Even Alibaba Group (NYSE:BABA), a tech giant with secondary listing status in Hong Kong, plans to switch to a dual primary listing in Hong Kong and New York by the end of this year, aiming to stay in the Hong Kong marketplace if its shares are ousted from the U.S. stock market. In the preliminary prospectus, Kanzhun is upfront about the potential for a forced delisting over the next two years under the "Holding Foreign Companies Accountable Act", if the Public Company Accounting Oversight Board (PCAOB), the auditing arm of the U.S. securities regulatory body, is unable to make full inspections of China-based auditors, or if proposed changes to the law are enacted. The clock is clearly ticking. A dual primary listing in Hong Kong is a pressing task for Kanzhun, but the IPO journey can be time-consuming, with candidates needing to meet a set of requirements covering profitability, revenue and market capitalization.