Group 1 - The core viewpoint of the news is the introduction of a new policy aimed at supporting small and micro enterprises in financing, which establishes a "New Third Board listing - Beijing Stock Exchange listing" gradient cultivation system, providing new pathways for innovative SMEs to access capital markets [2] Group 2 - The policy explicitly supports equity financing for small and micro enterprises, creating a substantial pool of quality companies for the Beijing Stock Exchange [3] - In 2024, the New Third Board saw 133 new listed companies, a year-on-year increase of 40%, with a total of 1,058 new companies listed over the past three years, serving as a vital resource for the Beijing Stock Exchange [3] - The revenue of New Third Board listed companies reached 1.71 trillion yuan, with a net profit of 655.81 billion yuan in 2024, and nearly half of the companies reported profit growth, with 20% experiencing growth rates exceeding 50% [3] - Companies preparing for listing on the Beijing Stock Exchange showed impressive performance, with compound annual growth rates of 9.76% in revenue and 7.56% in net profit over the past two years, with 47% classified as national-level specialized and innovative "little giants" [3] Group 3 - The "New Third Board - Beijing Stock Exchange" linkage effect is continuously strengthening, with companies able to apply for listing on the Beijing Stock Exchange after 12 months of being listed on the New Third Board [4] - The direct connection review mechanism has significantly shortened the listing cycle for quality companies to 1-2 months, enhancing review efficiency [4] - This mechanism allows for a tiered cultivation approach, where companies first operate in a regulated manner on the New Third Board before transitioning to the Beijing Stock Exchange [4] Group 4 - The policy effects are reshaping the industrial ecosystem, with capital extending towards the front end of the innovation chain, creating a virtuous cycle of "investment - cultivation - exit" [5] - In 2024, financing for strategic emerging industries on the New Third Board accounted for 38% of total financing, an increase of 7 percentage points from the previous year [5] - Recommendations for further reform include establishing a "Beijing Stock Exchange preparatory layer" in the innovation tier, improving intermediary service systems, and enhancing policy collaboration to support listed companies [5] - A new ecosystem for innovative enterprise growth is forming, centered around the New Third Board and the Beijing Stock Exchange, which will inject new momentum into China's high-quality economic development [5]
政策松绑拓宽股权融资通道,新三板北交所携手打造专精特新企业上
Sou Hu Cai Jing·2025-05-23 06:38