Xin Lang Zheng Quan·2025-07-25 04:39Group 1 - The Sci-Tech Innovation Board (STAR Market) has seen a total of 591 companies listed and raised a total of 927.16 billion yuan in IPO funds, with a total market capitalization exceeding 7 trillion yuan as of July 22, 2025 [1] - The STAR Market has significantly optimized the industry structure of the A-share market and serves as an important platform for tackling key core technologies [1] - Among the 65 securities firms that provided underwriting and sponsorship services, Guotai Junan leads with 112 companies, followed by CITIC Securities with 99 companies [1] Group 2 - The top five securities firms by underwriting amount are Guotai Junan (213.78 billion yuan), CITIC Securities (167.07 billion yuan), CICC (130.25 billion yuan), CITIC Jianzhong (88.01 billion yuan), and Huatai Securities (62.29 billion yuan) [2][4] - Guotai Junan's leading position is attributed to the strong presence of both firms in Shanghai [4] - CITIC Jianzhong has successfully sponsored 64 IPOs in the STAR Market over six years, despite facing reputational damage due to involvement in a fraudulent issuance case [5][7] Group 3 - The fraudulent case involving Zijing Storage, which was sponsored by CITIC Jianzhong, resulted in significant financial discrepancies, including inflated revenues and profits totaling approximately 2.22 billion yuan and 86 million yuan respectively [8][9] - Zijing Storage was found to have engaged in financial misconduct, leading to its delisting and significant penalties for CITIC Jianzhong, including a commitment of approximately 1.275 billion yuan to compensate investors [9] - The reputation of CITIC Jianzhong has been adversely affected, resulting in a B-class rating from the China Securities Association for three consecutive years [9]