The IPO market shows new signals as the number of acceptances significantly increases.

Driven by the dual-wheel drive of policy and market, the A-share IPO market is experiencing new changes. Specifically, on the coaching side, the new round of deepening reform of the science and technology innovation board has activated the capitalization expectations of high-quality enterprises, and unicorn companies in fields such as commercial aerospace and quantum computing have successively started the IPO process. On the acceptance side, 185 companies have had their IPO applications accepted this year, doubling from the total of 76 companies accepted in the entire year of 2024. On the issuance side, there has not been a large-scale expansion this year. As of now, the number of new A-share listed companies is basically the same as the same period last year, with a slight increase in the number of companies approved for listing. Interviewed investment bankers expect that, with the synergy of policies, markets, and enterprises, IPO issuance is expected to continue the current steady and progressive pace. Among them, hard technology and other tracks will continue to be the market focus, and high-quality companies with core technology and clear business models are more likely to be recognized by the market.