The Final Sprint Of IPO Audit In 2020, And The Annual Initial Financing Amount Will Exceed 400 Billion Yuan

Near the end of the year, IPO audit into a sprint period.

After A-share market ushered in the grand occasion of 13 IPO enterprises on the same day on November 19, the record of the number of one-day audits in the year will be refreshed again.

According to the latest data from the science and technology innovation board, the GEM Listing Audit Center, and the development and Examination Committee of China Securities Regulatory Commission, 20 enterprises will be audited in the coming week. On December 3 alone, 14 enterprises ushered in the "big test" of IPO audit, including 2 on the SME board, 4 on the main board, 4 on the gem and 4 on the science and technology innovation board.

The 21st century economic reporter collates the data and finds that since the reform of the gem and the pilot registration system, the pace of IPO audit has been significantly accelerated. In September and November, 95 and 96 enterprises respectively applied for IPO. However, in the first half of this year (January June), there were only 165 reviews.

Prior to this, sun nianrui, deputy director of the supervision department of listed companies under the China Securities Regulatory Commission, said in public: "with the implementation of the registration system reform of the science and technology innovation board and the growth enterprise market, the third step of the reform, the whole market registration system, will be promoted steadily and timely. Under the registration system, the efficiency of issuing and listing enterprises has been significantly improved, and the overall quality of listed companies has also been steadily improved. "

20 companies to be audited this week

Specifically, there are 20 enterprises to be audited this week, with a total of 15.387 billion yuan expected to be raised. Among them, 8 enterprises will be listed on the gem, accounting for 40.00% of the total enterprises to be approved, with a total planned fund-raising scale of 4.930 billion yuan, which is the largest board of enterprises to be approved; 6 enterprises are planned to be listed on the science and technology innovation board, with a total planned fund-raising scale of 6.949 billion yuan, which is the largest board to be raised; 2 small and medium-sized board enterprises are to be listed, with a planned fund-raising of 1.040 billion yuan; and 4 main board enterprises are to be listed, with a planned fund-raising of 24.67 100 million yuan.

Among them, there are 20 enterprises in chemical equipment manufacturing, chemical equipment manufacturing and information industry.

From the perspective of intermediary agencies, Soochow securities and Haitong Securities each have three enterprises to be audited, becoming the sponsor agency with the largest number of enterprises to be audited. Tianjian and Jindu, respectively, have the largest number of enterprises to be audited by clubs and law firms.

The registration system provides strong direct financing support for science and technology innovation enterprises, and the science and technology innovation board and gem are still the main force of IPO expansion in the future. Visual China

In terms of regional distribution, 20 enterprises come from 7 provinces and cities, and Jiangsu Province has the largest number of enterprises. A total of 7 enterprises attended the meeting, accounting for 35%. Shandong Province will be followed by the third.

From the perspective of enterprises, the largest scale of fund-raising is Xindian software. According to public data, Xindian software is a key software enterprise in the software and information technology service industry, focusing on providing intelligent overall solutions with software as the core for the three subdivided fields of smart bidding and procurement, smart government affairs and digital construction.

From 2017 to 2019, the operating revenue of Xindian software was 846.5286 million yuan, 1188.4018 million yuan and 1526.9844 million yuan respectively, and the net profits attributable to the owners of the parent company were 146.1432 million yuan, 216.0478 million yuan and 263.4579 million yuan respectively. The proportion of R & D investment in the last three years accounted for 15.24% of the total operating revenue in the last three years.

The IPO Financing of Xindian software is expected to raise about 2.9 billion yuan, which is mainly used for underlying technology research, smart bidding and procurement software platform upgrading, intelligent government software platform upgrading, digital construction software platform upgrading, intelligent hardware equipment upgrading, headquarters research center and regional operation center construction and supplementary working capital.

Secondly, Qingdao zhongjiate Electric Co., Ltd. and China Resources Chemical Materials Technology Co., Ltd. are expected to raise more than one billion yuan in IPO, reaching 2.502 billion yuan and 1.45 billion yuan respectively. The two companies are queuing enterprises on the science and technology innovation board and the growth enterprise market respectively.

