Three companies are currently conducting their initial public offerings: ZIJIN GOLD INTL (02259), Shenzhen Hipine Precision Technology (02583), and Pateo Connect Technology (Shanghai) (02889). As of September 24, major brokerages including Futu, Phillip Securities, and Bright Smart Securities have collectively provided margin financing of HK$464.08 billion for ZIJIN GOLD INTL, representing an oversubscription of more than 184 times. For Shenzhen Hipine Precision Technology, the combined margin lending reached HK$58.83 billion, indicating an oversubscription exceeding 1,896 times. Meanwhile, Pateo Connect Technology (Shanghai) received total margin financing of HK$24.52 billion from these brokers, with oversubscription surpassing 228 times.