An independent consulting firm commissioned by the issuer to prepare an industry report. The prospectus has an 'Industry overview' section that usually draws on its report for market size, growth trends and competitive landscape. 'Industry advisor' is not a term defined in the Listing Rules, and the commissioning relationship is as disclosed in the prospectus. Basis: the standard listing document sections listed in HKEX Guide for New Listing Applicants, Chapter 6.4.
The links above lead to official sources such as HKEX and the SFC. The explanation on this site summarises them and may differ from the official definition; the official documents prevail.
This page explains the HK IPO term "Industry Advisor" and links to related terms. Definitions are compiled from HKEX Practice Note 18 and the Listing Rules, for understanding subscription rules only — not investment advice.
