The financing amount for A-share IPOs has returned to 100 billion

In 2025, the financing amount for A-share IPOs returned to over 100 billion, reaching 100.359 billion yuan, which is an increase compared to 2024, but still lower than the historical highs of 2021 and 2022. The main board contributed the most, with Huadian New Energy's IPO financing amount reaching 18.171 billion yuan. The financing amounts for the Sci-Tech Innovation Board and the Growth Enterprise Market were similar to those in 2024. The increase in IPO financing has boosted investment bank revenues, with five investment banks including Guotai Junan surpassing 10 billion yuan in sponsorship amounts. IPOs have significant implications for supporting the real economy and are expected to provide stronger capital momentum for industrial upgrades in the future