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Improving the quality of listed companies starts from the source. Recently, Qianyang Technology announced that its listing application had been terminated by the Beijing Stock Exchange, marking the 199th listing review project terminated by the Beijing Stock Exchange since its opening. If the cases transferred from the original New Third Board Selected Layer are not counted, the number of listing review projects terminated by the Beijing Stock Exchange has exceeded the number of successful listings in the same period, highlighting its strictness in review.

Since the beginning of this year, policies have been continuously strengthened to improve the overall quality of listed companies. Industry experts pointed out that although the Beijing Stock Exchange has shown a high degree of tolerance for innovative small and medium-sized enterprises, this does not mean that the standards for listing review have been relaxed. On the contrary, the overall review trend has become stricter.

The number of cases of termination of audits has increased, but the audit standards have not been relaxed

According to the official website of the Beijing Stock Exchange, Qianyang Technology is the fifth company whose listing review has been terminated since August. In fact, as of August 18, the Beijing Stock Exchange has terminated the listing review of 60 companies in total this year, an increase of 54% over the whole year of 2023. Behind this data, it reflects the strict control of the Beijing Stock Exchange over listing review.

Among the 60 terminated projects, only one was terminated after passing the review of the Beijing Stock Exchange Listing Committee, and the rest suffered a "Waterloo" in the inquiry stage. Among them, there are many projects that have gone through the second or even third round of review and inquiry. Take Dongyue Machinery as an example. After going through multiple rounds of inquiries, its listing application was finally terminated because the company took the initiative to withdraw it.