Financial reporter Xu Yaowen.
At the end of the year, the listing of enterprises has entered the closing stage of the year.
In 2023, due to factors such as the implementation of the full registration system and the adjustment of the pace of IPOs by the China Securities Regulatory Commission in August, IPOs will be tightened throughout the year. As of December 22, there were 308 initial listings during the year, a decrease of nearly 100 compared with the same period last year.
Although the market has tightened as a whole, the Beijing Stock Exchange has been on the "fast lane" compared with the previous year. According to Flush iFinD data, 76 companies have been listed on the Beijing Stock Exchange this year, accounting for about a quarter of the newly listed companies in A-sharesDuring the year, 123 new IPO companies were accepted, and 280 companies started listing counseling, and the number of companies in the counseling has exceeded the total number of companies in Shanghai and Shenzhen.
The "19 Articles of Deep Reform" issued by the China Securities Regulatory Commission in September and the upcoming direct IPO system are the endogenous driving force to attract "new people" to the Beijing Stock Exchange, and it is believed that it will also bring more imagination to the Beijing Stock Exchange in 2024.
The proportion of A-shares listed by 76 companies increased to a quarter On December 21, Ningbo West Magnetic Technology Development Co., Ltd. (hereinafter referred to as "West Magnetic Technology") 836961BJ) was listed on the Beijing Stock Exchange, bringing the number of listed companies on the Beijing Stock Exchange to 238.
West Magnetic Technology Co., Ltd. is a comprehensive professional manufacturer of magnetic application products, specializing in the R&D, design, production and sales of magnetic filtration equipment and various magnetic application components. On the first day of listing, West Magnetic Technology ushered in a "good start", with the highest intraday increase of nearly 400%, and finally closed up 33128%。
Entering 2023, affected by factors such as the implementation of the comprehensive registration system and the adjustment of the pace of IPOs by the China Securities Regulatory Commission in August, the number of companies listed on the A** market this year has decreased significantly compared with the previous year.
As of December 22, there were 308 A-share IPOs during the year, a decrease of 120 from 428 in 2022. Whether it is the exchange or related sectors, the number of listed companies has decreased, but in terms of the proportion of A-shares, the Beijing Stock Exchange and the main board have increased.
On December 22, Hongsheng Huayuan was listed on the main board of the Shanghai Stock Exchange. So far, 58 companies have landed on the main boards of Shanghai and Shenzhen during the year, and the number of companies listed on the main board accounts for 18 of the newly listed companies in the A-share market83%, an increase of 224 percentage points.
With the gradual improvement of the market construction of the Beijing Stock Exchange, the leading effect has been further revealed, attracting more and more innovative small and medium-sized enterprises to "go north". Flush ifind data shows that as of December 22, 76 companies were listed on the Beijing Stock Exchange for the first time, accounting for 24 of the total number of A** fields68%, up from 19 percent for the whole of the previous year39% year-on-year increase of 529 percentage points.
It is worth noting that the decrease in the number of initial listings and the increase in the proportion of companies listed on the Beijing Stock Exchange have also made the overall fundraising scale this year also shrink on a large scale.
Flush ifind data shows that 308 IPOs raised a total of 3,522 funds this year0.6 billion yuan, a decrease of 2346 from the previous year800 million yuan;The average amount of funds raised is 114.4 billion yuan, a year-on-year decrease of 22.7 billion yuan.
In August this year, the China Securities Regulatory Commission proposed to adjust the pace of IPOs twice, and it can be seen from the listing of enterprises and the scale of fundraising in the following months that the tightening trend is obvious.
From March to August this year, the number of A-share companies listed for the first time in a single month was more than 30, and the scale of fundraising in a single month was more than 30 billion yuan. Since September, both data have "dived". Among them, the fundraising scale in October and November was less than 10 billion yuan.
Since September, the Beijing Stock Exchange has been blowing out the IPO of Zhejiang's largest "new army" Flush ifind data shows that as of December 21, 641 companies' listing applications have been accepted, a decrease of 130 from the previous year.
