Regulatory tightening, with only over 200 companies in the IPO queue, down more than 60% year-on-year.

Golden Ten Data reported on February 26 that with the stricter review of IPOs by regulators, the number of IPO queues this year is only more than 200, a decrease of more than 60% from the same period last year. Exchange data shows that as of February 24, there were 207 companies under review in each zone. Among them, there are 57 on the Shanghai Stock Exchange (37 on the Main Board and 20 on the Science and Technology Innovation Board), 54 on the Shenzhen Stock Exchange (25 on the Main Board and 29 on the Growth Enterprise Market), and 96 on the Beijing Stock Exchange. It is not difficult to see that the Beijing Stock Exchange accounts for nearly half of the total. The decrease in the number of IPO queues is related to the withdrawal of applications by some companies. As of February 24, 43 companies have announced the termination of review (withdrawal of materials + veto/termination of registration) this year, of which the GEM is the zone with the most terminated reviews. Among them, 9 on the Shanghai Stock Exchange were terminated for review, 21 on the Shenzhen Stock Exchange and 13 on the Beijing Stock Exchange.