Zhong Guo Jing Ji Wang·2025-11-03 23:19Summary of Key Points Core Viewpoint - In the first ten months of 2025, a total of 87 companies were listed on the Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange, raising a total of 901.23 billion yuan in funds, indicating a robust capital market activity in China [1]. Group 1: Listing and Fundraising - A total of 87 companies were listed, with 29 on the main board, 29 on the ChiNext, 11 on the Sci-Tech Innovation Board, and 18 on the Beijing Stock Exchange [1]. - The total fundraising amount reached 901.23 billion yuan, with Huadian New Energy leading at 181.71 billion yuan [1]. - Other notable fundraisers included Xi'an Yicai and Zhongce Rubber, raising 46.36 billion yuan and 40.66 billion yuan respectively [1]. Group 2: Underwriting and Sponsorship Fees - 33 securities firms participated in the underwriting and sponsorship of the newly listed companies, earning a total of 44.59 billion yuan in fees [1]. - Guotai Junan ranked first in underwriting fees, earning 58.83 million yuan from sponsoring nine companies [1]. - CITIC Securities and CITIC Jianzhong followed in the ranking, earning 54.50 million yuan and 53.56 million yuan respectively [2]. Group 3: Detailed Underwriting Contributions - Guotai Junan sponsored nine companies, including Changjiang Nengke and United Power [1]. - CITIC Securities sponsored seven companies, including Xi'an Yicai and Ruili Kemi [2]. - CITIC Jianzhong sponsored seven companies, including Daosheng Tianhe and Zhongce Rubber [2]. Group 4: Overall Market Performance - The top five securities firms accounted for 50.77% of the total underwriting fees, amounting to 22.64 billion yuan [4]. - Other firms in the top ten included CICC, China Merchants Securities, and Shenwan Hongyuan, with fees ranging from 13.66 million yuan to 23.16 million yuan [4].