On August 27, according to 21st Century Business Herald, there have been recent market rumors suggesting that IPO applications for unprofitable companies in the A-share market are being tightened, with a corresponding impact on the Hong Kong stock market. Sources indicate that there is currently no possibility of a blanket ban on unprofitable companies going public. Both the A-share and Hong Kong markets will continue to welcome high-quality unprofitable companies, but the review process for these companies will be more stringent. They will be required to demonstrate clearer paths to commercial monetization and expectations for performance improvement. For companies that continue to incur losses without signs of narrowing, face significant challenges in short-term commercialization, and are not absolute leaders in their niche sectors, the IPO review standards will be even stricter.