The North Exchange conducts multiple rounds of progressive inquiries into companies planning to go public, rigorously examining the "gold content" of their performance and the feasibility of their fundraising projects.

Since August, 18 companies planning to list on the North Stock Exchange have updated their related dynamics, with 6 disclosing the second round of review inquiry letters, 2 disclosing the third round of review inquiry letters, and another 10 companies disclosing inquiry responses. A review found that regulatory inquiries have clearly progressed in depth, extending from traditional financial data verification to a multidimensional examination of the substance of business and sustainable operating capabilities, focusing on the three core dimensions of performance sustainability, rationality of fundraising projects, and authenticity of income. This reflects the North Stock Exchange's regulatory orientation of strictly controlling the entry point from the source and improving the quality of listed companies.