The decrease in the number is associated with the tightening of IPOs. On August 18 this year, the China Securities Regulatory Commission proposed to "reasonably grasp the rhythm of IPO and refinancing, and improve the counter-cyclical adjustment of the primary and secondary markets." Then, on August 27, the China Securities Regulatory Commission once again proposed that "according to the recent market situation, the pace of IPOs should be tightened in stages to promote the dynamic balance of investment and financing."
Judging from the actual situation since September, the Science and Technology Innovation Board and the Growth Enterprise Market are the main positions for tightening. In contrast, the IPO popularity of the Beijing Stock Exchange has increased instead of decreasing, and there has been a blowout.
Since September, a total of 48 companies' listing applications have been accepted, while only 4 and 7 companies have been accepted by the Shanghai Stock Exchange and Shenzhen Stock Exchange, respectively, and the remaining 37 companies have been accepted on the Beijing Stock Exchange.
Since the beginning of this year, 123 applications from companies planning to be listed on the Beijing Stock Exchange have been accepted. From the perspective of the geographical distribution of enterprises accepted by the Beijing Stock Exchange, 123 enterprises cover 23 provinces, of which 8 provinces have more than 5 enterprises accepted;More than 10 enterprises in 4 provinces were accepted.
Zhejiang's "new army" is the largest, with 24 companies being accepted and winning the first placeJiangsu, Guangdong and Beijing followed with 18, 15 and 10 companies respectively.
In contrast, with the implementation of the comprehensive registration system and the successive release of new regulations by the China Securities Regulatory Commission, the supervision and review of IPOs have also been tightened, and the number of enterprises that have completed the IPO process during the year has also increased.
According to Flush iFinD data, as of December 21, a total of 251 companies in the A** market have terminated the IPO process during the year, which has exceeded the 224 companies in the whole of 2022. Among them, 43 IPO companies on the Beijing Stock Exchange terminated the listing process, slightly less than the 46 in the same period last year.
During the year, 280 companies launched "northbound" counseling, and the total number of tutoring enterprises exceeded the sum of Shanghai and Shenzhen.
According to Flush iFinD data, as of December 21, there were 857 new tutoring companies in the A** field during the year, a decrease of 2975%, a decrease of 400 from 1,257 in the whole of the previous year.
The end of the year is the time period for enterprises to get together and start coaching. In the first 11 months of this year, the number of new counseling companies in a single month did not exceed 100. In December, 103 companies started counseling within 21 daysIn the past month, the number of new counseling enterprises reached 132, an increase of 5172%。
As of December 21, 280 companies have started the "northbound" counseling process during the year, a decrease of only 5 compared with the same period last year.
According to Flush iFinD data, as of 2022, there are 754 companies in counseling that know the intention to go public, and the situation in Shanghai, Shenzhen and Beijing is relatively average, with 221, 253 and 280 companies in counseling respectively.
As of December 22, the number of companies under counseling with known listing intentions has increased to 779. The number of companies under guidance on the Shanghai Stock Exchange and the Shenzhen Stock Exchange decreased to 175 and 214 respectively. The Beijing Stock Exchange is "accelerating overtaking", with 390 companies tutoring, which has exceeded the sum of the Shanghai and Shenzhen stock exchanges.
Number of companies in coaching (as of December 22, from Straight Flush ifind).
For the continuous rise in the popularity of the Beijing Stock Exchange, some industry insiders said that it is inseparable from the breakthrough of the "19 articles of the deep reform" and the promotion of the direct IPO system, "In the 19 articles of the deep reform, the listing process of enterprises has been further optimized." Coupled with the improvement of liquidity on the Beijing Stock Exchange at the end of the year, it has even attracted many GEM IPO companies to 'reroute' to the Beijing Stock Exchange. It is expected that in 2024, the implementation of the direct IPO system of the Beijing Stock Exchange will attract more high-quality companies, especially those that originally planned to be listed on the GEM, to choose the Beijing Stock Exchange. ”
The views in this article are for reference only and do not constitute investment advice）