Dong Dengxin, director of the Institute of Finance and securities of Wuhan University of science and technology, told the 21st century economic reporter: "the expansion of new shares in the A-share market is at a normal speed, which is an important embodiment of the market inclusiveness brought about by the registration system reform. At present, China's economic transformation and industrial upgrading need A-share market, especially the science and technology innovation board and the growth enterprise market, to play a leading role. "

Rapid expansion of registered IPO

Since the second half of the year, with the steady progress of the registration system, the pace of IPO audit has been accelerated.

As a matter of fact, since the second half of this year, the number of enterprises in Shanghai has reached a new high. According to the statistics of 21st century economic report reporters, except February, the number of IPO companies on IPO was controlled at about 30 each month from January to May this year, and they were not disturbed by the epidemic.

In June, the gem reform and pilot registration scheme was officially implemented. A large number of small and medium-sized enterprises applied for gem intensively. The number of entrepreneurs on the board suddenly rose to 52. In July and August, the number of enterprises on the Board reached a record high, reaching 72 and 71 respectively. On August 24, the first batch of enterprises registered on the gem went public, and the pace of IPO review was accelerated again. In September, the number of enterprises on the IPO meeting exceeded 95.

In October, affected by factors such as the National Day holiday and the IPO of ant group, the audit rhythm declined slightly, but the number of enterprises still reached 52. In November, IPO audit returned to normal again, and the number of enterprises on the meeting reached a new high, reaching 96, exceeding the highest audit record in September.

With the arrival of December, the pace of IPO audit has been further accelerated compared with previous years. According to the arrangement of the current gem and sci tech Innovation Board listing audit center and the issuance and Examination Committee of the CSRC, the number of enterprises arranged to be listed on the meeting has exceeded 20 times from December 1 to 8.

"The efficiency of audit under the registration system has been greatly improved, but there is indeed a driving force to digest the stock." An investment bank of a securities firm in South China pointed out in an interview.

In fact, after the registration system was launched, the enthusiasm of SMEs to apply for IPO was high. Wind data shows that up to now, the number of IPO companies that have been pre disclosed and in the normal queuing state is as high as 578, including 433 under the registration system and 145 under the approval system.

As of November 30, a total of 294 enterprises have not been accepted by the gem, including 29 accepted, 186 inquired and 79 suspended the examination; among the enterprises accepted by the science and technology innovation board, there were also as many as 138 enterprises that had not yet been accepted, including 17 accepted, 113 inquired, and 8 suspended and updated financial statements.

Under the great pressure of stock, the main ideas under the registration system are to speed up the audit pace and improve the audit efficiency. According to the incomplete statistics of the 21st century economic report, due to the high audit efficiency, the exchange has clear time limit requirements for each IPO process. Taking the gem as an example, the average time taken by an IPO reporting enterprise from accepting the IPO to going through the meeting is about 60 days.

With the implementation of the registration system in the A-share market, insiders predict that the initial financing amount of A-share market will reach a new high.

As of November 30, the number of Listed Companies in A-share market has exceeded 4087, of which 369 have been listed since this year, with a total initial financing amount of 399.675 billion yuan. In 2017, 2018 and 2019, the initial financing amount of A-share market was 230.109 billion yuan, 137.815 billion yuan and 253.248 billion yuan respectively.

In terms of sectors, the registration system provides strong direct financing support for science and technology innovation enterprises. 123 and 91 enterprises have been listed on the science and technology innovation board and the growth enterprise market respectively, providing financing of 1996.12 billion yuan and 79.631 billion yuan for small and medium-sized enterprises, accounting for 49.94% and 20% of the total financing amount of a shares respectively.

"Next year, I believe the number of IPOs will increase significantly," Dong said. The science and technology innovation board and the growth enterprise market will still be the main force of IPO expansion in the future. Our A-share market will give more support to new economy companies and science and technology innovation companies in the future. Therefore, the IPO expansion of a shares in the future may be more concentrated in new economy companies and high-tech companies. They will be the biggest beneficiaries. "