又一券商IPO终止，公司回应

Group 1 - The core point of the article is that Kaiyuan Securities has withdrawn its IPO application, marking the second securities company to do so since last year [1][3] - The withdrawal was initiated by the sponsor, Minsheng Securities, but the specific reasons for the withdrawal were not disclosed [3] - Kaiyuan Securities has been in the IPO queue for nearly three years, having transitioned from the New Third Board to A-shares in 2022, and has not yet responded to the first round of inquiries from the Shenzhen Stock Exchange [3] Group 2 - Kaiyuan Securities, known as the "King of the New Third Board," has been a leader in the New Third Board business, with 723 companies under continuous supervision, accounting for 11.77% of the total listed companies [4] - The company aims to become a top-tier securities firm focused on the Beijing Stock Exchange, with a strong emphasis on investment banking, bond underwriting, asset management, and research [4] - The company's net profit has shown steady growth from 515 million yuan in 2021 to 687 million yuan in 2024, although its bond underwriting business has been suspended for six months starting October 2024 due to regulatory issues [5] Group 3 - The suspension of the bond underwriting business is expected to negatively impact the company's operating performance in 2024 and 2025 [5] - In 2024, the investment banking revenue for Kaiyuan Securities was 464 million yuan, a decrease of 45.89% year-on-year, representing the lowest proportion of total revenue at 16.23% since 2019 [5]