The full name of science and technology innovation board is "science and technology innovation board". Its history can be traced back to three years ago, and it is the established content of the 20 15 plan to promote "multi-level capital market". 2065438+0515 On February 22nd, Beijing launched the "Four New Boards" to promote the reform and innovation of technology and finance on the basis of pilot projects. Considering the need of radiating the whole country, it was renamed as "Science and Technology Innovation Board" and registered in Shanghai Stock Exchange Center, dedicated to serving small and medium-sized scientific and technological innovative enterprises. The science and technology innovation board focuses on science and technology innovation enterprises. Originally named "New Fourth Board". Considering the need of radiating the whole country, it will be renamed as "Science and Technology Innovation Board" and will land in Shanghai Equity Exchange Center. At present, there are "E board" and "Q board" in the center, so the science and technology innovation board is also called "N board". At present, all 4,500 enterprises of Q board can transfer to science and technology innovation board. The fourth board market refers to Beijing Equity Exchange Center Co., Ltd., a regional equity exchange market platform in Beijing. 20 13 was launched in February, which is a private equity market providing equity, bond transfer and financing services for enterprises in the region. Beijing Enterprise Credit Information Network shows that the registered capital of Beijing Equity Exchange Center is 200 million yuan.
Growth enterprise market, also known as the second board market, is a kind of securities market different from the main board market. It is a securities market that provides financing channels and growth space for entrepreneurial enterprises, small and medium-sized enterprises, high-tech industrial enterprises and other enterprises that need financing and development. It is an important supplement to the main board market and plays an important role in the capital market. The market code of China Growth Enterprise Market starts with 300.
Impact 1: Transfer
Because there is little difference in positioning between the two companies, science and technology innovation board is bound to divert the companies listed on the Growth Enterprise Market, that is to say, enterprises that originally planned to list on the Growth Enterprise Market are likely to switch to science and technology innovation board.
Even if the system allows, some technological innovative enterprises originally listed on the GEM will consider switching to venture capital board, which will have some impact on the number of listed companies on the GEM.
Impact 2: Valuation
At present, there are many so-called "shell companies" on the GEM with poor quality, waiting for other unlisted companies to reorganize.
Many unlisted companies can't go public because of the profit requirements of the GEM, so they can only choose to buy shell companies that have been listed on the GEM, and now they have another choice, science and technology innovation board, because the latter has lower requirements for profit and registration.