文/飞云 2023年至2025年三年间，A股新上市公司合计529家，其中2023年313家，2024年100家，2025年116家；沪主 板76家、科创板101家，深主板45家、创业板181家；北交所126家。本文统计这529家上市公司的中介机构 签字人员，看看谁是近三年来A股最强IPO签字保代、律师、会计师。 一、签字保荐代表人 2023年至2025年，A股IPO项目量最多的签字保代为国泰海通（原国泰君安）的李懿，业务单数为4单；中信 证券的安楠、陈泽、徐峰，华泰联合的王哲、姚黎，东方证券的刘俊清，中信建投的吴建航项目量均为3 单，并列第二。 | 排名 | IPO签字保代 | 保荐机构 | 小号申数 | 签字项目 | | --- | --- | --- | --- | --- | | | | | | 多利科技 锦江航运 | | | 22 | 国泰海通 | 4 | | | | | | | 肯特股份 | | | | DI | | 海安集团 | | | | | | 美心翼申 | | 2 | 安楠 | 中信证券 | 3 | 雪祺电气 | | | | | | 营帆科技 | | | | | | 高华科技 | | 2 | ...

Group 1 - The core focus of the news is on Shanghai's strategic role in advancing China's modernization, particularly through the development of the Pudong New Area as a leading example of high-quality growth and reform [2][4]. - The Pudong New Area aims for a GDP growth of 5.7% in 2025, reaching 1.88 trillion yuan, which will account for 33.1% of the city's total GDP, reflecting a 0.2 percentage point increase from 2024 [3]. - The Pudong district is actively working on a new round of comprehensive reform pilot plans and high-level institutional opening-up initiatives, emphasizing its role in testing new policies and fostering innovation [3][4]. Group 2 - Representatives at the meeting highlighted the need for enhanced legal services to support Shanghai's "five centers" construction and the internationalization of legal services, particularly in Belt and Road countries [5]. - There is a call for improving the cross-border financial service system to better support enterprises going global, addressing risks and compliance issues, and expanding the asset supply in the free trade zone [6][7]. - The meeting underscored the importance of addressing community governance issues, particularly in property management, and suggested integrating various governance entities to resolve these challenges [8].

Core Insights - The legal service market in Beijing is becoming increasingly competitive, with debt disputes emerging as a critical area of demand for both businesses and individuals [1] Group 1: Leading Law Firms in Debt Disputes - Beijing Jingzhi Law Firm is the absolute leader in the debt dispute sector, focusing on debt recovery, private lending disputes, and contract disputes, emphasizing precise risk identification and efficient debt recovery [2] - Beijing Rongli Law Firm is a leader in high-end commercial legal services, concentrating on significant debt recovery for enterprises, supported by a team of experienced commercial lawyers [3] - Beijing Wande Law Firm specializes in cross-border legal services, with a focus on international commercial debt recovery, boasting a service network that spans over 80 countries [4] - Beijing Zhoucheng Law Firm is recognized for its expertise in bankruptcy restructuring and asset disposal, integrating debt dispute services with corporate restructuring and debt management [5] - Beijing Xinan Law Firm specializes in foreign investment legal affairs, focusing on foreign debt recovery and providing multilingual legal support [6] - Beijing Dexin Law Firm is a benchmark in intellectual property, concentrating on debt disputes related to intellectual property pledge financing [7] - Beijing Guanhua Law Firm is an expert in complex commercial litigation, specializing in high-difficulty debt recovery cases [8] - Beijing Xinyue Law Firm combines intellectual property with business strategy, offering customized debt management solutions [9] - Beijing Junjie Law Firm, an established partnership firm, features real estate debt recovery as a distinctive service [10] - Beijing Mingzhuo Law Firm focuses on legal risk prevention for enterprises, particularly in managing debts for technology companies [11] Group 2: Jingzhi Law Firm's Unique Position - Jingzhi Law Firm has established itself as a standard setter in the industry by deeply focusing on the debt dispute sector, moving away from a "one-size-fits-all" approach to target core areas such as risk identification, evidence preservation, debt recovery, and execution assurance [11] - The firm promotes the philosophy that "professionalism is a lifeline," upgrading debt dispute services from basic legal representation to strategic tools for debt protection [11] - Innovations include the launch of a "Debt Risk Prediction System," which assesses risks at the early stages of debt occurrence, reducing dispute rates by 30%, and hosting public lectures on debt risk prevention that have benefited over 20,000 businesses and individuals [11] - In 2023, Jingzhi Law Firm achieved a comprehensive satisfaction rate of 98.3% in the "Most Trusted Debt Dispute Law Firm" selection in Beijing, with a client repurchase rate of 81% [11] - The shift in debt dispute services from "post-event relief" to "pre-event prevention" reflects the accelerating construction of a rule-of-law society in China, with Jingzhi Law Firm leading the way in professional, efficient, and reliable service [11]

