Earlier, the market also reported that King & Wood Mallesons and ShineWing had filed an investigation. Until yesterday, the IPO companies suspended the review on a large scale, and it was confirmed.

Can wait, can be replaced

  According to the "Shenzhen Stock Exchange GEM Share Issuance and Listing Review Rules", there are 7 major situations in the IPO review process. Issuers, sponsors and securities service agencies should promptly inform the exchange that the exchange will suspend the issuance and listing review, including: The issuer's sponsor or signature sponsor representative, securities service institution or relevant signatories are suspected of violating laws and regulations due to initial public offering and listing, issuance of securities by listed companies, mergers and acquisitions, or other businesses that are suspected of violating laws and regulations and have a significant impact on the market, The case is under investigation by the China Securities Regulatory Commission, or is being investigated by the judicial authorities, and the case has not yet been closed.

  At the same time, the newly declared IPO projects of the above-mentioned intermediaries will also be affected to a certain extent.

  Taking the ChiNext Board as an example, according to the “Shenzhen Stock Exchange ChiNext Board Share Issuance and Listing Review Rules”, sponsors, securities service institutions and their related personnel are identified as unsuitable candidates due to securities violations, business activities are restricted, and business activities are restricted within a certain period of time. , will be subject to relevant measures such as not accepting the relevant documents issued by it; or due to suspected violations of laws and regulations in IPO and listing, securities issuance by listed companies, mergers and acquisitions, or suspected violations of laws and regulations in other businesses that have a significant impact on the market. If the case is filed for investigation and investigation, and the case has not been concluded, the Exchange will not accept the issuer's issuance and listing application documents.

  In addition to the Growth Enterprise Market and the Science and Technology Innovation Board, there are currently more than 30 IPO companies in the three intermediaries on the Shanghai Stock Exchange and Shenzhen Main Board, and 8 IPO companies from the three intermediaries in the Beijing Stock Exchange.

  Since 2020, there have been two large-scale IPO suspensions in the whole market due to being involved in the investigation of intermediary service agencies. During the wave of suspensions, IPO companies may resume listing after the relevant intermediary agencies are investigated and the relevant circumstances are eliminated. audit; or directly replace the intermediary agency.