2025年A股融资地图出炉！总规模突破万亿元

Core Insights - The total equity financing scale in A-shares for 2025 is projected to exceed 1 trillion yuan, with the Yangtze River Delta, Pearl River Delta, and Bohai Rim regions leading the way, and both Beijing and Shanghai surpassing 100 billion yuan in financing [1] Financing Overview - The total equity financing across various regions reached 1.08 trillion yuan, with initial public offerings (IPOs) amounting to 131.77 billion yuan, additional financing at 887.73 billion yuan, and convertible bond financing at 63.13 billion yuan. This represents a significant increase compared to 2024, which saw only 290.47 billion yuan in total equity financing [4] - Beijing and Shanghai are the top two regions for equity financing, with totals of 458.51 billion yuan and 172.79 billion yuan, respectively. Guangdong and Jiangsu follow with 98.41 billion yuan and 79.24 billion yuan [4] Regional Highlights - In Beijing, the equity financing scale reached 458.51 billion yuan, with state-owned banks contributing nearly 90% of the incremental capital. Major state-owned banks announced plans to issue stocks to raise core tier-one capital, with a total of 400 billion yuan raised from three banks [4] - Notable IPOs in Beijing include the "first domestic GPU stock" Moer Circuit, which raised 8 billion yuan, and chip giant Cambricon, which raised 3.985 billion yuan through additional financing [5] Policy Impact - Jiangsu, Guangdong, and Zhejiang accounted for nearly 60% of the total IPOs, with 28, 20, and 17 companies respectively. This is attributed to targeted financing policies that support manufacturing and innovation [6] - Jiangsu's new policies focus on supporting manufacturing enterprises, while Guangdong's financing scale is close to 1 trillion yuan, with significant contributions from IPOs and additional financing [6] - Zhejiang has maintained a strong IPO presence for six consecutive years, with a focus on nurturing high-quality enterprises through various support measures [7]