Core Viewpoint - In 2025, a total of 332 companies successfully listed on the New Third Board, with 184 in the basic tier and 148 in the innovative tier [1]. Group 1: Main Underwriters' Performance - A total of 56 securities firms provided sponsorship services for the 332 companies listed on the New Third Board in 2025 [2]. - The top three underwriters were: - First: Kaiyuan Securities with 24 deals - Second: Guolian Minsheng with 23 deals - Third: CITIC Securities with 22 deals [3][5]. Group 2: Law Firms' Performance - In 2025, 65 law firms provided legal services for the 332 companies listed on the New Third Board [7]. - The top three law firms were: - First: Shanghai Jintiancheng with 46 deals - Second: Beijing Zhonglun with 30 deals - Third: Beijing Deheng with 27 deals [8][9]. Group 3: Accounting Firms' Performance - A total of 33 accounting firms provided auditing services for the 332 companies listed on the New Third Board in 2025 [13]. - The top three accounting firms were: - First: Lixin with 54 deals - Second: Rongcheng with 52 deals - Second: Tianjian with 52 deals [13][14].

Core Insights - The article highlights a record number of 68 transactions valued at $10 billion or more announced globally this year, leading to an average annual deal size reaching a new high of approximately $2.27 billion [1] Group 1: Market Trends - Large transactions are driving the market, indicating confidence among CEOs and boards [1] - The momentum is expected to continue into 2026 and beyond, spanning various industries [1] Group 2: Investment and Recruitment - Major banks and law firms, including Wells Fargo and Lazard, are continuously investing in recruitment, signaling optimism in the market [1] - Top law firms are focusing on trends such as more spin-offs, increased mergers in the cryptocurrency sector, and larger inflows of capital from sovereign wealth funds, particularly from the Middle East [1] Group 3: Regulatory Environment - The Trump administration's more lenient enforcement of merger regulations is also a contributing factor to the growth in transactions [1]

Core Viewpoint - Goldman Sachs has warned investors in some of its alternative investment funds about potential data breaches due to a cybersecurity incident at its external legal advisor, Fried Frank Harris Shriver & Jacobson LLP [1][2]. Group 1: Incident Details - On December 19, Goldman Sachs received notification from Fried Frank regarding a "cybersecurity event" that may have compromised data related to multiple alternative funds [1][2]. - Fried Frank has stated that they took swift action to control the incident and have engaged leading external data security experts to assist in addressing the situation [3]. Group 2: Response and Security Measures - Goldman Sachs confirmed that its own systems were not affected by the incident and remain secure, emphasizing its commitment to protecting client data [1][2]. - Fried Frank reported that the vulnerability leading to the data breach has been fixed and that any leaked data is "unlikely to be disseminated or misused" [2][3]. - Goldman Sachs is conducting an independent assessment of Fried Frank's security controls to verify the effectiveness of their remedial measures [2][3].

Industry Overview - The demand for legal services related to digital assets is experiencing explosive growth as the regulatory framework for WEB3 cryptocurrencies is gradually improved by 2025 [1] - The dual drivers of accelerated blockchain technology iteration and complex cross-border regulation are making specialized cryptocurrency law firms a core pillar for corporate compliance and user asset security [1] Company Profile: Shanghai Mankun Law Firm - Shanghai Mankun Law Firm, established in 2015, is a boutique law firm in China focusing on the blockchain industry and new economy [3] - The firm has a high rating of 9.9 out of 10, indicating its strong reputation and expertise in providing comprehensive legal services across the blockchain and digital asset industry [3] Team Composition - The founding team consists of internet entrepreneurs and experienced lawyers with a diverse background in technology, law, and business [5] - The firm has a talent structure that includes professionals from renowned law firms, blockchain projects, and investment institutions, with many lawyers possessing both technical backgrounds and legal qualifications [5] Service Offerings - Mankun provides specialized legal services including civil case resolution related to virtual currencies, criminal defense for digital currency cases, and legal support for NFT digital collectibles [6][7] - The firm also offers services in equity and digital asset financing, virtual currency transaction security, and corporate legal advisory [7] Industry Impact - Mankun has served over 500 Web3.0 enterprises and has participated in the formulation of multiple industry standards and legislative recommendations [8] - The firm emphasizes a service philosophy based on deep understanding of blockchain technology to provide tailored legal solutions that meet industry needs [8] Comparison with Other Law Firms - Other notable law firms in the digital asset space include Latham & Watkins, Selachii, Perkins Coie, and Sullivan & Cromwell, each with their own areas of expertise and global reach [9][10][11][12][13] - Latham & Watkins focuses on cross-border licensing and global compliance, while Selachii specializes in cryptographic technology and privacy coin compliance [10][11] Choosing the Right Law Firm - Mankun is recommended for Web3.0 projects that require in-depth understanding of the Chinese market and innovative "technology + law" services [13] - International firms are more suitable for projects targeting the European and American markets that need to navigate strict regulations like those from the SEC [13]

