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termina

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first_img Thirteen IPOs on the Sci-Tech Innovation Board were terminated this year, with semiconductor companies accounting for nearly 40%

The Science and Technology Innovation Board Daily cited Wind data stating that by 2026, 76 IPOs had terminated their review, with 13 from the Science and Technology Innovation Board, accounting for 17.1%. In 2025, a total of 50 IPOs were terminated, with only 3 from the Science and Technology Innovation Board, accounting for 6%. The total fundraising scale of terminated IPOs on the Science and Technology Innovation Board in 2026 was 18.248 billion yuan, nearly 5 times the 3.181 billion yuan in the same period of 2025. After entering the fourth quarter, Saikexis and Zhongke Innovation successively terminated their reviews.Among the 13 terminated projects on the Science and Technology Innovation Board, 5 were related to semiconductor and integrated circuit companies, including Wuhan Xinxin, Shanghai Xinyi, Beijing Tongmei, Taosheng Electronics, and Yadian Technology, accounting for approximately 38.5%. Beijing Tongmei was the only project that terminated during the registration phase, accepted on January 10, 2022, submitted for registration on August 1 of the same year, and terminated registration on July 2, 2026, lasting over 4 years. Wuhan Xinxin was accepted at the end of September 2024 and terminated in May 2026, queuing for nearly 600 days, intending to raise 4.8 billion yuan, accounting for about 26.3% of the total intended fundraising of the 13 terminated projects.The duration from acceptance to termination varied significantly. Huihe Medical was accepted on June 30, 2026, and terminated on September 24, taking 86 days, making it the first IPO to withdraw after being selected for on-site inspection this year. Saikexis voluntarily withdrew six months after acceptance, marking the third IPO failure in six years. Huandong Technology was accepted on November 25, 2024, and terminated on September 21, 2026, lasting about 22 months, being the first robot company to terminate an IPO this year, mainly engaged in robotic joint reducers, sponsored by GF Securities. According to the criteria of semiconductors, software equipment, hardware services, etc., there have been 37 IPO listing applications that have become invalid in the Hong Kong stock market this year, compared to 11 in the same period last year.

Huobi HTX Chief Analyst Cloud: The direction of Bitcoin awaits the determination of CPI, with the lower edge of $81,000 likely to be tested first

Bitcoin has retreated from around $86,000 at the beginning of October, fluctuating in the range of $81,000 to $84,000 in recent days, while the US dollar has strengthened and US Treasury yields remain high. Cloud, the chief analyst at Huobi HTX, believes that the likelihood of breaking down from the fluctuation range is greater.The ISM services price index rose to 74.0 in September, the highest since July 2022, and the one-year inflation expectation from the University of Michigan rose to 4.7% in October. The rise in price components and inflation expectations indicates that the probability of CPI exceeding expectations this Thursday is not low; if this materializes, the pricing for interest rate hikes at the end of the year will be further strengthened, and the lower bound of $81,000 will be tested first. Only if CPI is below expectations will the breakthrough of the upper bound of $84,000 have sustainability.The recent decline in chip stocks is mainly due to the repricing of AI capital expenditures and hardware profit expectations. The retracement of Bitcoin is smaller, indicating that its pricing is more aligned with macro liquidity, and its correlation with the AI narrative is weakening; however, this divergence is temporary. Once the US dollar and long-term interest rates regain dominance in pricing, the linkage will quickly strengthen, with the CPI announcement on Thursday evening serving as a recent testing window.
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