Core Points - Zhuzhou Keno New Materials Co., Ltd. has terminated its IPO application after over two years of waiting, marking a significant event in the current IPO landscape [1][3] - A total of 98 companies have withdrawn their IPO applications this year, with the Beijing Stock Exchange having the highest number of withdrawals at 37 [1][4] - The tightening regulatory environment has led to a decrease in the number of IPO terminations compared to the previous year, indicating that companies may be better prepared before applying for listings [5][4] Company Summary - Zhuzhou Keno focuses on the purification technology and industrialization of III-V group chemical elements, primarily dealing with high-purity gallium, indium, bismuth, and tellurium [3] - The company aimed to raise approximately 588 million yuan for projects including a semiconductor high-purity materials production line and an advanced materials research center [3] - Despite its efforts, Zhuzhou Keno's IPO application was not approved after entering the inquiry phase on July 17, 2023, following its acceptance on June 21, 2023 [3][4] Industry Summary - The number of companies withdrawing their IPO applications has reached 98 this year, with a notable decrease from over 400 in the previous year, reflecting improved readiness among applicants [4][5] - The tightening of regulations by the China Securities Regulatory Commission (CSRC) has emphasized accountability for companies during the IPO process, which may contribute to the decline in withdrawals [4] - The trend of companies facing multiple failed IPO attempts suggests underlying issues within these firms that have not been effectively addressed [6][7]

Core Points - Zhuzhou Keno New Materials Co., Ltd. has terminated its IPO application after over two years of waiting, marking a significant event in the current IPO landscape [1][3] - A total of 98 companies have withdrawn their IPO applications this year, with the Beijing Stock Exchange leading in the number of withdrawals [1][5] - The regulatory environment has tightened, leading to a decrease in the number of IPO withdrawals compared to previous years [5][6] Company Summary - Zhuzhou Keno focuses on the development and industrialization of III-V group chemical element purification technology, primarily dealing with high-purity gallium, indium, bismuth, tellurium, and their oxides [3] - The company aimed to raise approximately 588 million yuan for projects including a semiconductor high-purity materials production line and a research center for advanced materials [3] - Despite being accepted for IPO on June 21, 2023, and entering the inquiry phase on July 17, the company did not receive an opportunity for a listing meeting [3][4] Industry Summary - The number of companies withdrawing their IPO applications has reached 98 this year, with 37 from the Beijing Stock Exchange, 31 from the Shanghai and Shenzhen main boards, and 26 from the ChiNext [5] - The tightening of regulations by the China Securities Regulatory Commission (CSRC) has led to a more rigorous screening process, resulting in a significant reduction in IPO withdrawals compared to over 400 last year [5][6] - The trend indicates that companies may be more cautious in their IPO applications, potentially leading to higher quality listings and increased investor confidence in the market [6][8]