163 21 19.0% +14.09% 03326 +53.76% 02643 -14.16%
38 民银资本有限公司 CE BIY679 19 26.3% +50.14% 02672 +367.95% 06918 -34.78%
39 德意志银行香港分行 18 27.8% +11.13% 07666 +126.67% 01733 -8.65%
40 派杰亚洲有限公司 CE AEG682 18 33.3% +95.08% 08300 +1166.67% 08511 -23.85%
41 华富建业企业融资有限公司 CE ACR487 17 6.2% +191.40% 08245 +1145.61% 01522 -27.0%
42 富强金融资本有限公司 CE ARN695 17 43.8% +1.79% 01730 +71.05% 01650 -46.4%
43 星展亚洲融资有限公司 CE AAE430 16 50.0% +16.00% 02697 +216.96% 02290 -45.75%
44 中国银河国际证券(香港)有限公司 CE AXM459 16 6.2% +103.38% 08278 +1330.43% 01746 -30.77%
45 浩德融资有限公司 CE AGH102 16 25.0% +242.73% 08097 +1556.0% 01346 -27.06%
46 均富融资有限公司 CE BJK556 16 50.0% +15.55% 02535 +164.0% 02195 -41.07%
47 富比资本有限公司 CE BFY886 16 25.0% +106.13% 08240 +1500.0% 08096 -32.14%
48 中泰国际融资有限公司 CE BBY334 15 60.0% -3.76% 02797 +162.5% 01942 -50.0%
49 富瑞金融集团香港有限公司 CE ATS546 14 42.9% +25.76% 07666 +126.67% 01228 -26.93%
50 中信证券融资(香港)有限公司 CE ABF671 13 30.8% +3.66% 01115 +23.0% 01478 -6.1%
51 创侨国际有限公司 CE AZV179 13 23.1% +51.84% 08121 +300.0% 02448 -17.5%
52 国泰君安证券(香港)有限公司 CE ABY236 12 16.7% +28.21% 06675 +127.12% 01688 -4.62%
53 铠盛资本有限公司 CE BAD783 12 25.0% +56.98% 08093 +496.36% 00331 -25.09%
54 东兴证券(香港)有限公司 CE BBY779 12 41.7% +26.03% 01695 +158.33% 01156 -28.57%
55 西证(香港)融资有限公司 CE AIC042 12 25.0% +29.68% 02427 +230.19% 01545 -10.0%
56 海通国际证券有限公司 CE AAF806 11 20.0% +20.85% 01236 +127.62% 02632 -36.92%
57 第一上海融资有限公司 CE AES612 11 45.5% +5.43% 09938 +60.0% 03992 -16.0%
58 域高融资有限公司 CE AIO499 11 18.2% +42.82% 08027 +170.0% 02263 -20.0%
59 天财资本国际有限公司 CE AUW496 11 9.1% +375.54% 08182 +1525.0% 08417 -2.94%
60 建泉融资有限公司 CE AME341 11 36.4% +190.58% 08290 +2100.0% 06822 -24.64%
61 兴业金融融资有限公司 CE AGC194 11 27.3% +61.23% 08346 +428.3% 01235 -25.4%
62 东方融资(香港)有限公司 CE BDN128 10 33.3% +29.15% 03625 +100.0% 03681 -21.05%
63 浦银国际融资有限公司 CE BFZ375 10 20.0% +30.81% 01384 +150.56% 02512 -17.39%
64 安信融资(香港)有限公司 CE AVL376 10 50.0% -3.93% 01084 +16.38% 08017 -27.34%
65 智富融资有限公司 CE BIM668 10 33.3% +10.11% 08107 +77.78% 08401 -15.24%
66 国金证券(香港)有限公司 CE AAI195 9 33.3% +39.27% 02155 +258.87% 02680 -45.56%
67 中国平安资本(香港)有限公司 CE AWB701 9 33.3% +42.39% 02583 +258.11% 02440 -26.74%
68 南华融资有限公司 CE AAI635 9 22.2% +14.92% 08441 +78.13% 01957 -56.88%
69 红日资本有限公司 CE BHX435 9 66.7% -0.78% 01960 +60.0% 02381 -43.6%
70 华金融资(国际)有限公司 CE AAZ354 8 62.5% +7.16% 03830 +62.5% 01592 -30.0%
71 兴证国际融资有限公司 CE BAK956 7 28.6% -3.91% 01580 +20.0% 02528 -27.0%
72 八方金融有限公司 CE AVW345 7 14.3% +39.82% 01711 +185.71% 01536 -8.7%
73 凯基金融亚洲有限公司 CE ADT039 7 14.3% +71.13% 08349 +388.57% 08353 -18.92%
74 络绎资本有限公司 CE BBT182 7 14.3% +217.23% 08432 +1296.55% 08523 -20.0%
75 野村国际(香港)有限公司 CE AAF742 6 83.3% -10.27% 09923 +6.13% 02666 -38.88%
