Core Viewpoint - A total of 72 companies have voluntarily withdrawn their IPO applications in 2023 due to insufficient performance growth, lack of technological innovation, and doubts about the necessity of fundraising [3][4][7] Group 1: IPO Withdrawal Statistics - As of July 11, 2023, 72 companies have withdrawn their IPO applications, a decrease of over 70% year-on-year [3] - The majority of withdrawn applications are from the Beijing Stock Exchange (27 companies) and the ChiNext (20 companies) [4] - The manufacturing sector, particularly specialized equipment manufacturing, software and information technology services, and automotive manufacturing, accounts for most of the withdrawn companies [4][5] Group 2: Reasons for Withdrawal - Key issues leading to IPO withdrawals include performance sustainability, fundraising necessity, technological advancement, and risks associated with actual controllers [3][7][11] - Many companies faced multiple rounds of inquiries from regulatory bodies, indicating a lack of clarity in their responses [5][11] - Specific examples include companies like Feiyu Technology and Nipe Holdings, which experienced significant declines in revenue and profit prior to their withdrawal [7][8] Group 3: Company-Specific Challenges - Feiyu Technology's revenue dropped from 4.29 billion to 3.85 billion, with a projected net profit decline of 95.35% [7] - Nipe Holdings faced a net profit decline in its firefighting and rescue equipment business, prompting regulatory scrutiny [7] - Mingmei New Energy's low R&D expenditure relative to its peers and its limited number of original patents raised concerns about its innovation capabilities [8][9] Group 4: Regulatory and Compliance Issues - Issues related to the actual controller's past illegal activities, such as money laundering, have also hindered IPO processes [11] - Companies like Qizhi Laser faced inquiries regarding the necessity and rationality of their fundraising projects, especially given their existing cash reserves [12]
这72家拟IPO企业为何“撤单” 业绩成长性不足 技术创新性欠佳 募资必要性存疑
Shang Hai Zheng Quan Bao·2025-07-13 19:46