The full chain of IPO inspections demonstrates effectiveness and the quality of enterprise declarations steadily improves.

With the implementation and effectiveness of various regulatory measures, the quality of IPO reviews in the A-share market has significantly improved. The standardization and disclosure quality of reporting enterprises have greatly improved, and market anomalies such as "inspection and withdrawal" have been fundamentally reversed. Market participants have a clearer expectation of on-site inspections, and the mindset of enterprise reporting has shifted from "chancing their luck" to "compliant reporting". A securities underwriter stated that regulatory authorities have increased requirements for the financial authenticity and disclosure quality of potential IPO companies through mechanisms such as "reporting is responsibility", on-site inspections, and strengthened inquiries. The IPO market has completed a structural transformation from quantity expansion to prioritizing quality. With increasingly clear policy expectations, intermediary institutions are strictly controlling the entry, making it easier for high-quality enterprises with technical advantages and growth potential to obtain capital favor and support.