589 companies IPO suspension review of Op, Ocean Throne

[High-tech LED reporter Zhao Hui] When the IPO was opened less than one month after the second opening in the year, the CSRC suddenly threw heavy news on July 4, and the Shanghai and Shenzhen Stock Exchanges had accepted the application and pre-disclosed 637. Among the first-time enterprises, 589 companies have suspended their censorship, including Ou Pu Lighting, Ocean King Lighting, Shengdi Optoelectronics and other famous LED lighting companies and materials supporting enterprises.

At the same time, 129 IPO companies have terminated their review this year. These include LED power supply company Igor Electric Co., Ltd.

According to the summary of the status of the audit of the first-in-coming enterprise audit issued by the China Securities Regulatory Commission, as of July 1, the CSRC has accepted and pre-disclosed a total of 637 initial enterprises, including 40 enterprises that have already passed the meeting and 597 enterprises that have not passed the meeting. Among the 597 companies that have not met, 8 companies are in the state of normal review, and 589 companies have been suspended. Among the 589 companies that were “suspended”, the number of companies in the SSE, the Shenzhen Stock Exchange, and the GEM suspended for censorship were 267, 123 and 199 respectively.

According to the "Regulations on Issuance Supervision - The Case of Suspension Examination of Initial Public Offerings" issued by the CSRC in April this year, if the financial information recorded in the issuer's application documents has expired, the review will be suspended; If the financial information has expired and has not been updated within 3 months, the review will be terminated.

According to the data released by the China Securities Regulatory Commission, 568 of the 589 companies that were suspended for review were temporarily suspended for review due to the expiration of financial information, and 11 were suspended due to changes in intermediaries and related signatories. There are also 10 companies that are limited by the fact that the intermediary agencies are restricted by professional investigations such as the investigation by the Securities and Futures Commission.

A brokerage researcher said that most of the financial data of the proposed IPO companies are as of December 31, 2013, and by June 30 of this year, the financial information has passed the validity period and was suspended for review. These enterprises should Update financial information by the end of September or the review will be terminated.

The difference between the suspension review and the termination review is described by the above analysts. Suspension is like a "pause", supplementing the information to resume the review, and termination means that the IPO process has ended.

At present, two LED companies such as Mulinsen have passed the examination.

“These companies that have suspended the review can resume the review even if they have completed the complete information. However, due to the re-audit of the new supplementary financial data, plus the report materials, it will take a long time to wait until the end of the year. ."

In the latest data, "High-tech LED" reporter found that some LED companies that have already pre-disclosed IPOs have quietly changed their listings, such as Yuanhui Optoelectronics and Hunan Aihua, all of which have been transferred from the original SZSE to the Shenzhen Stock Exchange. Shanghai Stock Exchange Main Board.

The reason for the transfer of the listing place is that there are too many companies in the Shenzhen Stock Exchange, and the CSRC also encourages enterprises to queue to the Shanghai Stock Exchange.

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