Is it possible that my application for z visa will be denied even i have all the requirements?

Me and my fiance just got home here in philippines because our former employer cut our Z type. But we have our new employer now and she make all the requirements from chinese government. We already filed our applications. And now we are just waiting for the result. What if our application will be denie? Can we apply for onother one immedietly? Or we have to wait for a few months?