Gem Will Push The Listing Of Lower Standard Companies

　　 Shenzhen Stock Exchange Chen Hongqiao, deputy general manager, said yesterday that "the Nanshan plate" crosses the one hundred high-end forum of listed companies. According to the "IPO listing and listing management method", Shenzhen Stock Exchange's initial public offering and listing on the growth enterprise market require the issuer to have a certain profitability.

To adapt to different types of enterprises financing The gem requires two quantitative performance indicators for issuers to issue applicants: the first indicator requires the issuer to make continuous profits in the last two years, and the net profit in recent two years has accumulated at least ten million yuan, and has continued to grow. The second indicators require profit in the latest year, and the net profit is not less than five million yuan. The operating income of the latest year is not less than fifty million yuan. The growth rate of operating income in recent two years is no less than thirty percent.

Chen Hongqiao emphasized: at present, there are almost no second sets of standards for the growth and development of the second board, and the sponsors are not active in recommending "small, new and healthy faces".

Chen Hongqiao said that capital market absorbs new formats and innovative enterprises are also facing new demands. There are few leading enterprises in China's Internet subdivision, but few new enterprises are listed in China. The new Internet enterprises have begun to emerge and bring about changes in social and economic life. However, many enterprises still prefer to list overseas and have doubts about the listing of the domestic market. In addition, the service enterprises are relatively few and are not commensurate with the strategic position of the service industry. Manufacturing is still the main body of gem and small and medium-sized board companies.

Facing the ever-changing innovation activities, Chen Hongqiao pointed out that we need to learn how to adapt the system. Emerging industries New demand, that is, "productive relations adapt to productive forces". In his view, it is most important to give full play to the "expertise" of the capital market, grasp the essence and core value of innovation, and attach importance to the innovative enterprises that will have a significant impact on production activities, consumption patterns, business models, and the efficiency, quality, cost and safety performance of social and economic life.

Chen Hongqiao also suggested promoting capital market institutional innovation from three levels. First of all, we should consider improving and optimizing the ideas and processes of sponsorship under the existing legal and institutional framework. Secondly, we should transform and improve some existing regulations at the regulatory level, such as lowering the listing threshold and increasing the responsibility of sponsorship. Finally, we will improve the legal system from the perspective of Future Ltd law and securities law, and provide institutional and legal environment for the capital market to support entrepreneurial innovation more effectively.

Chen Hongqiao also put forward five specific points of experience, including not confined to mature industry and familiar concept of the sponsorship of manufacturing industry; it is not suitable to limit innovation to technological innovation or technological invention or patent; it is not suitable to stick to simple financial data or entangled in the details of operation; it is not suitable to judge innovative enterprises by mechanical, experiential and solidified thinking; it is not suitable for enterprises to deliberately change the existing practices in line with the normal operation requirements and laws in order to cater for listing.