登录新浪财经APP 搜索【信披】查看更多考评等级 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 2019年7月22日，定位"硬科技"的科创板正式开市，也标志着注册制试点落地。截至2025年7月22日，科创板累计有591家公司上市（含已退市两家），IPO募 集资金合计9271.56亿元，总市值超过7万亿元。科创板显著优化了A股市场行业结构，成为关键核心技术攻关新型举国体制的重要平台。 | 24 | 东莞证券 | 42.64 | 5 | | --- | --- | --- | --- | | ટર | 浙商证券 | 40.30 | 7 | | 26 | 中国银河 | 36.96 | ଚ | | 27 | 方正证券 | 36.68 | ട | | 28 | 中航证券 | 34.29 | ব | | 29 | 天风证券 | 33.32 | ব | | 30 | 摩根士丹利证券 | 30.99 | 5 | | 31 | 南京证券 | 27.11 | 3 | | 32 | 瑞银证券 | 26.54 | 3 | | 33 | 华安证券 | 25.74 | ব | | 34 | 申港证券 | 24 ...

Core Insights - The Sci-Tech Innovation Board (STAR Market) has significantly optimized the industry structure of the A-share market since its launch on July 22, 2019, with a total of 591 companies listed and a cumulative IPO fundraising of 927.156 billion yuan by July 22, 2025 [1][2]. Underwriting and Fundraising - A total of 65 securities firms have provided underwriting and sponsorship services for the 591 STAR Market companies, with Guotai Junan leading in the number of underwritings at 112, followed by CITIC Securities with 99 [1][2]. - The top five securities firms by underwriting amount are Guotai Junan (213.777 billion yuan), CITIC Securities (167.069 billion yuan), CICC (130.254 billion yuan), CITIC Jianzhong (88.015 billion yuan), and Huatai Securities (62.288 billion yuan) [2][4]. Performance of CITIC Securities - CITIC Securities has earned approximately 6.996 billion yuan in underwriting and sponsorship income from 99 STAR Market IPO projects, maintaining its position as the top firm in this regard [5]. - Despite its strong performance, CITIC Securities faced scrutiny due to its involvement with *ST Guandian, which has been flagged for potential delisting risks, highlighting the challenges in maintaining underwriting quality [5][6]. Issues with *ST Guandian - *ST Guandian has been criticized for failing to disclose non-operating fund occupation and related party transactions, leading to significant omissions in its financial reports [6][7]. - The company’s 2022 annual report contained false records, inflating bank deposits by 139 million yuan, which constituted 13.37% of its total disclosed assets [7][8]. - The ongoing issues with *ST Guandian raise questions about the accountability of CITIC Securities and its staff regarding their oversight responsibilities [8].