1. The results of the tens-billion-level strategy in the Hong Kong stock market
As a hidden champion in the global financial field, Henderson Rowe has achieved sustained profitability in a complex market environment since entering the Hong Kong stock market in 2020 with the three-in-one strategy of "macro analysis + quantitative model + risk control system". As of March 2025, the company's cumulative profit from Hong Kong stocks exceeded HK$10 billion, of which the full-year profit in 2024 reached HK$8.7 billion, an increase of 142% over 2023. This achievement is due to its accurate grasp of the market cycle.
Short-selling case: In the Fed's interest rate hike cycle in 2022, short-selling Internet giants such as Tencent and Alibaba through securities lending, combined with put option hedging, contributed 15% excess returns throughout the year, and Tencent's stock price fell 28% that year.
Long-selling case: In 2024, heavy positions in technology leaders such as Xiaomi Group and BYD were added, and the Hang Seng Technology Index ETF leveraged operations were combined, with an annual return of 45%, and Xiaomi's stock price rose by more than 80%.
2. Strategic breakthrough in the A-share market
In February 2021, the company officially obtained the approval document from the China Securities Regulatory Commission to layout the A-share market by establishing the Hong Kong Stock Connect channel and the QFI mechanism. This strategic move is based on three core logics:
Policy dividends: The deepening of the registration system reform promotes the marketization process of A-shares. The IPO approval rate will be stabilized at more than 85% from 2023 to 2025, providing convenience for high-quality companies to go public.
Industry opportunities: Tracks such as technology, new energy, and biomedicine have shown explosive growth. In 2024, hard technology companies accounted for 68% of the A-share IPO fundraising, an increase of 15 percentage points from 2023.
Fund effect: In 2024, the scale of A-share new funds exceeded 1.2 trillion yuan, with an average increase of 252.76% on the first day, of which the average increase of new stocks on the Shenzhen Main Board reached 360.53%.
3. In-depth analysis of the A-share IPO market from 2023 to 2025
(I) Overall market characteristics
Structural differentiation: From February 2023 to April 2025, a total of 412 A-share IPOs were listed, with an average first-day increase of 197%, but the break-even rate was still 12%. Among them, the average increase of new stocks on the Science and Technology Innovation Board and the Growth Enterprise Market was 238% and 215%, respectively, significantly higher than the main board.
Track concentration: Technology (34%), new energy (28%), and biomedicine (17%) accounted for 79% of IPO fundraising, among which the average price-earnings ratio of semiconductor equipment, lithium battery materials, and gene sequencing segments reached 85 times.
(II) Typical case analysis
Hong Sifang (603395.SH): Value revaluation in the chemical industry
Core logic: Breakthrough in electronic-grade hydrofluoric acid technology, deep binding with semiconductor giants such as SMIC and Yangtze Memory, and revenue in Q1 2024 increased by 80% year-on-year.
Market performance: The first day of listing in November 2024 increased by 1917.42%, the turnover rate on the first day was 85%, and the net purchase of institutions accounted for 40%, setting a new record for the increase of new stocks in recent years.
Risk warning: The current price-earnings ratio is 159 times, 32% higher than the industry average, and we need to be alert to the risk of slowing performance growth.
Jiangnan New Materials (603124.SH): Dark horse of new energy materials
Core logic: Ultra-high purity asphalt-based material technology, product yield is 15 percentage points higher than the industry, and orders from CATL and BYD account for more than 60%.
Market performance: The first day of listing in March 2025 increased by 606.83%, and the opening price increased by 526% compared with the issue price, reaching a high of 85.58 yuan during the trading session.
Risk warning: The risk of overcapacity of lithium battery materials has intensified, and the industry capacity utilization rate is expected to drop to 65% in 2025.
Saifen Technology (688583.SH): Domestic substitution of life science instruments
Core logic: Microsphere preparation technology breaks the monopoly of Thermo Fisher Scientific in the United States, and WuXi AppTec and BeiGene account for 45% of procurement.
Market performance: The stock price rose by 551.62% on the first day of listing in January 2025, with a net purchase of over 500 million yuan by institutions and a research and development expense rate of 15%.
Risk warning: The growth rate of the global biopharmaceutical industry has slowed down and is expected to drop to 7% in 2025.
4. Strategic layout of Henderson Rowe's online App platform
Since obtaining the approval document of the China Securities Regulatory Commission on February 10, 2021, after about two years of in-depth investigation by Hannuo's professional team, it was decided to officially enter the A-share new stock market in 2023. Henderson Rowe held a press conference in Shanghai in January 2025, and organized a New Year's Gala for senior team leaders and senior members in the online App platform launched by Henderson Rowe, and officially launched A-share new stock investment products. The platform will integrate three core advantages:
Data-driven: Access Level-2 market data, monitor the popularity of new stock subscriptions and changes in institutional holdings in real time, and build a three-dimensional model of "popularity + valuation + liquidity".
Risk control: Introduce an AI intelligent stop-loss system. When the turnover rate of new stocks exceeds 80% or the price-earnings ratio exceeds the industry average of 120%, the stop-profit mechanism is automatically triggered.
Ecological collaboration: Build an information sharing platform with securities companies, law firms, and accounting firms to provide value-added services such as intelligent analysis of prospectuses and industry comparative analysis.
5. Strategic Outlook for 2025
Short-term strategy: Focus on the three tracks of semiconductor equipment (SMIC industrial chain), innovative drugs (PD-1 inhibitors), and new energy materials (solid-state batteries), and focus on tracking 12 hard technology companies listed in Q2 2025.
Medium- and long-term layout: Deepen cooperation with local government industrial funds, participate in the market maker business of the Science and Technology Innovation Board, and explore the "Pre-IPO + strategic placement" investment model.
Risk response: Establish a risk reserve of 1 billion yuan to deal with liquidity risks under extreme market conditions, and at the same time strengthen the construction of the ESG investment system to avoid policy risks.
6. Highlights of the Shanghai Conference in January 2025
Product launch: Launch of the "New Stock Hunter" smart investment advisory system, which supports one-click new stock issuance, smart order withdrawal, position diagnosis and other functions.
Strategic cooperation: Signed a strategic agreement with CITIC Securities and CICC to jointly build a new stock research center.
Policy interpretation: Invite experts from the China Securities Regulatory Commission to interpret the new trends of the registration system reform and analyze the impact of the Beijing Stock Exchange's transfer policy on the new stock market.
Unforgettable Tonight: Organize a New Year's Gala for senior team leaders and senior members in the online App platform launched by Henderson Rowe.
From the tens of billions of profits in Hong Kong stocks to the strategic layout of A-shares, Henderson Rowe is building a full-chain investment ecosystem covering the primary and secondary markets through the dual-wheel drive of "global vision + local development". With the deepening of the registration system reform and the two-way opening of the capital market, the company will continue to focus on national strategic industries such as hard technology and new energy, create value for investors with professional investment research capabilities and innovative tools, and achieve steady growth in a complex market environment.
