Summary of Key Points Core Viewpoint - In January 2026, the A-share market saw a total of 9 new listed companies, a decrease of 25% compared to the same period last year, while the net fundraising amount increased by 33.79% to 8.425 billion yuan [1]. Group 1: IPO Performance - A total of 9 new companies were listed in January 2026, with 3 on the Shanghai Stock Exchange, 1 on the Sci-Tech Innovation Board, and 5 on the Beijing Stock Exchange [1]. - The net fundraising amount for these new listings was 8.425 billion yuan, up from 6.297 billion yuan in the same month last year [1]. Group 2: Underwriter Performance - Eight underwriting institutions handled the IPOs of the 9 new listed companies in January 2026, with CICC ranking first with 2 deals [2]. - Seven other securities firms, including Shenwan Hongyuan, Guotou Securities, Dongwu Securities, Dongxing Securities, CITIC Securities, Guojin Securities, and Guotai Junan, each managed 1 deal [2][3]. Group 3: Law Firm Performance - Six law firms provided legal services for the IPOs, with Shanghai Jintiancheng, Beijing Zhonglun, and Beijing Kangda each handling 2 cases, ranking them jointly first [5]. - Beijing Jindu, Guohao (Shanghai), and Beijing Deheng each managed 1 case [5][6]. Group 4: Accounting Firm Performance - Six accounting firms provided auditing services for the new listings, with Rongcheng leading with 3 cases [7]. - Zhonghui ranked second with 2 cases, while Xinyong Zhonghe, Lixin, Tianjian, and Zhongxinghua each handled 1 case [7][8].

Core Viewpoint - The number of new IPOs in A-shares has increased, with 67 companies listed from January to August 2025, representing a year-on-year growth of 13.56% compared to 59 companies in the same period last year. The total net fundraising amount reached 57.915 billion yuan, a significant increase of 52.48% from 37.981 billion yuan in the previous year [2]. Group 1: Underwriting Institutions Performance Ranking - A total of 26 underwriting institutions participated in the IPOs of the 67 new listed companies, with a total of 68 deals due to dual appointments for one company [3]. - The top three underwriting institutions by number of deals are: - First: Guotai Junan and Huatai United, each with 7 deals - Third: CITIC Securities and Zhongxin Investment, each with 6 deals [4][5]. Group 2: Law Firms Performance Ranking - 25 law firms provided legal services for the 67 new listed companies during the same period [6]. - The top three law firms by number of deals are: - First: Shanghai Jintiancheng with 11 deals - Second: Beijing Zhonglun with 6 deals - Third: Beijing Guofeng, Beijing Deheng, and Guangdong Xinda, each with 4 deals [7]. Group 3: Accounting Firms Performance Ranking - 16 accounting firms provided auditing services for the 67 new listed companies [8]. - The top three accounting firms by number of deals are: - First: Rongcheng with 15 deals - Second: Tianjian with 12 deals - Third: Lixin with 10 deals [9].