[HIGHLIGHTS] The Shanghai Stock Exchange’s internal document reiterates: Sponsors must check three major matters when applying for an IPO again.

The Shanghai Stock Exchange’s internal document reiterates: Sponsors must check three major matters when applying for an IPO again. The Paper noted that within two months since the last issue of "Audit Updates", only Haitong Securities Co., Ltd.

("Haitong Securities", 600837) was punished for its secondary listing IPO project. The paper has learned from multiple sources that the project is more likely to be Hangzhou Baizijian Technology Co. Ltd., or Bai Zijian.