Eight China firms pass Hong Kong listing hearings in biotech-led boom

In April, eight companies from mainland China passed their listing hearings for the Hong Kong stock exchange, with five of them focusing on biotech. At the forefront is Metis TechBio, an AI-based drug developer. Other participants include firms working in autonomous driving and industrial robotics. Founded in 2020 in Hangzhou, Zhejiang province, Metis operates in both China and the U.S., utilizing three distinct AI platforms to improve drug delivery. Last year, their revenue surged to 105 million yuan (around US$15.4 million), up from just 1.48 million yuan, and their net loss shrank from 499.2 million yuan to 391.8 million yuan. Their main drug, MTS-004, has completed phase three trials, and they are also working on three other candidates. In Q1 2026, the average daily turnover on the Hong Kong stock exchange hit HK$276.7 billion (US$35.3 billion), reflecting a 14% rise from the previous year, according to HKEX.