Only Two Companies Passed Among Yesterday's Six IPO Applications
Xu Wei
/SOURCE : Yicai
Only Two Companies Passed Among Yesterday's Six IPO Applications

(Yicai Global) Nov. 1 -- As LeEco's 'IPO Review' event continues, the 17th initial public offering (IPO) review and approval panel of the China Securities Regulatory Commission (CSRC) held two meetings.

The panel yesterday convened its 21st and 22nd meetings this year to review the IPO applications of six companies, in which three failed and one was deferred for a later vote, with only two companies passing, the CSRC website shows.

Among the six, only Monalisa Group Co. and Xinguang Lvhuan Recycling Resource Co. passed. The three companies that failed include Harbin Sayyas Windows Stock Co., Haining China Textile City Co. and Winner Medical Group Inc. ZOY Home Furnishing Co. was postponed for voting.

The latest review and approval results have drawn widespread attention after authorities detained for questioning several of its panel members involved in the IPO of Leshi Internet Information & Technology Corp. Beijing [SHE:300104], which is still mired in woes.

Suspected financial fraud in Leshi's IPO prompted the investigation of several CSRC IPO panel members at that time. These included Xie Zhongping, the first ChiNext IPO review and approval panel member, and Asia-Pacific (Group) Certified Public Accountants Co. deputy chief accountant Sun Xiaobo and the deputy general manager of Beijing Tianyuan Certified Public Accountants, as Caijing reported yesterday.

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Keywords: IPO , Leshi , CSRC