科创板精准激活上市公司创新活力

Group 1 - The core viewpoint is that the "light asset, high R&D investment" recognition standard is beneficial for semiconductor companies like Chip Origin Technology, allowing them to allocate funds more flexibly towards IP development projects, which aligns with their focus on high R&D investment in semiconductor IP technology [1][2] - Chip Origin Technology plans to use 64.89% of the raised funds for uncertain R&D expenditures, including salaries for IP R&D personnel and IP acquisition costs, highlighting the company's commitment to continuous investment in semiconductor technology [1] - The introduction of the "light asset, high R&D investment" standard is expected to alleviate financing difficulties for technology innovation enterprises, enabling them to better plan their financing methods and scales according to their development strategies and funding needs [1][2] Group 2 - Since 2025, there has been a significant increase in the acceptance of refinancing applications across the market, creating a positive cycle of "policy dividend release - case demonstration driving - market heat rising" [2] - More companies on the Sci-Tech Innovation Board are considering utilizing the "light asset, high R&D investment" recognition standard, which is particularly applicable to sectors like biomedicine, semiconductors, software, and some high-end equipment manufacturing [2] - Currently, over 100 companies on the Sci-Tech Innovation Board meet the "light asset, high R&D investment" criteria, but only 9 companies have attempted to utilize this new refinancing regulation, indicating a cautious approach among enterprises regarding their financing plans [2]