The good thing is that many times, Zhongxin Heavy Industry has been listed and approved.

Summary of contents: In the afternoon of June 15, the reporter learned from the person who was close to the supervisory level that he had been issued the approval letter of CITIC Heavy Industry that will last three months. The prospectus (submission draft) pre-disclosed by CITIC Heavy Industries Co., Ltd. shows that no more than 685 million shares are planned to be issued publicly; the fundraising is used for 3 projects including high-end electro-hydraulic intelligent control equipment manufacturing.

After the accumulation of super large-cap stocks channels in the past six months, the approval of a piece of paper on the market may set the wind direction.

On the afternoon of June 15, the reporter learned from an individual who was close to the supervisory level that he had been issued an approval letter for CITIC Heavy Industry that would last for three months.

This is the largest financing scale IPO project that has passed the meeting since 2012 and has been approved for issuance.

Those familiar with the IPO of large-cap stocks all know that since October 2011, the market has been weak and the regulators have changed. At the same time, many large-cap IPOs that have already passed the meeting have been suspended, and they have subsequently been required to abruptly issue shares, including the end of 2011 A+H. Simultaneously listed Xinhua Insurance; China Communications Construction, which was not issued until the beginning of 2012; and Shaanxi Coal, which has not been approved for distribution for nearly one year.

It must be admitted that the super-large-cap stocks that have passed, but have not yet been issued, are like a sword of Damocles hanging on the A-share market.

With several super-large-cap stocks that have raised billions of funds, they will not be listed. In addition to CITIC Heavy Industries, which has just been approved for approval, there are plans to raise 17.2 billion shares of Shaan Coal and raise nearly 10 billion EMS. The total financing of the three companies is close to 32 billion yuan.

Now that CITIC Heavy Industry has obtained a release approval, does it indicate that the release trend of the suspension of super-large-cap stocks is about to change?

On June 18th, IPO financing exceeded 4 billion yuan. "The approval letter of CITIC Heavy Industries has been issued. According to the usual practice, the prospectus will be published on the evening of June 17, and the IPO procedure will be opened on the 18th, followed by the roadshow, pricing, and subscription." On the afternoon of June 15, the above-mentioned sources close to the supervisory level revealed to reporters that according to the general process arrangement, if all goes well, CITIC Heavy Industries will complete the issuance process by the end of June and go on the market in mid-July.

According to the reporter's understanding, although CITIC Heavy Industries has raised billions of dollars in financing, it has not been met with the requirement of the management to reduce the circulation in large scale compared with the financing plan that was disclosed in March this year.

The prospectus (submission draft) pre-disclosed by CITIC Heavy Industries Co., Ltd. shows that no more than 685 million shares are planned to be issued publicly; the fundraising is used for 3 projects including high-end electro-hydraulic intelligent control equipment manufacturing.

In this report, CITIC Heavy Industry did not mention the detailed financing scale, but the high-end electro-hydraulic intelligent control equipment manufacturing projects, new energy equipment manufacturing industrialization projects, and energy-saving and environmental protection equipment industrialization projects that the fundraising plans to invest shall be used in a total fund-raising application. The amount was 4.131 billion yuan.

In fact, before the pre-disclosure of CITIC Heavy Industries, the company has already reduced its shareholdings according to the relevant opinions of the regulators.

At the beginning of 2012, after CITIC Heavy Industries passed the preliminary review, and prior to the pre-disclosure implementation feedback, the size of the IPO was no more than 880 million shares. Based on relevant data reported at that time, the financing scale was estimated to be about RMB 6 billion, and its fund-raising projects totaled Five. The scale of pre-disclosed financing was reduced by nearly 200 million shares from the previous period, and the number of raised investment projects was reduced by two, and the financing was controlled within 5 billion yuan.

"Controlling within 5 billion is to meet the relevant requirements of the supervisory authorities at that time." At the time of Sri Lankan, a person close to the supervisory level stated to reporters: "The supervisory level has not changed its attitude on controlling the scale of large-cap stock financing, although it is not a rigid requirement. There is no clear provision, but the regulator still hopes to control the scale of large-cap stock financing to less than 5 billion. If it exceeds the scale and is unwilling to reduce its share, it will have to wait for the right time to mention the issue.

The large-cap stock issuance channel is still silting the release of IPO from CITIC Heavy Industry. Does it mean that the channel for the issuance of large-cap stocks in the past six months has begun to loosen; that the sword of Damocles hanging high will soon fall?

“The release of CITIC Heavy Industry cannot explain the complete release of the large-cap stock issuance channel.” On June 15, the above-mentioned informed sources close to the regulator disclosed that in the second half of 2011, Shaanxi Coal and China Construction Communications had nearly 20 billion yuan in financing, respectively. Proposed to issue shares.

“In the beginning, it was hoped that they could be squeezed into 5 billion shares.” According to the person familiar with the matter, in early 2012, China Construction decided to reduce its shares in exchange for issuance time, and Shaanxi Coal Co., Ltd., which had been in session since the end of August 2011, declined. As a result, the shares were reduced, so although they were earlier than China’s large-cap stocks such as China Construction Construction, they were ranked lower in terms of issuance procedures.

“In the first half of 2012, the relevant requirements for the issuance of stocks were loosened, but Shaanxi Coal still refused to reduce its shareholdings, so it was difficult to issue shares for nearly a year.” The person familiar with the situation added, and CITIC Heavy Industries has declared from the very beginning. In accordance with relevant requirements to reduce the size of the issue, and to control the scale of 5 billion, and the supervising layer in the super-large-cap stocks issued attitude is not contrary.

At the end of March 2012, CITIC Heavy Industries had been approved for approval three months later.

“Since 2012, the overall pace of IPOs has slowed. The number of IPOs that will be issued this year will be only half of the same period last year, and the overall review process will slow. Therefore, it may take only one month or more after last year to get approvals. And it takes nearly three months this year,” said the person familiar with the situation.

So, when will the long-term CITIC Heavy Industry Co., Ltd., which has been sitting for several months, send coal to Shaanxi Coal Co., Ltd.? Can the final financing scale change? Can the EMS that passed the meeting a month earlier than CITIC Heavy Industry be released soon after the approval of the former? The answer still needs to wait.