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How about www.LegiEX.com? The significance of the science and technology board over one hundred

How about www.LegiEX.com? The significance of the science and technology board over one hundred, the April day of the science and technology board is earlier than expected. When the huge risk challenge brought by the new coronary pneumonia epidemic to the global financial market has just begun, when the GEM reform plan has only begun to emerge, the Science and Technology Board has quietly entered another new milestone.

On April 29, Hangzhou Guangyun Technology Co., Ltd. struck a listing gong in Asia's largest trading hall, marking the successful breaking of the number of science and technology board enterprises. From 0 to 100, the Science and Technology Board used 283 days to show the world the fruits of the new round of reforms in China's capital market. Taking the science and technology board as the first step, refine the "touchstone" of capital market reform.

On the day before the number of science and technology board companies reached three digits, the official announcement of the Shanghai Stock Exchange will actively promote basic system reforms such as issuance, listing, information disclosure, trading, delisting, and product innovation of science and technology boards. The convenience of venture capital investment and financing, better play the role of "test field".

Some people say that "Technology 100" is the best gift to the Chinese capital market in the year of its establishment. Let us use a set of data to explore the scientific and technological success of these 100 companies:

In terms of geographical distribution, the registered locations of these 100 science and technology board listed companies are mainly concentrated in the five provinces and cities of Guangdong, Jiangsu, Beijing, Shanghai and Zhejiang. Among them, there are 17 in Beijing, 18 in Guangdong, 17 in Jiangsu, 16 in Shanghai, and 10 in Zhejiang. In terms of industry distribution, the industries in which science and technology board listed companies are located are highly concentrated in high-tech industries and strategic emerging industries, with leading industries in subdivided industries.

Among them, the new generation of information technology and biomedicine accounted for more than 60%, 39 and 25 respectively, and there were 15, 12 and 9 companies in the high-end equipment, new materials and energy conservation and environmental protection industries, respectively. In terms of R & D strength, the average R & D investment of 100 science and technology companies accounted for nearly 12% of operating income, the average number of patents totaled more than 200, and high-end core technical personnel accounted for about 60%.

In terms of market value, these companies have a total market value of more than 130 million yuan, of which Jinshan Office and Lanqi Technology are among the 100 billion market value camps, ranking 43rd and 52nd among all Shanghai stock companies. This is a beautiful "transcript" handed over 188 days and nights. The science and technology board now runs rationally and steadily, and investors' sense of gain gradually increases.

Taking the science and technology innovation board as a mirror, we ventured into the "deep water zone" of the capital market system. As one of the important measures for financial supply-side reform, since the establishment of the Science and Technology Board, aura and pressure coexist, and responsibility and mission are shared. Lanlu Lan, the Qishan forest, and the registration system reform with information disclosure as the core gave the market the right to choose and also withstood the test of the market.

Up to now, a total of 260 companies have applied for listing on the Science and Technology Board, and the registration results of 111 companies have been released. The success of the reform is not limited to the spectacular achievements at hand, but also to form a replicable and expandable experience, and lead the Chinese capital market to a new journey of comprehensively deepening reform through incrementally driving stocks.

Recently, the China Securities Regulatory Commission issued the "Management Measures for the Initial Public Offering of Stocks on the Growth Enterprise Market (Trial) (Draft for Comment)" and other four supporting measures for consultation, and the Shenzhen Stock Exchange also issued the "Shenzhen Stock Exchange GEM Stock Issuance and Listing Rules (Consultation Draft) and other seven supporting rules for consultation drafts, the preliminary construction of the GEM "4 7" type stock issuance registration system has fully confirmed the successful practice of GEM's absorption of the pilot registration reform of the Science and Technology Board, A lot of institutional reference was made to the Science and Technology Innovation Board, while retaining the characteristics of the GEM positioning.

We have reason to believe that under the general keynote of the full implementation of the registration system under the new Securities Law, the future of the “upgrade” of the system of the main board, small and medium board and the new three board will also contain the genes of the science and technology board-this is the science and technology innovation The great wisdom of the board is also the big pattern of the Shanghai Stock Exchange.

Take the science and technology innovation board as the source and attract the high quality of the living water in the capital market. Is the threshold for the application of the science and technology board high? very high. Is the audit process of the Science and Technology Board strict? Quite strict. Will the board be fast? Very fast.

From the positioning of the plate facing the world's technological frontier, the main battlefield of the allergy economy, and facing the country's major needs, to the introduction of the "3 5" science and technology board science and technology attribute evaluation guidelines, the gradual quantification of the science and technology rate makes the science and technology signboards shine brighter and brighter. .

Of course, we also need to rationally realize that a new sector with the mission of the “bull nose” of China ’s capital market reform will inevitably fall into a state of “altitude overwhelming cold” in the early stages of growth. In addition to sticking to the position of the science and technology gold plate, heavier weight may be the development direction of the science and technology board in the future.

The Science and Technology Board is very inclusive and covers six strategic emerging industries. It is the first to allow red chip architecture, differentiated voting, and unprofitable companies to list, hold the "aircraft carrier", and also favor small and medium enterprises;

At the same time, it also has an obvious exclusivity, saying "no" to companies with weak science and technology attributes or that do not meet the guidelines, and politely declines all kinds of investors who are only mature and speculative.

It is precisely because of this firm original intention, sticking to the positioning, and abandoning the concept of "it is a dish that is pulled into the basket", it has consolidated the cornerstone of today's science and technology board to activate the positive energy of the market and drive the development of cardiotonics for the help of more hard technology companies. The enhancement of soft power in the capital market creates a dynamic and resilient financing platform.

The Science and Technology Board aims to build a "national team" that can compete with the world's top technology companies, support the "test-free" strong Hengqiang, give "excellent students" room to rise, and encourage "medium students" to catch up. Looking forward to more invisible champions and industry leaders landing on the Shanghai Stock Exchange as soon as possible.

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