Investor Presentaiton
A-share IPOs: 2021 outlook
China has demonstrated its resilience as it continues its recovery from the COVID-19 pandemic. On the back of
stabilising economic conditions and positive factors such as the Chinese regulators' accelerated capital market
reforms this year, the A-share market has made a strong showing in the current year.
The pipeline remains strong, recording over 800 active applicants as at 6 December, boosted by the number of
applicants in the registration-based STAR Market and the ChiNext board, indicating solid confidence and
recognition from the market. In regard to sectors, TMT and advanced industrials comprised over 60 percent of
the pipeline and are expected to remain the key driving force in the A-share IPO market.
The pilot registration-based IPO system launched by the ChiNext board in June this year is designed to ease
the burden on enterprises and increase transparency with an open and paperless application review process.
Wide market interest has been evident as the number of active applicants in the market already reached 390 -
all submitted since June this year. The reform is enhancing the diversity and competitiveness of China's capital
markets and further helps innovative growth companies or start-ups to expand their business and raise funds.
KPMG
The A-share market had a deepened capital market reform
with the expansion of registration-based IPOs this year amid
China's focus to foster a multi-level capital markets system. This
would further increase market inclusiveness and coverage,
assisting companies of different sectors meeting their funding
demands, and further bolstering the real economy as a whole. "
Louis Lau
Partner
Capital Markets
KPMG China
山民生银
16
10
© 2020 KPMG, a Hong Kong partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited
("KPMG International"), a private English company limited by guarantee. All rights reserved.View entire presentation