Core Viewpoint - The article discusses the significant increase in IPO applications at the Beijing Stock Exchange (BSE), leading to a potential backlog in the approval process, while highlighting the slower pace of IPO approvals and the improved quality of companies applying for listings [2][10][12]. Group 1: IPO Application Trends - As of July 27, 2023, there are 305 companies in the IPO review process across A-shares, with 183 of them (60%) at the BSE [2]. - In June 2023 alone, the BSE received 97 IPO applications, setting a new monthly record, surpassing the previous record of 92 applications in June 2022 [2]. - Despite the high number of applications, only 6 companies have successfully listed on the BSE this year, compared to 14 on the Shanghai Main Board and 22 on the ChiNext [2]. Group 2: Approval Process and Timelines - The average waiting time for IPO approvals at the BSE has increased, with median times from application to listing rising from 218 days in 2022 to 306 days in 2024 [4]. - For the 115 IPO applications received in 2025, the average time from application to first inquiry is 26 days, longer than the 15 days for the ChiNext and 21 days for the Sci-Tech Innovation Board [5]. - The longest waiting time for a company currently in the review process is over three and a half years for Yangde Environmental Energy, which has faced additional scrutiny due to investigations into its controlling shareholder [7][8]. Group 3: Company Quality Improvement - The quality of companies applying for IPOs at the BSE has improved, with 113 companies currently under review having an average revenue of 738 million yuan and an average net profit of 95.06 million yuan [11]. - 36 companies, or 31.86%, have reported net profits exceeding 100 million yuan, indicating a trend towards higher-quality applicants [11]. - The increase in company quality is attributed to better performance of new three-board companies and enhanced support from investment banks in selecting and preparing companies for listing [12].

Group 1 - The core viewpoint of the articles revolves around the recent developments in CCER (China Certified Emission Reduction) methodologies, highlighting the need for expansion and adaptation to promote low-carbon projects and enhance market supply [1][3][4] - The Ministry of Ecology and Environment has publicly solicited suggestions for new CCER methodologies, indicating a proactive approach to broaden the scope of emission reduction projects [1][2] - The current CCER price remains high, with a trading average of 100.10 yuan per ton, driven by supply-demand imbalances and increased market participation from diverse stakeholders [2][3] Group 2 - There is a consensus among industry experts that the carbon quota prices and CCER prices are expected to rise steadily in the future, with CCER supply anticipated to increase in an orderly manner [3][4] - The new CCER methodologies are expected to enrich the voluntary carbon market and increase the market supply of CCERs, focusing on sectors with emission reduction potential such as distributed energy, storage, transportation, and construction [3][5] - The application for CCER methodologies is restricted to certain industries, excluding those with mandatory emission reduction obligations, which may limit participation from some sectors [3][5][6] Group 3 - The development of new CCER methodologies is seen as a potential source of commercial opportunities, particularly for projects that meet additionality requirements and align with national industrial policies [4][5] - Experts suggest that companies should ensure safety, conduct additionality assessments, and consider international best practices when developing CCER methodologies [7][8] - The complexity of technical validation for methodologies may pose challenges, and companies are encouraged to seek guidance from experienced institutions or experts to navigate these difficulties [8]