Embodied AI Glossary中文HKEX Chapter 18C
港股 18C 章18CAdvancedA Hong Kong Stock Exchange listing channel for hard-tech companies with little or no revenue yet.
Chapter 18C is the section of the Hong Kong Stock Exchange's Listing Rules covering “specialist technology companies,” effective since late March 2023. It allows companies in fields such as next-generation information technology, advanced hardware and software, advanced materials, new energy, and new food and agricultural technology to list even when revenue is minimal or the company hasn't yet commercialized, in exchange for a higher required market capitalization and participation by sophisticated independent investors. The market-cap thresholds set at launch were HK$6 billion for commercialized companies and HK$10 billion for pre-commercialization companies, reportedly lowered temporarily at times since. Robotics companies and autonomous-driving chipmakers, which burn cash heavily and reach profitability late, often consider this route.
ExampleBlack Sesame Technologies listed on the Hong Kong Stock Exchange under Chapter 18C in August 2024, the second company to list under this rule.
- Also called
- Specialist Technology Companies Listing Regime
- Related
- STAR Market · Pre-IPO Tutoring · First Listed Humanoid Robot Stock · Funding Rounds & Valuation · Backdoor Listing
- Sources
- Black Sesame Technologies - Wikipedia
- As of
- 2024-08