What happened to the drug companies whose listing applications were terminated by science and technology makers?

[industry news of pharmaceutical network] on July 24, the Shanghai Stock Exchange issued a notice that Beijing noconda Pharmaceutical Technology Co., Ltd (hereinafter referred to as "noconda") terminated the listing application of science and technology innovation board This is also the medicine enterprise that science and innovation board member stops listing application According to the public information, noconda is a pharmaceutical enterprise committed to the research of pharmaceutical delivery system platform for excipients innovation Its main business includes providing pharmaceutical research and other technical research and development services for major pharmaceutical enterprises and drug marketing license holders based on the above platform, as well as the development business of independent research and development products focusing on innovative preparations, medical devices and special medical food On April 12, noconda filed its prospectus According to the prospectus, from 2016 to 2018, noconda's revenue was 22.0302 million yuan, 74.8949 million yuan and 185 million yuan respectively; its net profit was 6.0169 million yuan, 35.0428 million yuan and 77.5777 million yuan respectively Noconda plans to issue no more than 20.52 million shares, with a total of 437 million yuan to be raised The raised funds are mainly used for pharmaceutical research platform construction projects and clinical comprehensive service platform construction projects On April 19, noconda received an inquiry letter from the Shanghai Stock Exchange In the inquiry letter, the Shanghai Stock Exchange raised 48 questions, mainly involving seven major issues, namely, equity structure, core technology, corporate governance and independence, financial accounting information and management analysis, risk disclosure and other matters On May 8, the Shanghai Stock Exchange disclosed its inquiry and reply to noconda, but later there was no progress Until the termination, noconda remained in the inquired state According to the reasons for the withdrawal of noconda's IPO, there are industry speculation or related to the company's customer background, customer concentration, the rationality of customer business sales, etc The industry believes that from the perspective of the prospectus, noconde relies heavily on its key customers Among them, since 2016, Huazhong pharmaceutical industry has been a major customer of noconde, accounting for 62.19%, 54.65% and 23.92% of the revenue of noconde in the past three years From 2017 to 2018, the second largest customer of noconde is Yijia Xinchuang, which sounds like a medical device company, but noconde and noconde have reached a technology development (entrustment) contract for generic drug technology development, and the establishment time coincides with the contract time In addition, there are a series of A-share listed companies lurking behind noconda For example, Huifeng Group Co., Ltd and pianzehuang Group Co., Ltd respectively hold the equity of noconde through Shanghai focus and Shanghai Qingke Huagai Xincheng is also a shareholder of the company The partners of Huagai Xincheng include more than a dozen A-share listed companies, such as tag pharmaceutical, Zhejiang Pharmaceutical, Zixin pharmaceutical, Tianshili, Kunming Pharmaceutical Group, etc However, at the media conference held by noconda on July 25, Tao Xiumei, general manager of noconda, pointed out the reasons for the termination of the listing application of science and technology innovation board The prospectus was relatively failed, the time was relatively tight, and the writing of the prospectus was relatively rough And said that this is the initiative to terminate the application for science and technology innovation board, and will choose the opportunity to make a second application in the future According to statistics, as of the evening of July 25, a total of 149 companies' listing applications have been accepted by the science and innovation board platform of Shanghai Stock Exchange, of which 8 have been accepted, 101 have been inquired, 7 have been submitted for registration through 1, 28 have been registered, 1 has been suspended and 3 have been terminated In addition to noconda, the other two terminated enterprises are Hexian chip manufacturing (Suzhou) Co., Ltd and Beijing papaya Mobile Technology Co., Ltd.