On August 27, according to 21st Century Business Herald, there have been recent market rumors suggesting that the IPO applications for unprofitable companies in A-shares are being tightened, with a simultaneous impact on Hong Kong stocks. Sources indicate that there is currently no possibility of a blanket ban on unprofitable companies going public. Both A-shares and Hong Kong stocks will continue to welcome high-quality unprofitable companies, but the review process for these companies will be more stringent. Companies will be required to have clearer paths to commercial monetization and expectations for performance improvement. For companies that have sustained losses with no 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.