Just two sizable deals are on the horizon. Shaanxi Coal Industry Co Ltd, 71 percent owned by Shaanxi Coal and Chemical Industrial Group, is hoping to make 17.25 billion yuan from a listing, while the express service branch of China Post, EMS, is anticipated to attract 9.98 billion yuan next year.

Meanwhile, 51 companies are expected to complete IPOs in the first quarter, among which one-third are in the machinery manufacturing, technology, media, telecoms and green energy sectors.

"The 51 companies' half-year financial reports are still valid according to the commission's requirement that only data within seven months could be used as listing material," said Edward Au, co-head of the national public offering group with Deloitte. "However, if they failed to finish the IPOs in January, they will have to renew the reports."

Au said that because the Chinese Lunar New Year is at the end of January, whether all the 51 firms can complete their IPOs depends on market sentiment. "Investors might lack an appetite for IPOs before the festival. If they fail to list by the end of next month, they will have to resubmit the data in March or April and there will be only nine months left next year for more listings," he added.

"Given the current market sentiment, it will take at least two years for the A-share market to absorb the 673 companies lined up for IPOs," he said. "Because the reform unfolding on the mainland will add pressure to liquidity in the capital market and the commission has changed the rules to make it easier to list, we anticipate the A-share market to fluctuate dramatically next year."

"In addition, the growth enterprise market demands at least 30 percent annual growth in the year before listing. Because the growth rate of the Chinese economy is slowing down, some companies may fail to meet the necessary criteria," Au added.

The Hong Kong stock market is expecting a better year in 2014 because up to five heavyweight IPOs are expected to push the market to a new high, said the Deloitte report. Having raised HK$166 billion this year in IPOs, Hong Kong is the second-largest IPO destination worldwide coming behind the New York Stock Exchange in terms of proceeds value.

"We believe the IPO window in Hong Kong would enable the IPO market to raise up to HK$210 billion from 85 to 100 listings next year," said Au.