Source: China News Agency
Author: Chen Kangliang
China's A -share IPO (the first public offering of stocks) has cooled down recently. Many companies pressed the IPO to apply for the "withdrawal key", which attracted attention.
On November 28, the Shenzhen Stock Exchange decided to terminate the audit of the IPO of Guangzhou Dikoni Clothing Co., Ltd. and listed on the motherboard, because the company submitted an application for withdrawal IPO to the Shenzhen Stock Exchange.The company has also become the latest company that actively withdraws the IPO.
According to the information disclosed by the Shanghai Stock Exchange on the 27th, Luzhou South Peak Chemical Co., Ltd. terminated the Shanghai Main Board IPO.The Shanghai Stock Exchange stated that because the company and its sponsors withdrew the issuance of listing, they terminated their listing and listing reviews in accordance with relevant regulations.
It is not uncommon for companies to withdraw IPO applications in this way.According to statistics from reporters, since November, 18 companies in Shanghai and Shenzhen have taken the initiative to withdraw from IPO applications.According to media statistics, about 200 companies have terminated IPOs since this year, of which more than 80 % of the companies that have taken the initiative to withdraw their applications.
Zhao Xijun, co -dean of the China Capital Market Research Institute of Renmin University of China, said in an interview with a reporter from the China News Agency that recently, the number of examples to withdraw the IPO application of the listed company have increased significantly.related.
In August this year, the China Securities Regulatory Commission released news that the CSRC fully considers the current market situation, improves the first and secondary market counter -cyclical adjustment mechanisms, and makes related arrangements around the reasonable grasp of IPOs and re -financing rhythms, including according to the recent market, according to the recent marketThe situation, staged the rhythm of the IPO, and promoted the dynamic balance of both ends of investment and financing.
Zhao Xijun said that the IPO has a greater impact on the first and secondary markets. The regulatory level tighten the rhythm of the IPO from the perspective of protecting the overall environment of the market, and at the same time increase the on -site inspection of IPOs, which is conducive to promoting ChinaThe capital market has achieved high -quality development.Under such circumstances, it will inevitably affect the listing of enterprises.However, many of the companies that take the initiative to withdraw from the application are problems with listed materials.
Since the beginning of this year, many companies have announced the withdrawal of IPO applications after the supervision department inspected on -site inspections, such as Jiangsu Wuder Agricultural Machinery Co., Ltd., Shanghai Hengye Micro Crystal Materials Technology Co., Ltd., Fujian Ford Optoelectronics Co., Ltd., Shanghai Sodron Automation Co., Ltd., Zhejiang Cashmere Family Clothing Co., Ltd., etc.
From the perspective of Dong Zhongyun, chief economist of AVIC Securities, China's economy has stabilized this year, but the foundation of economic recovery still needs to be further consolidated.It is also an important reason for many companies to abandon listing.
In addition to the increase in the number of companies applying for applications, the IPO cooling of A -share IPOs is also reflected in the decrease in IPO fundraising and queuing companies.According to the statistics of Guotai Junan Securities, as of November 10, A -shares issued a total of 286 new shares in 2023, with a fundraising amount of about 336.735 billion yuan (RMB, Same as S $ 64.2 billion).400 billion yuan, a year -on -year decrease of 30 % to 40 %.According to media statistics, in the past three years, the number of A -share IPO queue companies has been around 900, and the number of IPO queue companies has fallen to about 700 this year, which is a new low in the past four years.
Tan Gefei, chief consulting expert of Shenzhen Elephant Investment Consulting Co., Ltd., said that although many companies are actively preparing to apply for science and technology boards or GEM, it is expected that the overall number of queues will be in the next year.Continue to decrease.
It is worth noting that in the global IPO market this year, A shares are still dazzling.According to the report released by Ernst & Young a few days ago, mainland China is still an important area of the global IPO event. As of November 17, the forecast data of A shares still account for more than 40 % of the global fund raising throughout the year.The Shanghai Stock Exchange and the Shenzhen Stock Exchange are ranked among the top two of the Global Stock Exchange's IPO funds.
Dong Zhongyun believes that the slow pace of IPO issuance of the A -share IPO can promote the dynamic balance of investment and financing and repair investor confidence; on the other hand, it can guide the flow of resources to the high -tech industry that meets the national strategy and has core competitiveness, optimize the industry to optimize the industrystructure.
Looking forward to the future, He Zhaoyu, the supervisor of the listing service in the Ernst & Young Da China District, said that the economic environment and capital market performance in 2024 will continue to affect the issuance rhythm of the Chinese A -share IPO. It is expected that the IPO will still be tightened at a certain stage.Policy support may tilt towards the "hard technology" that conforms to the national strategy, and the industry's agglomeration effect will be increased.At the same time, the regulatory level will continue to maintain strict, transparent, and prudent launch supervision, and continuously improve the quality of IPO enterprises.
