Strictly control the entry gate, clean out and assist each other, overall improvement in the quality of listed companies.

As of the deadline for annual report disclosure on April 30, the A-share market has handed in the report card for "improving quality and efficiency" in 2024: among the 5403 listed companies, over half achieved positive revenue growth, with 55% of new listed companies achieving both "revenue + net profit" growth, three-quarters of the companies achieving profitability, and the performance of the GEM (Growth Enterprise Market) and the Sci-Tech Innovation Board particularly eye-catching. As we entered 2025, the number of IPO terminations showed a phase characteristic of "stability first and then decline". In January, 21 companies were terminated, which was basically the same as 19 in the same period of 2024; in February, 9 companies were terminated, a decrease of 4 from 13 in the same period last year; in March, 6 companies were terminated, significantly lower than 26 in the same period of 2024; in April, only 2 companies were terminated, far less than 31 in the same period last year, only 1/15 of it. As of May 1st, the cumulative number of companies terminating IPO reviews reached 38, a decrease of 57.3% from 89 in the same period of 2024, almost halved. The data shows that in 2022 and 2023, 50 and 46 companies respectively steadily delisted, with the number increasing to 55 in 2024. As of April 30, 2025, 22 companies have confirmed delisting. Among them, 2 companies were delisted due to major violations, 9 due to financial reasons, 8 due to trading reasons, and 3 voluntarily delisted companies, indicating a smooth diversification in exit channels and continuous effectiveness in the turnover of capital markets.