This database system compiles the full suite of disclosure document texts for initial public offerings (IPOs) of A-share companies listed on the Shanghai and Shenzhen stock exchanges, covering core documents such as prospectuses, issuance announcements, and legal opinions. Sourced from China Securities Regulatory Commission (CSRC)-designated information disclosure platforms, the data undergoes standardized processing to form two independent sub-databases for each exchange (Source A and Source B). It includes fields such as stock code, company name, title, announcement date, URL, category, market segment, industry, and year. By parsing the complete textual chain during the IPO process, this database provides foundational support for research on corporate financing behavior, information disclosure quality, and regulatory policy evolution, covering key issuance cycles over the past decade.

Data Uniqueness:

• Sole Structured IPO Text Repository in the Market: First systematic integration of fragmented IPO disclosure documents by exchange (SSE/SZSE) and document type (Source A/B).
• Complementary Dual-Source Framework: Source A focuses on announcement metadata (code, title, date, URL), while Source B extends to corporate attributes (industry, segment, category, year), enabling cross-dimensional analysis.

Data Application Value:

• Academic Research: Supports empirical studies in corporate finance (IPO underpricing, textual information content), accounting (information disclosure quality), and law (compliance review).
• Industry Insights: Reveals disparities in issuance documents across market segments (e.g., STAR Market vs. Main Board) and policy impacts on corporate financing behavior.
• Policy Evaluation: Tracks diachronic evolution of issuance criteria and risk disclosures, providing data foundations for regulatory effectiveness assessment.

  The CnOpenData A-Share IPO Issuance Text Database bridges underlying data gaps in standardized research on China’s IPO market for academia and industry through systematic integration of full-cycle disclosure texts. Its distinctive dual-source architecture, continuously updated complete chain, and traceable official data attributes establish it as core infrastructure for investigating China’s capital market issuance mechanisms, corporate financing strategies, and policy evolution. For researchers and institutions specializing in China’s financial market, this repository significantly enhances empirical analysis depth and credibility.

---

Time Coverage

• SZSE IPO Documents - Source A: 2002.2.27–2025.6.22
• SZSE IPO Documents - Source B: 2001.8.11–2025.4.30
• SSE IPO Documents - Source A: 2013.12.31–2025.6.22
• SSE IPO Documents - Source B: 2001.1.10–2025.4.30

---

Field Display

---

Sample Data

SZSE IPO Documents - Source A

---

Data Update Frequency

Annual updates