76 国信证券(香港)融资有限公司 CE AUX600 6 25.0% +94.56% 03601 +218.52% 03737 -2.85%
77 天泰金融服务有限公司 CE BFR957 6 0.0% +21.48% 01872 +46.51% 08208 +0.0%
78 天达融资亚洲有限公司 CE AFT069 6 16.7% +20.96% 08152 +89.36% 01127 -10.0%
79 联昌证券有限公司 CE AAW351 6 33.3% +16.21% 01682 +108.33% 01962 -26.06%
80 申万宏源证券(香港)有限公司 CE AAC927 5 20.0% +63.32% 02650 +192.14% 02567 -56.73%
81 国元融资(香港)有限公司 CE BDV271 5 0.0% +61.52% 06658 +193.71% 02863 +0.0%
82 光银国际资本有限公司 CE BGH296 5 40.0% +7.78% 02159 +26.33% 01354 -11.47%
83 中毅资本有限公司 CE BGB919 5 20.0% +32.36% 08659 +90.0% 02147 -17.65%
84 越秀融资有限公司 CE BOA034 5 20.0% +17.64% 02553 +44.25% 08629 -4.04%
85 上银国际有限公司 CE BDP643 5 20.0% +814.41% 08091 +2937.04% 01612 -6.0%
86 新源资本有限公司 CE AWF017 5 0.0% +494.63% 08149 +1170.59% 08547 +0.0%
87 长江证券融资(香港)有限公司 CE AZG536 5 40.0% -4.52% 01577 +8.33% 03395 -33.04%
88 Sunfund Capital Limited CE BFX711 5 0.0% +417.99% 08411 +2005.0% 08392 +11.36%
89 工银国际证券有限公司 CE ARO299 4 50.0% +52.07% 02723 +265.77% 03378 -46.25%
90 华兴证券(香港)有限公司 CE AZX839 4 0.0% +41.62% 01024 +160.87% 02498 +0.0%
91 博思融资有限公司 CE BIO107 4 25.0% +63.14% 02115 +213.89% 08448 -0.43%
92 大和资本市场香港有限公司 CE AAB639 4 25.0% +6.80% 01390 +28.69% 02198 -1.48%
93 广发证券(香港)经纪有限公司 CE AOB364 4 0.0% +27.36% 02476 +50.09% 09973 +3.8%
94 时富融资有限公司 CE ADT047 4 0.0% +64.12% 08327 +166.67% 08308 +11.67%
95 渣打证券(香港)有限公司 CE AAF212 4 50.0% +2.23% 02014 +10.74% 00884 -1.5%
96 英高财务顾问有限公司 CE AAD350 4 0.0% +116.43% 08341 +280.95% 08442 +8.7%
97 金利丰财务顾问有限公司 CE AFD077 4 0.0% +46.77% 08187 +156.0% 08473 +3.7%
98 鼎珮证券有限公司 CE AAC621 4 25.0% +8.53% 01775 +22.22% 02189 -6.67%
99 民银证券有限公司 CE APU820 3 0.0% +87.42% 02272 +203.92% 02573 +21.43%
100 大华继显(香港)有限公司 CE AAW261 3 66.7% -15.10% 02209 +5.49% 08637 -39.26%
101 东吴证券国际融资有限公司 CE BBG379 3 66.7% -11.82% 01643 +6.78% 02439 -35.24%
102 新百利融资有限公司 CE BAU754 3 0.0% +7.25% 08168 +12.5% 08439 +0.49%
103 英皇企业融资有限公司 CE ADG809 3 0.0% +64.93% 01711 +185.71% 01284 +0.0%
104 中州国际融资有限公司 CE ABC734 3 66.7% +457.83% 08355 +1397.22% 08609 -21.0%
105 汇盈融资有限公司 CE AAG899 3 33.3% +351.81% 08238 +972.97% 06828 -9.46%
106 东英亚洲有限公司 CE ABD082 3 33.3% +45.17% 01500 +80.3% 01260 -3.6%
107 永丰金证券(亚洲)有限公司 CE BIZ502 3 0.0% +21.02% 00640 +55.0% 00948 +3.89%
108 脉搏资本有限公司 CE BIK292 3 33.3% +20.50% 08516 +87.5% 08645 -30.0%
109 瑞穗证券亚洲有限公司 CE AEZ953 2 0.0% +3.33% 01372 +6.67% 01616 +0.0%
110 日进资本有限公司 CE BOS085 2 0.0% +36.22% 02321 +41.07% 02569 +31.37%
111 元大证券(香港)有限公司 CE ABS015 2 100.0% -6.57% 06868 -3.67% 06828 -9.46%
112 创越融资有限公司 CE AAH672 2 50.0% -5.00% 01152 +6.0% 01540 -16.0%
113 卓亚(企业融资)有限公司 CE AZF630 2 50.0% -2.89% 01273 +1.04% 08142 -6.82%
114 竤信国际有限公司 CE BNE952 2 0.0% +13.39% 01473 +26.79% 01987 +0.0%
