April IPO zero termination: Annual withdrawal volume dropped significantly by 61%, hitting a new low in recent years.

Golden Ten Data reported on April 20 that the IPO market is showing new trends. According to statistics, in April, the Shanghai and Shenzhen North Stock Exchange has not yet terminated the review of IPO companies, since the beginning of this year, only 47 companies have terminated the review, a sharp decline of 61% from the same period last year, a new low in recent years. Since the beginning of this year, the number of IPO termination reviews has begun to show a clear month-by-month decreasing trend, with 28, 11 and 8 IPOs from January to March, respectively, and entered a state of zero termination in April. As of April 20, the total number of IPO terminations in 2025 was 47, while between January 1 and April 19, 2024, the number of IPO terminations reached 121, a 61% decrease in the number of cancellations this year compared with the same period last year. The number of cancellations in the first four months of this year is not only lower than in 2024, but also lower than in 2023, 2022, and 2021, hitting a new low in recent years. If this trend continues, this year could be the year with the fewest withdrawals since 2021.