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In the context of a Hong Kong IPO, financial printing is often mistaken as a purely operational step at the end of the listing process. In reality, it plays a far more strategic role throughout the IPO lifecycle. From the accuracy of the prospectus and regulatory disclosure compliance to the coordination of critical timelines, information security, and even the company’s first impression on investors—a skilled and responsive financial printing provider can have a direct impact on the success of the offering. Following our previous article on why financial printing is critical to a successful Hong Kong IPO, in this blog article we will take a deeper look at: When to engage a financial printer What the selection process typically involves Which criteria to evaluate And what sets a top-tier provider apart in real-world execution Beyond Printing: The Strategic Role of Financial Printing in IPOs A financial printing provider is not just responsible for formatting, translating, and finalizing the prospectus—it is a critical partner in the final mile of the information disclosure process. An experienced financial printer should be able to help issuers achieve the following: Ensure the accuracy and regulatory compliance of the prospectus Meet critical filing deadlines aligned with HKEX and SFC review schedules Support synchronized bilingual version management with fast-turnaround revisions Enhance the professional presentation of offering documents, strengthening corporate image in the capital markets In this context, financial printing should not be viewed as merely a “technical or compliance vendor.” Instead, it should be recognized as an integral member of the IPO project team, working alongside legal counsel and investment banks to manage time-critical deliverables. When Should You Engage a Financial Printer? It is recommended to engage a financial printing partner 4 to 6 months before the initiation of an IPO or public listing project, particularly at the following key milestones: Before the prospectus structure is finalized with legal and banking advisors, to align translation strategy, content sequencing, and document delivery timelines Before the listing application (Form A1) is submitted to HKEX, to ensure sufficient time for drafting, formatting, and bilingual proofreading of the first submission When finalizing the investor roadshow timeline, to coordinate scheduling for print production and digital version distribution Early engagement helps reduce the risk of version control issues, deadline pressure, and rushed deliveries during the critical pre-listing phase. Typical Process for Selecting a Financial Printing Provider In a Hong Kong IPO, the process of selecting a financial printer typically follows these steps: Shortlisting of candidates: Usually initiated by the lead bank or legal counsel, who will recommend 2–3 experienced providers Needs assessment and capability presentation: Each provider presents its service model, confidentiality safeguards, and capabilities in typesetting, translation, VDR setup, collaboration platforms, and subject-matter expertise Document testing and template evaluation: Providers are asked to submit sample bilingual pages (e.g., from a prospectus or industry section) for quality and formatting comparison Proposal review: Evaluation of pricing, value-added services, project management commitments, and turnaround times Final decision and engagement: A provider will be selected. The engagement will be confirmed through the formal signing of the contract and service agreement, which will outline the detailed scope of services and include confidentiality agreements. Key Criteria for Evaluating a Financial Printing Partner A professional and dependable financial printing provider should demonstrate strength across the following dimensions: Market experience: Proven track record with Hong Kong IPOs, secondary listings, red-chip listings, and international offerings Document management capabilities: Robust version control, multi-round collaboration workflows, and responsive execution Translation and review quality: Strong bilingual (English/Chinese) proofreading, with expertise in financial, legal, and industry-specific terminology—including simplified/traditional Chinese localization Technology and platform support: Availability of virtual data rooms, e-roadshow tools, and secure document workflow systems Client service responsiveness: 24/7/365 availability, supported by an experienced in-house project team in Hong Kong Regulatory compliance knowledge: Familiarity with the latest HKEX rules for paperless listings, digital disclosure, and filing formats These capabilities are essential to ensure that all IPO documents are delivered accurately, efficiently, securely, and in full compliance with regulatory requirements. What Sets a Top-Tier Financial Printing