Mei Ri Jing Ji Xin Wen·2025-11-24 07:52Group 1 - The core viewpoint of the article highlights the ongoing high IPO approval rate in China's A-share market, particularly on the Sci-Tech Innovation Board and the Growth Enterprise Market, with a weekly IPO approval rate exceeding 90% [3][9][13] - Last week, 11 companies were reviewed for IPO, with 10 successfully approved, maintaining a high approval rate [3][9] - The surge in IPO applications, with 90 companies submitting applications last week, is attributed to the expiration of financial data validity and the customary rush by sponsors before the end of June [6][13] Group 2 - Notable companies that passed the IPO review include BeiGene, which aims to raise 20 billion yuan, and Joyy Technology, with significant market presence in the U.S. and Hong Kong [7][9] - The only company that was denied IPO approval last week was Kengfeng Seed Industry, which faced scrutiny due to a nearly 70% decline in net profit from 2018 to 2020 [9][13] - The article also mentions that 10 companies had their IPO reviews suspended, marking the highest number since early April, with specific concerns raised about the technological attributes and internal controls of some companies [14][15] Group 3 - This week, 12 companies are scheduled for IPO review, collectively aiming to raise over 110 billion yuan, with China National Railway Group's subsidiary, Zhongtie Special Cargo, seeking to raise 5 billion yuan [16][18] - The article notes that 259 companies have completed IPOs this year, raising over 238 billion yuan, indicating a robust IPO market [24][26] - The leading underwriter for the year is CITIC Securities, having sponsored 28 companies, reflecting a significant concentration in the underwriting market [26]