Can the Science and Technology Board of Lightning Flight become the Chinese version of

Hong Kong 01 Views

The Chinese science and technology board rules were introduced. From the comments to the release of formal rules, it took only more than a month to high efficiency, indicating that the relevant departments attach importance to the science and technology board, and the determination to accelerate the capital market reform.After the rules landed, the first batch of companies applying for science and technology boards will appear as soon as possible, and it is expected to officially open in the second half of the year.

The rules have just been introduced. It is too late if the company has started to be listed recently. Therefore, the first batch of science and technology board companies can be expected to be innovative enterprises that have a mature, well -known, and they already have a planned listing.The first batch of enterprises listed on the science and technology board must be the focus of the magnesium light, and it is of great significance to become the first batch of companies.

As for what kind of enterprise can go to the science and technology board?The latest guidance of the Shanghai Stock Exchange lists three types of enterprises, including scientific and technological innovation companies that meet national strategies, break through key core technologies, and high market recognition.And the seven areas, including new generation of information technology such as semiconductors and AI, high -end equipment, new materials, new energy, and biomedical fields.

The market has high hopes for the science and technology board, and even the name of China Nasdaq. In fact, China Nasdaq has been launched as early as 10 years ago.Fundamental differences, reviewing the GEM market established in the Shenzhen Stock Exchange in 2009, one of which is in the start -up period, small -scale, but good growth, but high -tech enterprises provides financing opportunities, but the IPO conditions stayListed companies must have profitable thinking.

This has led to the market that is easy to miss some truly innovative giant companies. It is probably failed to bear this heavy responsibility to the state that emphasizes the development of the country by the country to drive economic development.In fact, no matter whether it is Alibaba, Tencent, Baidu, and Meituan, JD.com, which have been listed in recent years, can meet the requirements of the current GEM. Without the support of the capital market, it is difficult for innovative companies to develop rapidly.

Therefore, the significance of the existence of science and technology board lies in this. Thinking is no longer profitable. As an independent plate, walking with two legs with the motherboard and GEM, there is no claim to snatch GEM resources.In addition, the science and technology board allows the same stocks and VIE companies to go public. It will create a return channel for Chinese stocks that are listed overseas. It will help encourage science and technology enterprises to go public in China, make big cakes, and develop in the long run.The target of the challenge is Nasdaq, which has been developing for a long time.

However, the business model of science and technology enterprises is generally relatively novel, with a large profitability, and its operating risks are relatively higher than that of traditional enterprises.For example, technology companies listed on Nasdaq in the United States are not like expected when the profit of new products or new services launched in a certain year is not surprising.From the perspective of issuance conditions, because there is no profit for listed companies to make a profit, in order to increase the possibility of listing more technology companies, the market will fluctuate in the lack of pricing reference.

Li Chao, the vice chairman of China Securities Regulatory Commissioner, said recently that the science and technology board has strict standards and procedures and focuses on market mechanisms, but it does not rule out that individual companies have fluctuated in the initial stock price. It is hoped that investors will give more tolerance and tolerance.Indeed, when the market tends to be pessimistic, some high -tech companies that have been questioned by their profits can easily become the targets of selling.Only after wind and rain can it highlight its own value.