上交所发布“科创成长层指引”，32家存量未盈利企业即日进入“成长层”

Group 1 - The Shanghai Stock Exchange has officially released the "Guidelines for Self-Regulatory Supervision of Listed Companies on the Sci-Tech Innovation Board No. 5 - Sci-Tech Growth Tier" to deepen the reform of the Sci-Tech Innovation Board [1] - The reform does not impose additional listing thresholds for unprofitable companies entering the Sci-Tech Growth Tier, allowing 32 existing unprofitable companies to enter immediately upon the implementation of the guidelines [1] - New unprofitable companies will enter the Sci-Tech Growth Tier from the date of their listing, while the delisting conditions for existing companies remain unchanged, requiring the first profit after listing [1] Group 2 - The stock abbreviation for the Sci-Tech Growth Tier will now include a special identifier "U" to help investors distinguish between existing and newly registered stocks [2] - The guidelines emphasize risk-oriented information disclosure, requiring companies to disclose risks related to unprofitability and technology development in their annual reports and interim announcements [2] - There are no new trading thresholds for individual investors, maintaining the existing requirement of "500,000 yuan in assets + 2 years of experience" [2] Group 3 - The IPO pre-review mechanism for high-quality technology companies is an important innovation aimed at improving the quality of application documents and the overall efficiency of the stock issuance and listing review process [3] - The Shanghai Stock Exchange will focus on accurately grasping applicable scenarios, improving application document quality, standardizing pre-review procedures, and enhancing information disclosure management [3]