Venture(US:VEMLY) Mei Ri Jing Ji Xin Wen·2025-07-16 04:32Group 1 - The core viewpoint of the article highlights the deepening reform details of the Sci-Tech Innovation Board, which address the pain points of listing for tech companies and enhance the capital market's inclusivity and adaptability towards technological innovation and new productive forces [1] - The reform clarifies the delisting standards for the Sci-Tech Growth Layer, implementing a "new and old distinction" for existing unprofitable companies, while the delisting conditions for newly registered companies are raised to meet the first set of listing standards of the Sci-Tech Innovation Board [1] - As of July 14, 13 unprofitable companies are already in the IPO queue, indicating an expected increase in unprofitable tech companies applying for IPOs following the reform [1] Group 2 - The reform encourages experienced institutional investors to participate, requiring them to have rich investment experience and long-term holding capabilities to better identify growth potential companies [1] - The pre-review mechanism is expected to enhance review efficiency, potentially shortening the review cycle and attracting more tech companies to apply for IPOs on the Sci-Tech Innovation Board [1] - The Sci-Tech Innovation and Entrepreneurship ETF tracks the Sci-Tech Innovation and Entrepreneurship 50 Index, which can have a daily fluctuation of up to 20%, reflecting the overall performance of listed companies in China's tech innovation sector [1]