Zhong Guo Jing Ji Wang·2025-11-04 03:03Summary 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 90.123 billion yuan in funds, with Huadian New Energy leading the fundraising efforts [1][2]. Group 1: Listing and Fundraising - A total of 87 companies were listed, including 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 amount raised by these companies was 90.123 billion yuan, with Huadian New Energy raising 18.171 billion yuan, making it the top fundraiser for the period [1]. Group 2: Underwriting and Sponsorship Fees - 33 brokerage firms participated in the underwriting and sponsorship of the newly listed companies, earning a total of 4.459 billion yuan in fees [2][3]. - Guotai Junan Securities ranked first in underwriting fees, earning approximately 588.256 million yuan by sponsoring 9 companies [2][3]. - CITIC Securities and CITIC Jianzhong ranked second and third in underwriting fees, earning approximately 545.043 million yuan and 535.634 million yuan, respectively [3]. Group 3: Detailed Brokerage Performance - The top five brokerages collectively earned 2.264 billion yuan, accounting for 50.77% of the total underwriting fees for the period [5]. - Other notable brokerages included CICC, China Merchants Securities, and Shenwan Hongyuan, which ranked sixth to tenth in underwriting fees, earning between 136.595 million yuan and 231.620 million yuan [5][6].