There is no "gate closure" situation, and the China Securities Regulatory Commission: IPO acceptance and other related work have not been suspended
China Securities Regulatory Commission: IPO acceptance, review, registration and other related work have not been suspended, and there is no situation of IPO "closing"
Q: Recently, there have been self media reports on the closure of new stock issuance and listing gates, changes in issuance and listing standards, etc. What is the evaluation of the China Securities Regulatory Commission on this?
Answer: We also pay attention to relevant information, and these market rumors may not be comprehensive and accurate. Regarding the issuance and listing, in the near future:
One is the pace of IPO issuance. The China Securities Regulatory Commission strengthens the countercyclical regulation of the primary and secondary markets, while fully considering the bearing capacity of the secondary market, scientifically and reasonably maintaining the normalization of new stock issuance, and better promoting the coordinated and balanced development of the primary and secondary markets. The recent phase of tightening the pace of IPOs is an arrangement to maintain the stable operation of the market. The China Securities Regulatory Commission and the exchange have not suspended the acceptance, review, registration and other related work of IPOs, and there is no situation of IPOs being closed. There is no "gate closure" situation for listed companies to refinance.
The second is to support the development of technology enterprises. The China Securities Regulatory Commission is deepening the construction of the Science and Technology Innovation Board, adhering to its positioning, supporting "hard technology" enterprises in the six major industries that meet the conditions and have key core technologies to improve and strengthen through the Science and Technology Innovation Board, and guiding resources to gather in the field of scientific and technological innovation. The China Securities Regulatory Commission is studying and formulating an action plan for high-level technological self-reliance and self-improvement in capital market services, further promoting a virtuous cycle of "technology industry finance".
The third is the conditions for issuance and listing. Since the pilot registration system, the China Securities Regulatory Commission has adhered to information disclosure as the core, further clarified the positioning of sectors, streamlined and optimized issuance conditions, and set diverse and inclusive listing conditions. The Shanghai, Shenzhen, and North Stock Exchanges have basically formed a pattern of focused and coordinated development, which can meet the listing and financing needs of enterprises in different industries and development stages. At present, the positioning, issuance and listing conditions, information disclosure requirements, etc. of each sector have not changed, and there is no situation of raising the listing threshold.
![There is no "gate closure" situation, and the China Securities Regulatory Commission: IPO acceptance and other related work have not been suspended](https://a5qu.com/upload/images/7ef7e3af865b5570aa8360dfed8e1ad3.png)
The fourth is the withdrawal of some companies under review. The recently withdrawn enterprises mainly face issues such as insufficient control stability and declining performance that affect their ability to continue operating. For industry enterprises with overcapacity, strong periodicity, and low ceiling mentioned in media reports, in the practice of auditing, the China Securities Regulatory Commission and the exchange fully pay attention to the development trends of the industry and the issuer's own situation, and strictly review and control them based on industrial policies, issuance conditions, and sector positioning.
The fifth is to strictly control the quality of the audit. Since the pilot registration system was implemented, the China Securities Regulatory Commission has implemented stricter, more transparent, and more prudent supervision of issuance and listing, fully utilizing methods such as multi factor verification, audit inquiries, and on-site inspections to accelerate the clearance of problematic enterprises. During the review of issuance and listing, strict prevention and investigation of fraudulent issuance will be carried out, and the responsibilities of issuers and intermediaries will be strictly enforced. A high-pressure situation will be maintained, and financial fraud will be cracked down on with a zero tolerance attitude. Strict and severe investigations and punishments will be imposed.