Since the beginning of this year, there has been a surge in companies withdrawing their IPO applications. On December 8th, Zhejiang Kefa Silicon Co., Ltd. (hereinafter referred to as "Kefa Co.") and its sponsor withdrew their application for listing. According to relevant regulations, the Shenzhen Exchange decided to terminate the review of its IPO application. As of now, more than 400 companies have terminated their IPOs this year, setting a record high. According to data from the Shanghai, Shenzhen, and Beijing Exchanges, a total of 431 companies intending to go public have withdrawn their applications this year, which is an increase of about 80% compared to the same period last year. Data shows that from 2021 to 2023, the number of companies withdrawing their IPOs in the A-share market ranged from 200 to 300, while this year's figure far exceeds other years. (Shenzhen Business Daily)