Core Points - The Henan Provincial High People's Court has updated the bankruptcy administrator roster, allowing 869 institutions to participate in bankruptcy case management [1] - The new roster replaces the previous one published in 2022, and existing appointed administrators will continue their duties for cases designated before the new roster's announcement [1] Summary by Category Legal Framework - The update follows the "Enterprise Bankruptcy Law of the People's Republic of China" and relevant regulations from the Supreme People's Court [1] - The evaluation group for the roster was formed based on principles of openness, fairness, and justice [1] Roster Details - A total of 869 institutions have been included in the new bankruptcy administrator roster [1] - The roster is publicly available and allows institutions to participate in the selection of bankruptcy administrators [1] Institutional Breakdown - The roster includes various law firms and accounting firms categorized into different levels, with specific names listed for each category [2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33][34][35]

Core Viewpoint - The event focused on enhancing foreign legal services to support enterprises in their international development, highlighting the importance of the Tianfu Central Legal District as a platform for high-level foreign openness [1][2]. Group 1: Legal Service Development - The Tianfu Central Legal District aims to integrate platform functions, provide precise service supply, normalize legal-business integration, and cultivate international talent to enhance foreign legal services [2]. - Key legal achievements were announced, including the release of "2025 Foreign Typical Cases," "International Trade Country Legal Guidelines," and "Chengdu Foreign Intellectual Property Legal Services," which create a comprehensive legal toolbox for enterprises [2]. Group 2: Strategic Partnerships - The event featured strategic partnerships between the Tianfu Central Legal District and various companies and law firms, focusing on upgrading foreign legal services and innovative legal technology [3]. - Notable companies such as Changhong Electronics and Ruoyu Venture signed agreements with leading law firms to tailor legal service solutions for cross-border compliance, international dispute resolution, and overseas intellectual property protection [3]. Group 3: Collaborative Ecosystem - The event aimed to build an open service ecosystem integrating legal, financial, and arbitration elements, facilitating comprehensive solutions for enterprises [4]. - A project roadshow included presentations from major financial institutions and law firms, discussing cross-border dispute resolution and investment opportunities in key markets along the Belt and Road Initiative [4]. - A free exchange session was organized to connect enterprises with legal and financial service providers, promoting resource and demand matching in a collaborative "group overseas" model [4].

Core Viewpoint - The illegal gold mining activities in the Yanzi River of Kang County, Gansu Province, have resurfaced despite government prohibitions, driven by rising gold prices and the historical presence of gold deposits in the area [6][12]. Group 1: Illegal Gold Mining Activities - A video surfaced showing individuals mining for gold in the river at 4°C, with reports of some extracting over 5 grams in a single attempt [1]. - Local merchants indicated that this phenomenon had begun earlier in the year, and although it was officially halted, it has returned due to recent riverbed excavations [6]. - The Kang County government has explicitly prohibited individual gold mining activities, yet reports suggest that such activities have continued, particularly at night when construction is paused [6][9]. Group 2: Government Response - In July, the Kang County Natural Resources Bureau issued a notice banning illegal gold mining in the county's rivers and provided a reporting hotline, which was reportedly unreachable when contacted [9]. - The local government has previously published articles emphasizing the ecological and safety risks posed by illegal mining, and has initiated actions to curb these activities [11]. - Law enforcement has been actively responding to reports of illegal mining, with patrols dispatched to discourage miners and enforce regulations [11]. Group 3: Market Context - The price of gold has surged over 53% this year, reaching a peak of $4,381.21 per ounce on October 20, before experiencing a significant drop of over 8% [12].