Core Insights - The recent withdrawal of IPO applications by two companies has raised concerns about the overall health of companies in the IPO pipeline [1][2] - A total of 72 companies have terminated their IPO applications this year, with over 40% of these originally planning to list on the Shenzhen Stock Exchange [1][3] Group 1: Company-Specific Withdrawals - Zhongchuan Shuangrui (Luoyang) Special Equipment Co., Ltd. withdrew its IPO application after being in the review process for 8 months, originally aiming to raise 654 million yuan [2] - Guangdong Shunde Rural Commercial Bank has been in the IPO queue for 6 years, facing numerous regulatory hurdles and ultimately choosing to withdraw its application [2][3] Group 2: General Trends in IPO Withdrawals - Among the 72 companies that have withdrawn their IPO applications this year, 29 were from the Shenzhen Stock Exchange, 16 from the Shanghai Stock Exchange, and 27 from the Beijing Stock Exchange [3] - Four companies have been in the IPO queue for over 5 years, indicating a significant backlog in the IPO process [3] Group 3: Regulatory and Compliance Issues - Companies that have faced prolonged delays in their IPO processes may be experiencing underlying issues, including regulatory scrutiny and compliance failures [6][7] - The trend of companies withdrawing their IPO applications after being subjected to on-site inspections suggests a growing concern over compliance and governance standards [6][7]