每经热评︱深交所受理未盈利企业上市申请 资本赋能科技创新再启新程

Group 1 - The acceptance of Shenzhen Dapu Microelectronics Co., Ltd.'s IPO application by the Shenzhen Stock Exchange marks the official launch of the third set of standards for the ChiNext board, supporting high-quality, unprofitable innovative companies to go public [1] - The "1+6" series of policies announced by the China Securities Regulatory Commission at the Lujiazui Forum, particularly the resumption of listings for unprofitable technology and innovation companies, is a significant development opportunity for the capital market [1][2] - The establishment of the third listing standard is a proactive measure by the regulatory authorities to support the development of emerging industries and assist in the strategy of technological innovation [1][2] Group 2 - The new listing standard reflects a deep understanding of the growth patterns of technology companies, which typically have long R&D cycles and high capital investment [2] - The regulatory framework aims to create a virtuous cycle of "R&D investment - technological breakthroughs - market returns" for technology innovation enterprises, aligning with the strategy of innovation-driven development [2] - The acceptance of Dapu Microelectronics' application demonstrates a balance between inclusiveness and prudence in regulatory guidance, focusing on key sectors like artificial intelligence and commercial aerospace [2] Group 3 - The case of Dapu Microelectronics is expected to enhance the support and service capabilities of the capital market for technology innovation companies, attracting more tech-oriented firms and enriching the market's gene pool [3] - This initiative will encourage capital market intermediaries to improve their professional service standards to meet the new requirements for evaluating the value and risks of complex unprofitable companies [3] - Investors are anticipated to place greater emphasis on long-term value investment, enhancing their risk awareness and research capabilities, which will contribute to a more mature and vibrant capital market [3]