科创板引入资深专业机构投资者制度 设置了主体、投资经验、持股比例等多重认定标准

Group 1 - The core viewpoint of the news is the introduction of a system for seasoned professional institutional investors in the Sci-Tech Innovation Board, aimed at enhancing the identification of quality technology enterprises [1][2] - The new guidelines allow companies applying under the fifth set of listing standards to self-identify seasoned professional institutional investors and disclose this information in their prospectus [1][2] - The guidelines consist of 13 articles detailing the applicable scenarios, recognition standards, review references, and related responsibilities of seasoned professional institutional investors [2][3] Group 2 - The recognition standards specify that eligible investors must have a sound governance structure, manage substantial assets, and possess a good credit record, among other criteria [3] - The investment experience requirement states that institutions must have invested in at least five technology companies that have listed on the Sci-Tech Innovation Board or ten on major domestic and international exchanges in the past five years [3] - The guidelines clarify that the involvement of seasoned professional institutional investors serves as a reference for the review process but does not constitute a new listing requirement [2][3] Group 3 - The introduction of this system is part of a broader effort to leverage diverse investment entities, such as government investment funds and private equity firms, to support technology enterprises at various stages [4] - Approximately 90% of companies listed on the Sci-Tech Innovation Board received private equity investment prior to their listing, indicating a strong reliance on institutional support [4] - The Shanghai Stock Exchange aims to combine market wisdom with government initiatives to better serve the development of high-level technological self-reliance and new productive forces [5]