The father and son, the actual controller of Shuangcheng Pharmaceutical, “crossed the border” and acquired an Indian chip design company at the end of 2017 and declared a listing on the Science and Technology Innovation Board at the end of 2022. Now news of the termination is coming. On the evening of May 27, the official website of the Shanghai Stock Exchange revealed that due to the withdrawal of Ningbo Aola Semiconductor Co., Ltd. (Aura shares) and its sponsor, Haitong Securities, the listing application, according to relevant regulations, the Shanghai Stock Exchange terminated its issuance and listing review. The company is small in size. At the time of filing for listing, the net assets of the latest financial report were only 409 million yuan, but the proposed amount of capital raised was 3 billion yuan. To this end, the Shanghai Stock Exchange requires the company to explain how the scale of capital raised matches the size of assets, personnel size, stage of development, technical ability, and ability to obtain orders. The rationality of the company's large dividends when undistributed profits are negative has also attracted attention. (China Foundation News)