2026年首批！蓝箭航天等11家IPO企业被抽中现场检查，半数来自科创板

Core Insights - The China Securities Association released the first batch of IPO companies for on-site inspection in 2026, including 11 firms such as Blue Arrow Aerospace and Frequency Precision Laser, with half of them coming from the Sci-Tech Innovation Board [1][3] Group 1: IPO Companies and Their Status - Among the 11 companies, only three—Yuexin Semiconductor, Luozhou Co., and Frequency Precision Laser—have entered the inquiry stage, while the remaining eight are still in the "accepted" phase [3] - The majority of companies targeting the Sci-Tech Innovation Board are six, including Blue Arrow Aerospace and Frequency Precision Laser, while four companies are aiming for the Growth Enterprise Market (GEM) and only one for the Shanghai Main Board [3] Group 2: Fundraising and Financial Performance - Blue Arrow Aerospace and Yuexin Semiconductor are both seeking to raise 7.5 billion yuan, despite being in a loss position during the reporting period [3][4] - Yuexin Semiconductor reported revenues of approximately 1.545 billion yuan, 1.044 billion yuan, 1.681 billion yuan, and 1.053 billion yuan for the years 2022 to 2025 H1, with corresponding net losses of about 1.043 billion yuan, 1.917 billion yuan, 2.253 billion yuan, and 1.201 billion yuan [4] - Other companies, including Luozhou Co. and Zhongyan Co., are looking to raise between 1 billion and 2 billion yuan, while companies like Lianqi Intelligent and Ruishi Chuangxin aim to raise less than 1 billion yuan [4] Group 3: Regulatory Context - The on-site inspection of IPO companies is a regulatory enforcement measure under the Securities Law, playing a crucial role in the overall IPO supervision process [4] - In 2025, the China Securities Association published three batches of on-site inspection lists, involving a total of 16 IPO companies, with a noticeable decrease in withdrawal rates compared to previous years [4]