上半年新受理IPO数量超去年全年！投行IPO业务又忙起来了！

Core Viewpoint - The article highlights the significant increase in IPO activities in A-shares during the first half of 2025, driven by the resumption of listing standards for unprofitable companies, particularly benefiting technology innovation enterprises [1]. Group 1: IPO Data Overview - In the first half of 2025, a total of 177 companies were newly accepted for IPO applications across the Shanghai, Shenzhen, and Beijing stock exchanges, surpassing the total number for the entire previous year [1]. - June alone accounted for over 80% of the total IPOs in the first half, with 150 new applications [1]. Group 2: Practical Guide for Companies - The "Domestic IPO Practical Manual (Company Perspective)" consists of 254 pages and 123,000 words, divided into four main sections: preparations before listing, listing norms, key points for corporate restructuring, and other important matters [4]. - The first section includes six chapters that cover essential tasks, participants, listing conditions, and overall processes, as well as how to select intermediary institutions and assess the likelihood of listing [7]. Group 3: Listing Norms and Strategies - The second section introduces a "Five-Step Method" for listing norms, which includes adjustments to equity structure, organizational structure, business process, financial system, and ERP implementation [18][19]. - The article emphasizes the importance of case studies to clarify operational strategies and frameworks for companies preparing for IPO [20]. Group 4: Corporate Restructuring Insights - The third section focuses on corporate restructuring, detailing how to choose restructuring methods, necessary preparations, and how to develop feasible plans [25]. - It provides guidance on selecting benchmark dates for restructuring and explains why certain dates are preferable over others [26]. Group 5: Capital Operations and Department Coordination - The fourth section discusses other capital operations during the IPO process, departmental work arrangements, and highlights six popular IPO industries with representative case studies [31][35]. - It emphasizes the importance of understanding investor engagement, mergers and acquisitions, and equity incentives, along with the roles of various departments in the IPO process [32][33].