Why didn't Essence Securities go public?

Essence Securities itself has not been straightened out because of the great uncertainty of equity. I am not listed for the time being, so I am not a shareholder of a listed company. Essence Securities Co., Ltd. was established on August 22, 2006 with a registered capital of 7 million yuan. Scope: Securities brokerage; Securities brokerage; Securities broker; Securities investment consulting; Financial advisers related to securities trading and securities investment activities.