IPO“受理潮”来袭,股民需要担心吗？

Group 1 - In June 2023, the A-share market saw 150 companies' IPOs accepted, a fivefold increase compared to 30 in the same month last year [2] - The total number of IPOs accepted in the first half of 2023 was 177, with June accounting for 85% of this total, indicating a typical seasonal spike rather than an overwhelming influx [2] - The Beijing Stock Exchange led with 115 accepted IPOs, while the Shenzhen and Shanghai Stock Exchanges had 32 and 30 respectively, reflecting a significant increase of 453% year-on-year due to a low base last year [2] Group 2 - The average issuance price-to-earnings (P/E) ratio for new stocks in the first half of 2023 was 18.83 times, a 57% decrease from 43.37 times in the same period of 2022, indicating a more rational pricing environment [3] - The proportion of companies exceeding their fundraising targets (overfunding) dropped from 40.9% last year to 21.6%, with overfunded amounts limited to 1-1.3 times the original plan, largely due to new regulations from the China Securities Regulatory Commission [3] Group 3 - The average online subscription success rate for new stocks fell to 0.0289%, significantly lower than the 2024 average of 0.0497% and the 2022 rate of 0.669%, highlighting a growing challenge for investors [4] - No new stocks have experienced a price drop on their first trading day in 2023, with the average price change on the first day being 226.72%, compared to 136.05% in the same period last year, suggesting a supply-demand imbalance in the IPO market [4] - The current market trend indicates a shift from defending the 3000-point level to targeting 3500, 3600, and even 4000 points, with IPOs contributing positively to the market's healthy cycle [4]