行文合理增删的重要性

2025年港交所IPO全球第一
HKEX ranked top globally for IPOs in 2025.

今年港股IPO市场同样表现亮眼，去年上市的数目达到119家，而今年首5个月已达到62家。
Building on this momentum, the Hong Kong IPO market remains exceptionally active, with 62 listings completed in the first five months of this year alone, compared with a total of 119 for last year.

不过，当前一些公司的招股书草稿出现了文字偏浮夸、商业模式介绍不清、美化行业排名等问题，而这些招股书质量问题会严重拖慢IPO审核速度。
Notwithstanding this robust activity, the Listing Division has observed a decline in draft prospectus quality. Common deficiencies include marketing hyperbole, insufficient clarity regarding business models, and unsubstantiated industry positioning — all of which pose significant risks of prolonging the regulatory review process.

港交所上市科会严把质量关，建议发行人和保荐人都应重视申请材料的质量，以免影响上市进度。
The Listing Division will maintain stringent oversight to uphold standards. Issuers and sponsors are strongly advised to ensure the accuracy and professionalism of their application materials to avoid any adverse impact on the listing timeline.