A year later, the market was waiting for the news that Boling Electric terminated the GEM listing process. On February 21, the Shenzhen Stock Exchange revealed that Boling Electric and its sponsor SDIC ** withdrew their listing applications together.
Boling Electric mainly provides OEM manufacturing services for a number of internationally renowned small household appliance brands. Its listing journey has been quite "bumpy". In October 2020, Boling Electric passed the counseling and filing, and half a year later, the company's listing application was accepted, but it was followed by three rounds of "torture" with a total of 55 questions on the Shenzhen Stock Exchange. After answering them one by one, at the time of the meeting, Boling Electric received 4 questions from the listing committee, but in the end it was able to pass the meeting smoothly. However, after another year of silence, the announcement of submitting the registration approval document failed to arrive as scheduled, and the market was waiting for the news that the company took the initiative to cancel the order.
Before withdrawing from the IPO, Boling Electric had been questioned by the market about its business continuity, growth issues, and dependence on a single large customer. In addition, because the main business is the OEM model, the positioning of Boling Electric Appliances to sprint to the GEM is also quite controversial. In the letter of inquiry, the Shenzhen Stock Exchange asked Boling Electric to explain its own "three innovations and four innovations" related to whether it is in line with the basis and rationality of the positioning of the GEM.
According to wind data, since 2024, 12 companies have withdrawn their GEM IPOs. So far in 2023, a total of 88 GEM IPO projects have chosen to cancel their orders, of which CITIC** accounts for the largest proportion, with 15; Minsheng** followed closely with 9. According to the latest data from the Shenzhen Stock Exchange, there are currently 107 companies on the GEM.
Reporter Chen Zhi Intern Reporter Li Manhong.