北交所存量上市公司证券代码切换试点，开启“920”代码时代

Core Viewpoint - The Beijing Stock Exchange (BSE) has officially launched the pilot program for switching the stock codes of existing listed companies to the new 920 code series, enhancing the recognition and identification of BSE-listed companies [1][4]. Group 1: Implementation of Code Switching - The pilot program for code switching began on May 6, 2023, with six companies participating, including YingTai Bio, AiRong Software, and others, transitioning from their original codes to the new 920 codes [1]. - The BSE has accelerated the pace of code switching for existing listed companies throughout 2023, with significant milestones including the announcement of the code switching for 248 companies in December 2024 [2]. Group 2: Strategic Approach - The code switching strategy employs a "one body promotion, pilot first" approach, ensuring comprehensive planning and risk assessment before expanding the program to all listed companies [3]. Group 3: Market Impact - The introduction of the 920 code series is expected to improve the identification and recognition of BSE-listed companies, reducing confusion caused by previous codes from the New Third Board [4]. - The transition to the 920 code is seen as a significant step in establishing the BSE's market position, differentiating it from the New Third Board and attracting more investors [4][5]. - The new code system is anticipated to create a more independent trading environment for the BSE, aligning trading habits with those of the Shanghai and Shenzhen markets, thus facilitating better valuation assessments by investors [5].