马年IPO首单落地！年内整体过会率超九成

Core Insights - The IPO approval rate has exceeded 90% this year, with 24 companies reviewed and only 2 facing deferred decisions [2][5][7] Group 1: IPO Approval Process - The first company to pass the IPO review in the Year of the Horse is Shenghe Jingwei Semiconductor Co., Ltd., which received approval on February 24 [2][5] - The IPO review process has accelerated, particularly in January and February, which are typically busy months for IPO approvals due to financial reporting deadlines [3][10] - The North Exchange has held 16 listing committee meetings this year, with a notable increase in the number of meetings held weekly [8][10] Group 2: Company Performance and Projections - Shenghe Jingwei's IPO application was accepted in late October 2022, and it aims to raise 4.8 billion yuan, with over 80% of the funds allocated for a 3D multi-chip integration packaging project [5][6] - The company expects its revenue to grow from 1.633 billion yuan in 2022 to 4.705 billion yuan in 2024 [5] - The overall market for IPOs is expected to remain stable, with a focus on technology companies, which have seen increased interest despite some not being profitable yet [11] Group 3: Market Dynamics - The dynamic balance between the primary and secondary markets is anticipated to lead to a further recovery in the IPO market as the number of companies under review decreases [4][10] - The trading volume in the secondary market has remained high, contributing to the recovery of the market's financing functions [10][11] - The current IPO review pace aligns with market expectations, with many companies taking about six months from acceptance to approval [10]