The year 2021 has witnessed Grandall's leading position in IPO practice area, continuously leading the capital markets legal service industry.  According to the statistics of China Securities Regulatory Commission, Shanghai Stock Exchange, Shenzhen Stock Exchange and Beijing Stock Exchange, there were a total of 522 companies which completed their initial public offerings and listings in 2021; among them, 75 were served by Grandall as issuer legal advisor, representing 14.4% of the total, ranking first among law firms.  Meanwhile, among the 443 companies which were approved for their initial public offerings in 2021, a total of 54, or 12.2%, were served by Grandall as issuer legal advisor, ranking first among law firms.