Chongqing - On the evening of November 27, Avatr Technology, a Chongqing-based car brand, submitted its listing application to the Hong Kong Stock Exchange, with CITIC Securities and China International Capital Corporation (CICC) as joint sponsors. Avatr plans to use the proceeds for product and technology development, branding, and expansion of its sales and service network.
Avatr's home ground in western China is emerging as a key source of companies heading to Hong Kong. This region, which includes Chongqing and Chengdu, is stepping up from its previous, simpler role as a resource supplier and traditional manufacturer. A growing number of advanced manufacturing and technology-driven companies are expanding beyond onshore funding channels to address rising R&D costs, scale up production, and expand overseas.
This episode of Yang Talks examines Seres’ Hong Kong IPO as a marker of how Western China enterprises are repositioning themselves in global capital markets. Drawing on examples of Chongqing carmakers and Chengdu biopharmaceuticals, we see how Hong Kong’s deep liquidity and institutional investor base can complement the mainland market by offering a clear platform for cross-border partnerships, supply-chain expansion, and brand internationalisation.