Why Yantai Hongyuan oxygen industry is not allowed to go public?

There are potential safety hazards in industrial gas industry. The listing plan of Yantai Hongyuan Oxygen Industry has been restricted by the regulatory authorities. Listed companies need to be audited and approved by the CSRC, which will have stricter auditing standards for enterprises in certain industries. Due to certain safety risks in the industrial gas industry where Yantai Hongyuan Oxygen Industry is located, the CSRC will be more cautious in reviewing its listing application. Yantai Hongyuan Oxygen Industry is an enterprise specializing in producing and selling industrial gases such as oxygen, nitrogen and argon. The company had planned to list on the A-share market.