China’s AI IPO boom tops $54 billion as Shein lists at $27 billion
Hong Kong’s trading floor hasn’t seen action like this in years, and the buzz has a name: artificial intelligence. Right in the middle of it sits the Shein Hong Kong IPO, a $1.7 billion share sale that ranks among the city’s biggest listings of 2026 — even as the fast-fashion giant’s valuation has been cut to a fraction of what it was worth just a few years ago. The listing lands in the middle of a broader surge that has pushed combined IPO proceeds in Hong Kong and Shanghai past $54 billion this year, fueled largely by chipmakers and robotics firms riding the AI wave.
Key takeaways
- China’s AI-driven IPO boom in Hong Kong and Shanghai has raised more than $54 billion in 2026, up from over $46 billion in 2025.
- Shein’s Hong Kong IPO raised $1.7 billion, valuing the company at around $27 billion — far below its 2022 peak of around $100 billion.
- Memory chipmaker CXMT raised over $8.6 billion on Shanghai’s STAR market, with shares jumping 466% on debut.
- Humanoid robot maker Unitree surged 460% on its first trading day but has since fallen more than 40% from that peak.
- Combined Hong Kong and Shanghai IPO proceeds now account for roughly 21% of global volume, trailing only the Nasdaq’s 55% share.
China’s 2026 AI-Driven IPO Boom Surpasses $54 Billion
Chinese exchanges are having their busiest fundraising year in recent memory, and artificial intelligence is the reason why. According to LSEG data, IPOs and secondary listings on the Hong Kong and Shanghai exchanges raised a combined total of more than $54 billion in 2026, comfortably outpacing the more than $46 billion raised over the same period last year.
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