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[Introduction] The sponsored project suffered losses in the first year of listing. CITIC Securities, Guosen Securities and related underwriters were warned by the Beijing Stock Exchange

China Fund News reporter Nan Shen

It was not uncommon for IPO projects to be punished by regulators due to a sudden change in performance in the Shanghai and Shenzhen Stock Exchanges. As the number of listed companies on the Beijing Stock Exchange increased, this situation also began to occur.

On August 27, the Beijing Stock Exchange posted two regulatory decision documents on its official website. The decision documents show that Anda Technology, sponsored by CITIC Securities, and Lierda, sponsored by Guosen Securities, suffered losses in the year of listing (2023). For this reason, the two securities firms and related underwriters were issued warning letters.

According to Chioce data from Dongcai, a total of 77 companies were listed on the Beijing Stock Exchange in 2023, of which only four had losses in net profit after deducting non-recurring items, accounting for about 5%. In addition to Anda Technology and Lierda, the other two are Parallel Technology and Kangle TV. However, since the listing standards selected by the latter two do not include net profit indicators, their performance losses have not incurred penalties.

Profits exceeded 800 million in the year before listing

After listing, the company suffered a loss of over 600 million yuan in the first year

After investigation, Guizhou Anda Technology Energy Co., Ltd. (stock abbreviation Anda Technology), sponsored by CITIC Securities and two project sponsors, was listed on the Beijing Stock Exchange on March 23, 2023, and the selected listing standards included net profit standards. However, according to the 2023 annual report disclosed by Anda Technology on April 29 this year, Anda Technology's net loss attributable to shareholders of the listed company in 2023 after deducting non-recurring gains and losses was approximately 634 million yuan, and a loss occurred in the year of listing.