Since this year, the growth rate of IPO issuance has slowed down. As of May 26, a total of 136 A-share listed companies had been listed during the year, a decrease of more than 30% compared with the same period last year. In addition, among the IPO projects issued this year, many chose to withdraw voluntarily, and more than 100 projects were forced to be suspended due to factors such as epidemic situation and financial report update. From the perspective of sponsors, there are great differences in the passing rate of their IPO projects. The passing rate of 35 securities companies is 100%, but there are still 12 securities companies with a passing rate of less than 80%, of which 5 securities companies have a passing rate of 0. Several IPO projects voluntarily withdrew More than 100 suspended projects According to wind data, as of May 26, 136 A-share listed companies (excluding board transfer listing and stock exchange absorption and merger) had completed their A-share listing in the year, with a total fund-raising of 272.361 billion yuan. In the same period last year, the figures were 199 and 141.926 billion yuan respectively. Affected by the two mega IPO projects of China Mobile and CNOOC, the raised funds increased by nearly 92% year-on-year, but the number of listed companies decreased by 32% year-on-year. It is worth noting that in the IPO projects issued this year, many companies chose to withdraw voluntarily, and some projects were forced to be suspended due to the epidemic situation, financial report update and other factors. On May 23, according to the announcement on the website of Shenzhen stock exchange for the review of gem issuance and listing, on May 16, wuliangtai submitted to Shenzhen stock exchange the application for withdrawing the application documents for IPO and listing on the gem, and the sponsor Guodu securities also submitted the application for revoking the recommendation for wuliangtai's IPO and listing on the gem. According to relevant regulations, Shenzhen Stock Exchange decided to terminate the examination of its initial public offering and listing on the gem. Another announcement from the Shenzhen Stock Exchange gem issuance and listing review information disclosure website shows that prior to May 13, SIMPA smart and its sponsor, industrial securities, also submitted relevant applications to Shenzhen stock exchange for withdrawal of IPO. In addition, Baima pharmaceutical, force digital, Bama tea, Jifei technology and other enterprises voluntarily withdrew their IPO applications in May. According to the announcement of the exchange, the listing review was finally terminated due to the withdrawal application submitted by the above-mentioned enterprise issuer and the sponsor. According to wind statistics, as of May 26, 67 companies proposed to be listed voluntarily withdrew their IPO applications during the year. Insiders said that the withdrawal of some IPOs was related to the poor operation of the company. For example, in the first quarter of this year, the performance of some enterprises affected by the epidemic did not meet expectations, so they chose to withdraw the materials. In addition, some enterprises have compliance defects, or the proposed listing plate is inconsistent with their own positioning. In addition, the number of proposed IPO companies that have suspended the review has also increased. According to wind data, with the latest announcement date as the statistical standard, as of May 26, there were 105 listed companies whose IPO review status was "suspended", including 4 companies to be listed on the Shanghai Stock Exchange main board, 17 companies to be listed on the science and innovation board, 78 companies to be listed on the gem and 6 companies to be listed on the Beijing stock exchange. The above companies plan to raise a total of 82.213 billion yuan. The announcement also showed that the impact of the epidemic on enterprises and relevant intermediaries, as well as the supplementary submission of financial information, became one of the important reasons for the suspension of the review. On May 10, according to the information disclosure website of Shenzhen stock exchange for gem issuance and listing review, Haojiang intelligence and its sponsor Credit Suisse are actively applying for suspension of the issuance and listing review procedures due to the impact of the epidemic. On May 6, it was announced on the Stock Audit website of the science and Innovation Board of Shanghai stock exchange that Hengpu technology and Fangzheng securities, an intermediary institution, could not complete due diligence and reply to audit inquiries within the specified time limit due to the epidemic, and applied to the exchange for suspension of audit. In addition, some companies to be listed said that the IPO review was suspended due to the financial report data to be updated. For example, on April 13, it was announced on the Stock Audit website of the science and Innovation Board of Shanghai stock exchange that Jinghe electronics needs to supplement the financial information recorded in the application document for issuance and listing because the validity period has expired. In accordance with relevant regulations, the issuance and listing audit of Jinghe Electronics was suspended. This is the second time in this year that Jinghe electronics has been suspended from examination. On March 31, according to the information disclosure website of Shenzhen Stock Exchange on GEM issuance and listing audit, the issuance and listing audit of shengtai'er was suspended by Shenzhen stock exchange because the financial data recorded in the IPO application document had expired and needed to be supplemented. The pass rate of 12 recommendation agencies is less than 80% In the context of the overall slowdown in the pace of IPO issuance, the project passing rate of the recommendation agencies has also been differentiated. According to wind data, as of May 26, 60 lead underwriters have been involved in the projects reviewed by the development and Examination Commission, the Shanghai municipal Party committee or the M & A and reorganization Commission this year, of which 35 brokers, including CITIC Securities, CICC, Haitong Securities and Zhongtai securities, have passed the review with a pass rate of 100%, but 12 have a pass rate of less than 80%, of which 5 institutions have passed the review with a pass rate of 0. From the time of the review meeting, as of May 26, 13 companies to be listed had failed to pass the IPO this year, including 6 companies to be listed on the main board and 7 companies to be listed on the gem, involving a total of 9 lead underwriters, including Zhongtian Guofu, Zhongde securities, Zheshang securities, China Merchants Securities, Western securities, Minsheng securities, Guosen Securities, Guorong securities and Anxin securities; In addition, there are 6 enterprises in the status of suspension of voting. Specifically, among the 35 securities companies whose project approval rate reached 100%, they were ranked according to the total number of companies reviewed. The top securities companies were CITIC Securities, CICC, Haitong Securities, Zhongtai securities, GF Securities and industrial securities. The total number of companies reviewed during the year was 38, 21, 15, 11, 4 and 4 respectively. In addition, Dongguan securities, Changjiang Securities and China Galaxy had 3 sponsor projects in total during the year; There were 2 or less recommended projects by 25 securities companies such as Zhongyuan securities, Tianfeng securities and Hongta securities during the year, but the approval rate of the above securities companies also reached 100%. The number of audit projects of China CITIC construction investment, Huatai Securities, Minsheng securities and China Merchants Securities during the year was 10 or more, and the approval rate reached 90%. In addition, the approval rate of 12 institutions is less than 80%, and the approval rate of IPO projects of 5 securities companies, including Western securities, CAITONG securities, Guorong securities, Huachuang securities and Zhongtian Guofu, is 0. According to wind statistics, among the three failed projects sponsored by Western securities, red star Meiling and Hengmao high tech were rejected, and Tianji thatched cottage suspended voting; Among the four projects sponsored by CAITONG securities, except one to be voted on, the other three failed. The room service and Sikes canceled the audit, and langhong technology suspended the voting; Whether the electric flag shares sponsored by Guorong securities are approved; The review of Bingfeng beverage sponsored by Huachuang securities was also cancelled due to the withdrawal of IPO application; Kyushu Fengshen and Beijing Agricultural University sponsored by Zhongtian Guofu were rejected. (Xinhua News Agency)