"Small And New Faces" Enterprises Enter The Gem

Promoting the listing of lower standard enterprises, the Shenzhen Stock Exchange urged small and new faces to enter the gem.

In March 27th, Chen Hongqiao, deputy general manager of Shenzhen stock exchange, proposed that the capital market absorb the "Nanshan plate" across the one hundred high-end forum. New formats and Innovative enterprises In the face of new demand, we appeal to companies that meet second sets of low standards of gem, and companies like Internet, service industry and venture capital.

"From the rise of Nanshan plate, we can see that the fundamental conditions of China's economic transformation are undergoing major changes, and the capital market is facing new demands in attracting new businesses and innovative enterprises."

At present, gem sponsors are not active in recommending "small, new and healthy faces" enterprises. "It is often possible that such enterprises can better reflect the characteristics of gem supporting entrepreneurship and innovation."

Two sets of admittance Profit standard Refers to: the company has made continuous profit in the past two years. The net profit in recent two years has accumulated not less than 10 million yuan, and has continued to grow. Or, in recent year, the net profit is not less than 5 million yuan, and the net income is not less than 5 million yuan. The operating income of the recent year is not less than 50 million yuan, and the operating income growth rate in recent two years is no less than 30%. The above two conditions meet their requirements.

Facing the ever-changing innovation activities, we also need to learn how to adapt the system to the new needs of emerging industries, that is, "production relations adapt to productivity". 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.

It is suggested that the capital market system innovation be promoted 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 recommending sponsors. Finally, we will improve the legal level from the Future Ltd law and the securities law.

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