Due to violations in the practice of IPO sponsorship, Guotai Haitong was criticized by the Shenzhen Stock Exchange.

On May 23, the Shenzhen Stock Exchange issued a decision on imposing disciplinary actions on Guotai Haitong Securities Co., Ltd. and related parties. On May 8, 2023, the Shenzhen Stock Exchange accepted the application of Zhong Dingheng Gas Equipment Co., Ltd. for its initial public offering of shares and listing on the Growth Enterprise Market. The original sponsor for the project was Guotai Junan Securities Co., Ltd. Due to Guotai Junan's absorption and merger with Haitong Securities Co., Ltd., it was renamed Guotai Haitong Securities Co., Ltd., with Jia Chao and Chen Jinke as the project's sponsoring representatives.