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Since the beginning of this year, A-share IPOs have undergone significant changes, with both the number of IPOs and the amount of funds raised falling sharply year-on-year.

According to IFinD statistics, from January to July 2024, the Shanghai Stock Exchange, Shenzhen Stock Exchange and Beijing Stock Exchange added a total of 50 listed companies, raising a total of 36.726 billion yuan. Among them, there are 15 companies listed on the main board, 18 companies listed on the Growth Enterprise Market, 7 companies listed on the Science and Technology Innovation Board, and 10 companies listed on the Beijing Stock Exchange.

Compared with the 210 listed companies in the same period last year, the number of listed companies this year has dropped sharply by 76.19%, and the funds raised have decreased by 85.01% year-on-year (the total amount of funds raised last year was 245.08 billion yuan).

50 new stocks listed in the first 7 months

According to IFinD data, from January to July 2024, a total of 50 A-share companies were newly listed, raising a total of 36.726 billion yuan. Among them, 15 companies were listed on the main board, raising 15.683 billion yuan; 18 companies were listed on the Growth Enterprise Market, raising 10.911 billion yuan; 7 companies were listed on the Science and Technology Innovation Board, raising 8.336 billion yuan; and 10 companies were listed on the Beijing Stock Exchange, raising 1.796 billion yuan.

From the perspective of location, the listed companies from January to July 2024 are distributed in 13 provinces, cities and municipalities. Among them, Guangdong Province has the largest number of listed companies, with a total of 10 companies listed; Jiangsu Province is closely followed by 9 companies listed; Zhejiang Province ranks third with 7 companies listed. In addition, Shanghai and Hubei Province have 5 and 4 companies listed respectively.

In terms of the amount of funds raised in various regions, Guangdong enterprises raised a total of 6.977 billion yuan; Jiangsu enterprises raised a total of 6.318 billion yuan; Zhejiang enterprises raised a total of 4.824 billion yuan; Shanghai enterprises raised a total of 5.460 billion yuan; Hubei enterprises raised a total of 2.806 billion yuan.

From the perspective of geographical distribution, the eastern coastal developed regions such as Guangdong, Jiangsu, Zhejiang, and Shanghai have a high level of economic development and strong innovation capabilities, which have attracted a large number of high-quality companies to go public for financing. This has not only promoted the transformation and upgrading of the local economy, but also injected new vitality into the national capital market.

From the perspective of industry distribution, companies in the fields of semiconductors, general equipment, special equipment, consumer electronics, etc. have become the main players in listing. As China's economic transformation and upgrading progresses, these industries will receive continuous policy support and broad development space.

In terms of the amount of funds raised by individual stocks, the top five companies are Yongxing Co., Ltd., Aero Energy, DAMO Data, Nova Nebula, and Longcheer Technology, with fundraising amounts of 2.43 billion yuan, 2.226 billion yuan, 1.652 billion yuan, 1.629 billion yuan, and 1.56 billion yuan, respectively, belonging to Guangdong Province, Zhejiang Province, Hubei Province, Shaanxi Province and Shanghai, respectively.

IPO scale has shrunk significantly

Since the beginning of this year, A-share issuance activities have continued to shrink.

From January to July 2024, a total of 50 new listed companies were added, a year-on-year decrease of 76.19%; the total fundraising funds were 36.726 billion yuan, a year-on-year decrease of 85.01%.

Both the number of IPOs and the amount of funds raised have dropped significantly in the first seven months of this year compared with the same period last year. In the same period last year, a total of 210 companies successfully listed on the A-share market, raising a total of 245.08 billion yuan, nearly seven times the amount of the same period this year.

It is worth noting that the six new stocks listed in July were all small and medium-sized projects, and the phenomenon of fund-raising shrinkage occurred frequently. For example, Green Union Technology (301606.SZ), the largest in market value, only raised 880 million yuan, originally planned to raise 1.5 billion yuan; Liju Thermal Energy (603391.SH) raised 910 million yuan, originally planned to raise more than 1.5 billion yuan.

Although the listing process is difficult and the fundraising scale is not ideal, it is precisely because of this "rarity" that new stocks generally perform well on the first day of listing. Five of the six new stocks in July saw a first-day increase of more than 100%. So far this year, 29 new stocks have doubled, accounting for 58%.

Since the beginning of this year, the "315" policy, the new "9 national regulations", the "430 new regulations", the "8 sci-tech innovation board regulations", the new regulations on on-site inspections for initial public offerings, and the optimization of listing conditions by the three major exchanges in Shanghai, Shenzhen and Beijing have raised the threshold for IPOs. For example, the "Rules for the Issuance and Listing of Stocks" and the "Guidelines for the Evaluation of Scientific and Technological Innovation Attributes (Trial)" and other rules launched on April 30 this year have improved the quality of listed companies from the source by moderately improving the financial indicators of companies on the main board and the Growth Enterprise Market, and the evaluation standards for the scientific and technological innovation attributes of the Science and Technology Innovation Board.