[UBS: Hong Kong IPO Market Expected to Exceed 300 Billion Yuan Next Year, Leading Globally] Li Zhenguo, Vice Chairman of UBS Global Investment Banking, stated that Chapter 18C of the Hong Kong Stock Exchange provides a new listing channel for technology companies. It is expected that 150 to 200 companies will go public in Hong Kong next year, with a total IPO scale estimated to reach 300 billion yuan, ranking first globally. He also believes that consumer goods, high technology, and artificial intelligence will remain key themes next year. Continued interest rate cuts will remain a focal point for the market, while the stabilization of domestic consumption will also benefit market development. Additionally, the overall valuation of Greater China stocks is at a discount compared to U.S. stocks, making them attractive.