[Hong Kong Stock 18C Companies' Refinancing Scale Surpasses IPOs] According to a report by Jinse Finance, on July 9, based on Live Report big data statistics, as of July 9, 2026, 23 listed 18C companies on the Hong Kong Stock Exchange have raised a total of HKD 40.214 billion through IPOs, while the total amount of refinancing through post-listing share placements in the sector has reached HKD 44.955 billion, with the refinancing scale overall surpassing the initial fundraising.