Provider Apart? Technology, expertise, and agility. Truly exceptional financial printing providers distinguish themselves through a combination of integrated technology, subject-matter expertise, and execution speed. Hallmarks of a top-tier partner include: Fully integrated digital platforms: Offering collaborative editing, bilingual translation, smart proofreading, and end-to-end support for digital IPO workflows—aligned with HKEX’s paperless listing reforms Standardized service processes: Predefined templates and workflows tailored to each IPO stage to ensure efficiency and consistency Specialized team structure: Experts, project managers, engineers, and translators with cross-border capital markets experience Strong adaptability: Rapid response to last-minute changes and feedback, compressed regulatory windows, and unexpected schedule changes Proven track record and client trust: Extensive experience supporting industry-leading clients on high-complexity, risk-sensitive IPO projects. DFIN’s Hong Kong office is located on the entire 20th floor of Wheelock House at 20 Pedder Street, situated in the heart of Central, Hong Kong’s core financial district. The space is designed to accommodate multiple project teams simultaneously, supporting a wide range of capital markets transactions and compliance projects. Why Choose DFIN? Recognized as a global leader in financial printing and capital markets disclosure solutions, Donnelley Financial Solutions (DFIN) has consistently demonstrated deep expertise and exceptional delivery record in Hong Kong IPO transactions. Proven Execution Across Landmark Deals DFIN has supported the Hong Kong IPOs and secondary listings of numerous prominent Chinese companies, including JD.com, Bilibili, Baidu, XPeng Motors, Trip.com, New Oriental, SenseTime, Tianqi Lithium, and ZJLD Group. DFIN has served as the exclusive financial printing partner for the world’s 10 largest IPOs, and has been entrusted with 8 out of the top 10 Hong Kong IPOs (by market capitalization as of December 2024). These milestones underscore DFIN’s ability to deliver reliably at scale—earning the trust of leading issuers and advisors across complex, high-stakes transactions. One Platform. Full Support. Locally Delivered. DFIN Venue® Virtual Data Room: A secure, widely accepted data room platform for real-time document sharing, editing, and review Global-local execution teams: Integrated teams across Mainland China and Hong Kong provide 24/7 support, ensuring seamless coverage across time zones On-the-ground support: Full-service project offices located in the heart of Hong Kong, Shanghai, and Beijing Unified IPO document workflow: End-to-end collaboration from initial drafting and formatting to bilingual translation and regulatory finalization Multilingual expertise with regulatory precision: In-house teams familiar with industry terminologies commonly used in financial, legal, technology, energy, AI, and consumer sectors—across both English and Chinese Built for Flexibility. Ready for the Future. Beyond meeting today’s demands for document drafting, printing and delivery, DFIN actively helps clients prepare for what’s next. The firm is at the forefront of digital transformation in IPO execution, offering future-ready solutions for paperless disclosure, electronic prospectuses, and virtual roadshows—all while maintaining the highest standards of compliance, security, and speed. DFIN has supported 8 of the top 10 Hong Kong IPOs (based on market capitalization as of December 2024), demonstrating our proven ability to deliver on large-scale, high-profile transactions—and the trust placed in us by leading issuers. Shown above: Listing ceremony of DFIN client Xiaomi Corporation (1810.HK) on the Main Board of the Hong Kong Stock Exchange. Click here to view other case studies Conclusion In today’s increasingly competitive capital markets, disclosure has evolved beyond mere regulatory compliance; it now stands as the foremost and most visible reflection of a company’s professionalism and investment potential. Choosing the right financial printing partner means entrusting your IPO’s disclosure process, information security, and risk management to a proven expert. To learn more about selecting the right partner for your Hong Kong listing, please contact DFIN for a customized consultation, or visit our HK IPO Solutions Page for more details. Contact Us

