At least two dozen Chinese companies have confidentially filed for Hong Kong listings this year under new rules allowing private applications for certain biotech and technology firms, Reuters reported Tuesday, citing two industry sources.

According to the report, the confidential filing mechanism, introduced in May, enables early-stage applicants to withhold business plans and financials during regulatory review.

Recent applicants include autonomous driving firm Zelos Tech and AI startup MiniMax, while US-listed robotaxi operators Pony AI and WeRide have also privately filed for second listings, the report said.

Fast-fashion retailer Shein lodged a confidential Hong Kong IPO application last month in the most high-profile case to date, Reuters added.

Hong Kong Exchanges and Clearing (HKG:0388) said more than 190 listing applications are currently in the pipeline, with about 45% in technology and 20% in healthcare, according to Reuters.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)