Qichacha Withdraws Shanghai Main Board IPO Application; SSE Terminates Review

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Summary · why it matters

The Shanghai Stock Exchange disclosed on the evening of October 9 that, because Qichacha and its sponsor CITIC Securities voluntarily withdrew the issuance and listing application, the exchange terminated its review of the Shanghai main board IPO in accordance with rules. Qichacha's Shanghai main board IPO was accepted on October 10, 2025, and entered the inquiry stage the same month. The company had originally planned to issue no more than 40.25 million shares and raise 1.5002 billion yuan, of which 503 million yuan was earmarked for commercial big data artificial intelligence research and development, the largest single proposed use of proceeds. The prospectus shows that from 2023 to 2025, Qichacha's revenue was 618 million yuan, 708 million yuan, and 787 million yuan respectively, while net profit attributable to the parent company was 259 million yuan, 317 million yuan, and 377 million yuan respectively. In 2025, the company's gross margin reached 91.41 percent, and by the end of 2025 it had accumulated 162 million registered users.

Impact on assets 2

Others▼
CITIC Securities Co Ltd
600030
▼ NegativeCapitalrelevance

CITIC Securities, as sponsor, saw its client Qichacha withdraw the Shanghai main board IPO application, terminating the listing review.

Off-coverage companies 1

企查查 (Qichacha)i
Private▼ NegativeCapitalrelevance

Qichacha voluntarily withdrew its Shanghai main board IPO application, ending its planned 1.5002 billion yuan listing and the SSE review.