In Hong Kong’s capital markets, an IPO is a highly regulated and disclosure-driven undertaking. While investment banks, legal advisors, and auditors are central to the process, financial printing providers also play a vital role in the IPO ecosystem. Their expertise and reliability are essential to ensuring the accuracy, compliance, and timely delivery of critical listing documents. As the Hong Kong Stock Exchange (HKEX) continues its transition toward a fully paperless listing environment, the role of financial printers is expanding. No longer limited to production and formatting, they are increasingly seen as strategic partners—supporting issuers in meeting regulatory requirements and navigating the complex landscape of digital information disclosure. This article examines the strategic importance of financial printing in Hong Kong IPOs and offers a practical guide to selecting the right partner—particularly in the context of HKEX’s digital reforms introduced from 2023 onward. What Is Financial Printing and Why Is It Essential in an IPO? Financial printing encompasses a range of specialized services that support the preparation and dissemination of key documents required for an IPO or other capital markets transactions. These services include formatting, proofreading, translation, content review, printing, and distribution. Typical documents handled include the prospectus, financial statements, legal disclosures, and regulatory filings. In a Hong Kong IPO, all these materials must strictly adhere to the regulatory frameworks set out by the Hong Kong Stock Exchange (HKEX) and the Securities and Futures Commission (SFC). Beyond regulatory compliance, these documents are also instrumental in shaping investor confidence and influencing market perception. Thus, financial printing is far more than a backend production task—it plays a central role in ensuring compliance, transparency, risk management, and corporate communications throughout the IPO journey. The Evolving Role of Financial Printing in Hong Kong’s Paperless IPO Transition A typical IPO in Hong Kong involves several rounds of documentation, regulatory feedback, and frequent revisions. Financial printing providers are expected to offer comprehensive support across the entire document lifecycle, including: Bilingual typesetting and alignment checks: Ensuring consistency in language, terminology, and structure across English and Chinese versions Accurate translation and expert review: With a focus on legal, industry-specific, and financial terminology, as well as risk disclosure content Version control and document synchronization: Maintaining accuracy and alignment through multiple iterations under tight deadlines Filing and delivery: Managing both digital submissions and physical document production to meet operational and compliance requirements With the HKEX rolling out its expanded paperless listing regime in late 2023, and full implementation expected by the end of 2025, the role of financial printing has grown significantly. Providers must now support end-to-end digital workflows aligned with new listing rules and market practices, including: Transitioning from physical to fully electronic document submissions Facilitating digital distribution of corporate communications Supporting online shareholder voting and subscription processes In this new era, financial printing providers are expected to offer not just printing expertise, but also robust technology platforms, document collaboration tools, and deep compliance knowledge. These capabilities are essential to helping issuers navigate the increasingly digital and regulation-intensive IPO environment. Key Risks Associated with Selecting an Inadequate Financial Printing Provider While financial printers are not typically involved in strategic IPO decision-making, working with an inexperienced or underqualified provider can lead to serious executional missteps that jeopardize the entire listing process. Common risks include: Inaccurate translations that result in inconsistencies across key documents, especially where technical or legal terminology is not properly localized—this can delay regulatory review and disrupt the overall project timeline. Poor version control, leading to discrepancies between submitted drafts and regulator feedback. Unreliable electronic delivery systems, risking missed disclosure deadlines and non-compliance with time-sensitive filings. Failure to meet HKEX’s latest requirements for paperless submission workflows and digital compliance. Limited scope of services, making it difficult to respond to real-time demands during global roadshows or dual listings. Inconsistent formatting, inaccurate translations, and lack of document synchronization can cause anything from minor delays in approval to significant setbacks in pricing strategy, investor confidence, and ultimately the success of the IPO. How Financial Printing Can Directly Influence IPO Outcomes Amid increasing expectations around transparency and professionalism in IPO disclosures—especially under Hong Kong’s evolving paperless listing regime—financial printers now serve as key enablers of high-quality market communication. A professional financial printing partner not only enhances the overall quality of information disclosure, but also enables issuers to: Respond efficiently to regulatory feedback and collaborate seamlessly with legal, banking, and advisory