How is it going for those consumer companies that flocked to Hong Kong stocks?
# How are those consumer companies that flocked to Hong Kong stocks now? In the summer of 2025, Hong Kong consumer stocks experienced a long-awaited boom. The stock prices of Old Shop Gold,泡泡玛特, and Mixue Group all reached record highs, with their total market value once exceeding 730 billion Hong Kong dollars. Throughout the year, 18 consumer companies went public, far exceeding previous years. The market once believed that “the consumer sector is back on track.” A year later, the stock prices of these three companies have fallen by 70%, 50%, and 40% respectively from their peak levels. Among the 23 companies that went public over the past year and a half, 13 had their stock prices fall below the issue price, accounting for nearly 60%. Behind this wave of IPOs was five years of exit pressure in the primary market. Many companies did not enter Hong Kong stocks with high expectations; on the contrary, they knew clearly that they would no longer be able to obtain the valuations that the primary market had once offered. But the funds matured, the bet deadlines arrived, and the doors of the A-share market were closed. Hong Kong stocks were one of the few options left. The wave of listings over the past year and a half was the process by which these companies were revalued in the secondary market. When the stories faded, the business itself came to the forefront, and a well-known issue was raised again…