115 华邦融资有限公司 CE BHD369 2 50.0% -2.72% 08377 +4.0% 08482 -9.45%
116 金英证券(香港)有限公司 CE AAD284 2 0.0% +10.56% 01253 +13.08% 00153 +8.04%
117 长雄证券有限公司 CE ACM423 2 50.0% +201.67% 01716 +431.67% 08042 -28.33%
118 迈时资本有限公司 CE BNO600 1 0.0% +90.69% 02546 +90.69% 02546 +90.69%
119 未来金融有限公司 CE BOG353 1 100.0% -5.96% 09600 -5.96% 09600 -5.96%
120 东方证券(香港)有限公司 CE AVD362 1 — — — —
121 复星国际证券有限公司 CE AAF432 1 100.0% -0.30% 02696 -0.3% 02696 -0.3%
122 中国光大证券(香港)有限公司 CE AAW536 1 0.0% +117.91% 02655 +117.91% 02655 +117.91%
123 清科资本有限公司 CE BRH906 1 0.0% +137.34% 02656 +137.34% 02656 +137.34%
124 交银国际证券有限公司 CE APJ121 1 100.0% -56.73% 02567 -56.73% 02567 -56.73%
125 国元证券经纪(香港)有限公司 CE AOA594 1 0.0% +193.71% 06658 +193.71% 06658 +193.71%
126 浤博资本有限公司 CE BPB716 1 0.0% +55.77% 01111 +55.77% 01111 +55.77%
127 银丰环球投资有限公司 CE BJB477 1 0.0% +153.84% 03231 +153.84% 03231 +153.84%
128 嘉林资本有限公司 CE BBX925 1 0.0% +91.91% 03626 +91.91% 03626 +91.91%
129 华富建业证券有限公司 CE AAC577 1 — — — —
130 国联证券国际金融有限公司 CE BPX918 1 — — — —
131 天风国际资本市场有限公司 CE BPW736 1 0.0% +86.70% 06980 +86.7% 06980 +86.7%
132 山证国际融资有限公司 CE BIJ642 1 0.0% +0.00% 02520 +0.0% 02520 +0.0%
133 绰耀资本有限公司 CE BJG062 1 0.0% +0.00% 02625 +0.0% 02625 +0.0%
134 艾德资本有限公司 CE BOZ865 1 0.0% +164.00% 02477 +164.0% 02477 +164.0%
135 华升资本有限公司 CE BHR763 1 0.0% +36.36% 02540 +36.36% 02540 +36.36%
136 财通国际融资有限公司 CE BNO823 1 100.0% -13.75% 02530 -13.75% 02530 -13.75%
137 TUS Corporate Finance Limited CE BJL235 1 100.0% -36.31% 03938 -36.31% 03938 -36.31%
138 国联证券国际资本市场有限公司 CE BQU633 1 — — — —
139 巴克莱亚洲有限公司 CE AAC257 1 0.0% +2.56% 02399 +2.56% 02399 +2.56%
140 平安证券有限公司 CE BMC491 1 0.0% +75.82% 06082 +75.82% 06082 +75.82%
141 康证有限公司 CE ABH246 1 0.0% +706.45% 08370 +706.45% 08370 +706.45%
142 方正证券(香港)有限公司 CE BLX755 1 100.0% -37.89% 09958 -37.89% 09958 -37.89%
143 百德能证券有限公司 CE ADD976 1 0.0% +7.07% 02183 +7.07% 02183 +7.07%
144 茂宸环球资本有限公司 CE BLV210 1 100.0% -9.80% 01747 -9.8% 01747 -9.8%
145 荷兰银行香港分行 CE AAI460 1 0.0% +17.39% 00923 +17.39% 00923 +17.39%
146 香江资本有限公司 CE BJH993 1 100.0% -10.67% 02108 -10.67% 02108 -10.67%
147 高诚证券有限公司 CE BAP681 1 0.0% +31.53% 01446 +31.53% 01446 +31.53%
148 EUTO CAPITAL PARTNERS LIMITED CE BFE009 1 100.0% -40.00% 01433 -40.0% 01433 -40.0%
149 UBS AG Hong Kong Branch 1 0.0% +1.53% 09980 +1.53% 09980 +1.53%
150 HSBC Corporate Finance (Hong Kong) Limited 1 100.0% -1.79% 01377 -1.79% 01377 -1.79%
// About this page //

This page ranks Hong Kong IPO sponsors by deal count and historical performance (average first-day return, fall rate, risk-adjusted return), covering 150 sponsors. Data is derived from HKEX listing documents and public first-day market prices.

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