This year, IPOs of 13 companies on the STAR Market have been terminated, with semiconductor firms accounting for nearly 40%.

According to the Shanghai Securities Journal, citing Wind data, as of 2026, IPO reviews have been terminated for 76 companies—13 of which are Sci-Tech Innovation Board (STAR Market) firms, accounting for 17.1% of the total. In contrast, in the full year of 2025, IPO reviews were terminated for 50 companies, only three of which were STAR Market applicants—just 6%. The aggregate planned fundraising amount for the 13 STAR Market IPOs terminated in 2026 reached RMB 18.248 billion, nearly five times higher than RMB 3.181 billion in the same period of 2025. Since Q4, both Saikesaisi and Zhongke Innovation have announced the termination of their IPO reviews. Among the 13 STAR Market firms whose IPO reviews were halted, five operate in the semiconductor and integrated circuit sector: Wuhan Xinxin, Shanghai Xinmi, Beijing Tongmei, Taosheng Electronics, and YaDian Technology—representing roughly 38.5%. Notably, Beijing Tongmei is the only one whose registration application was terminated at the registration stage; its application was accepted on January 10, 2022.