According to the data, as of July 15, 2026, a total of 40 companies planning to IPO in the A-share market have terminated the listing process this year, all of which were voluntarily withdrawn by issuers or sponsors. Compared to the number of orders withdrawn by 74 companies in the same period in 2025, the drop was close to 50%. The market generally believes that this significant change reflects the continuous upgrading of quality control at the entry point of IPOs, and companies to be listed are becoming more cautious in their declarations. However, against the backdrop of normalization of on-site inspections and ongoing consolidation of the responsibilities of intermediaries, some enterprises are still evacuated urgently after being selected for on-site inspection, and the “one inspection and withdrawal” phenomenon still exists. Industry insiders said that voluntarily withdrawing an order does not equal exemption from liability; “declaration means responsibility” has been implemented as a rigid restriction. Sorting through the distribution of 40 cancellation projects, we found that the Beijing Stock Exchange became the main sector for IPOs to voluntarily withdraw orders in the first half of the year. A total of 23 companies terminated the IPO process, accounting for nearly 60% of the total number of orders withdrawn; 4 on the main board of the Shanghai Stock Exchange, 6 on the Science and Technology Innovation Board, 2 on the Shenzhen Stock Exchange, and 5 on the GEM. Companies that have withdrawn orders are mainly concentrated in industrial equipment, basic chemicals, non-ferrous metals, semiconductors and other industries.

According to the data, as of July 15, 2026, a total of 40 companies planning to IPO in the A-share market have terminated the listing process this year, all of which were voluntarily withdrawn by issuers or sponsors. Compared to the number of orders withdrawn by 74 companies in the same period in 2025, the drop was close to 50%. The market generally believes that this significant change reflects the continuous upgrading of quality control at the entry point of IPOs, and companies to be listed are becoming more cautious in their declarations. However, against the backdrop of normalization of on-site inspections and ongoing consolidation of the responsibilities of intermediaries, some enterprises are still evacuated urgently after being selected for on-site inspection, and the “one inspection and withdrawal” phenomenon still exists. Industry insiders said that voluntarily withdrawing an order does not equal exemption from liability; “declaration means responsibility” has been implemented as a rigid restriction. Sorting through the distribution of 40 cancellation projects, we found that the Beijing Stock Exchange became the main sector for IPOs to voluntarily withdraw orders in the first half of the year. A total of 23 companies terminated the IPO process, accounting for nearly 60% of the total number of orders withdrawn; 4 on the main board of the Shanghai Stock Exchange, 6 on the Science and Technology Innovation Board, 2 on the Shenzhen Stock Exchange, and 5 on the GEM. Companies that have withdrawn orders are mainly concentrated in industrial equipment, basic chemicals, non-ferrous metals, semiconductors and other industries.