Market Operations (May 2026)
This monthly report provides key statistics on the various stages of our oversight responsibilities during the reporting period. Data covers: number of listing applications processed and their status, number of comment letters and guidance issued to new/potential new listing applicants and their advisers and corresponding processing time, number of rejected and returned applications, and number of delisted and suspended companies.
Listed Company Overview
Statistics as of May 29, 2026.
Main Board: 2,374 on Jan 1, 2026; 61 new listings; 16 delistings; 2,419 on May 29, 2026.
GEM: 312 on Jan 1, 2026; 1 new listing; 6 delistings; 307 on May 29, 2026.
Total: 2,686 on Jan 1, 2026; 62 new listings; 22 delistings; 2,726 on May 29, 2026.
IPO Applications (as of May 29, 2026)
Total number of listing applications processed during the reporting period (2026 up to the reporting date): 698.
By segment (Main Board / GEM / Other(1)): Processed 663 / 10 / 25, total 698; of which:
- Existing and re-submitted applications not processed as of Dec 31, 2025: Main Board 372, GEM 6, Other 1, total 379.
- New applications accepted in 2026: Main Board 291, GEM 4, Other 24, total 319.
Application status as of May 29, 2026 (Main Board / GEM / Other / Total):
- Listed: 61 / 1 / 22 / 84.
- Approved by Listing Committee, pending listing: 19 / 0 / 3 / 22.
- Under processing: 494 / 6 / 0 / 500.
- Other (time expired, rejected, returned, or withdrawn): 89 / 3 / 0 / 92.
Processing Time (Exchange Comment Letters/Guidance and Key Stages)
Data notes: The Exchange treats all listing applicants equally in accordance with the Rules; processing time is affected by multiple factors (including quality and timeliness of applicants' replies, time for approvals from other government departments and regulators, etc.). The following shows the corresponding business days for letters/replies issued by the Exchange during the relevant report month.
May 2026 relevant indicators:
- Guidance on the Listing Rules for proposed new listing applications: 21.
- Median business days for Exchange to issue written reply: 8.
- First comment letters issued for new listing applications: 42; median business days for first comment letter: 14.
- Second comment letters issued for listing applications: 50; median business days for second comment letter: 18.
- Hearing document letters issued for listing applications: 36; median business days for hearing document letter: 15.
- Letters issued in May 2026 regarding incomplete replies/significant issues/major new developments: 9.
Listing applications submitted to the Listing Committee for consideration in the 12 months ended May 29, 2026: 158.
- Median total business days for Exchange comment letters from receipt of listing application to issuance of hearing document letter: 35.
- Median total business days for parties other than the Exchange (e.g., sponsors) from receipt of listing application to issuance of hearing document letter: 64.
- Median total business days from receipt of listing application to issuance of hearing document letter: 98.
Newly listed companies in the 12 months ended May 29, 2026: 153; median total business days from passing the Listing Committee hearing to listing: 18.
Information on Delisted and Suspended Companies (as of May 29, 2026)
Statistics: A. Delisted companies (since Jan 1, 2026), B. Companies suspended for 3 months or more (as of May 29, 2026).
A. Number of delisted companies (Main Board / GEM / Total):
- Listing cancelled under delisting procedures of the Listing Rules: 9 / 4 / 13.
- Voluntary withdrawal of listing: 7 / 1 / 8.
- Delisted from GEM and transferred to Main Board: N/A / 1 / 1.
- SPAC acquisition: 0 / N/A / 0.
Total: 16 / 6 / 22.
B. Number of companies suspended for 3 months or more (Main Board / GEM / Total):
- Delisting approved by Listing Committee: 5 / 1 / 6.
- Other suspended companies: 60 / 11 / 71.
Total: 65 / 12 / 77.
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