teams—ultimately accelerating the IPO timeline. Ensure consistency and accuracy across all versions of the prospectus and related documents. Strengthen the company’s professional image in the capital markets through polished and compliant documentation, thereby building investor confidence. Provide fully integrated support for cross-border listings, covering language localization, formatting standards, and delivery protocols. Comply fully with evolving digital requirements, including electronic disclosure, shareholder voting, and payment mechanisms. In this context, the quality and efficiency of financial printing services have a direct impact on both the execution of the IPO and how it is received by the market. How to Select the Right Financial Printing Partner Given today’s evolving regulatory landscape in Hong Kong, choosing the right financial printing partner requires careful evaluation across several critical dimensions: Local expertise: Does the provider have an experienced, on-the-ground team in Hong Kong? Can they offer on-site support when needed? Global reach: Can the provider support multi-region teams and respond to urgent, cross-border project needs in real time? Round-the-clock responsiveness: Are they able to provide 24/7/365 support in line with the demanding pace of an IPO timeline? Jurisdictional flexibility: Can they adapt quickly and effectively if the IPO venue changes or expands to include secondary markets? Multilingual and versioning capabilities: Do they offer in-house legal and financial translation teams with strong document control systems? Technology infrastructure: Do they provide tools such as collaborative e-prospectus platforms and secure virtual data rooms (VDRs)? Track record of success: Have they supported IPOs of multinational corporations, tech unicorns, or financial institutions listing in Hong Kong? These criteria together determine whether a financial printer is well equipped to support a high-standard, high-efficiency, and high-reliability IPO execution. DFIN’s Hong Kong office is located on the entire 20th floor of Wheelock House at 20 Pedder Street, situated in the heart of Central, Hong Kong’s core financial district. The space is designed to accommodate multiple project teams simultaneously, supporting a wide range of capital markets transactions and compliance projects. Why Choose DFIN? As a global leader in fintech and capital markets solutions, Donnelley Financial Solutions (DFIN) offers a distinct set of advantages in financial printing and IPO support services: Extensive industry experience: DFIN served as the exclusive financial printing provider for all of the world’s 10 largest IPOs, and has successfully supported 8 out of the top 10 IPOs in Hong Kong. Backed by experience across hundreds of public offerings worldwide, DFIN not only understands the intricacies of HKEX regulations, but also ensures full alignment with global capital markets standards. Technology-enabled service delivery: DFIN provides a fully integrated platform for IPO document collaboration, multilingual translation, and virtual data room (VDR) solutions. Local expertise, global reach: The Hong Kong-based team works closely with global resources to deliver 24/7/365 client support across time zones and project demands. Agile execution capabilities: DFIN is equipped to handle high-volume document revisions, parallel workflows, and multi-party collaboration across multiple time zones. Broad industry coverage: DFIN serves leading companies across sectors including technology, artificial intelligence, financial services, life sciences, consumer goods, infrastructure, and real estate. With DFIN as your partner, you gain a one-stop solution from prospectus preparation to digital market delivery—ensuring a smooth, precise, and controlled IPO process. DFIN has supported 8 out of the top 10 Hong Kong IPOs (based on market capitalization as of December 2024), demonstrating our proven ability to deliver on large-scale, high-profile transactions—and the trust placed in us by leading issuers. Shown above: Listing ceremony of DFIN client JD.com (9618.HK) on the Main Board of the Hong Kong Stock Exchange. Click here to view other case studies Conclusion Financial printing is far more than a back-office function—it is a critical bridge between information disclosure, regulatory compliance, investor communication, and capital markets execution. In Hong Kong’s highly regulated and increasingly competitive IPO landscape, selecting the right financial printing partner—one with proven experience, integrated technology, and global support—can be the difference between a delayed offering and a successful market debut. To learn more about DFIN’s financial printing services, IPO document management capabilities, or virtual data room offerings, please visit our HK IPO Solutions Page or contact our experts for a customized consultation. Contact Us