Summary of Key Points Core Viewpoint - In the first four months of 2025, a total of 37 new companies were listed on the Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange, raising a total of 24.745 billion yuan [1]. Group 1: Listing Overview - The new listings included 13 companies on the main board, 16 on the ChiNext board, 5 on the Sci-Tech Innovation board, and 3 on the Beijing Stock Exchange [1]. - The listed companies were distributed across 12 provinces, municipalities, and autonomous regions, with Zhejiang province having the highest number of listings at 9 [1]. Group 2: Fundraising by Province - Zhejiang province raised a total of 5.627 billion yuan from its 9 listed companies [1]. - Guangdong province had 7 companies listed, raising a total of 3.812 billion yuan [2]. - Jiangsu province also had 7 companies listed, with a total fundraising of 2.841 billion yuan [2]. - Anhui province had 4 companies listed, raising 2.549 billion yuan [2]. - Hubei and Jiangxi provinces each had 2 companies listed, raising 1.296 billion yuan and 1.000 billion yuan respectively [2]. Group 3: Top Fundraising Companies - The top five companies by fundraising amount were: 1. Tian You Wei: 3.740 billion yuan [3] 2. Kai Fa Ke Ji: 1.169 billion yuan [3] 3. Xing Fu Dian Zi: 1.168 billion yuan [3] 4. Han Shuo Ke Ji: 1.162 billion yuan [3] 5. Heng Xin Sheng Huo: 1.018 billion yuan [3] Group 4: Detailed Company Listings - A detailed list of companies, their listing boards, and fundraising amounts was provided, highlighting significant contributions from various provinces [3][4].