从0到9000亿：创新型中小企业在北交所驶上“快车道”

Core Insights - The Beijing Stock Exchange (BSE) has achieved significant growth in its fourth year, with the number of listed companies reaching 274 and a total market capitalization exceeding 900 billion yuan, reflecting a robust development momentum [1] Group 1: Market Growth and Development - As of September 1, the BSE has listed 274 companies, a 9.16% increase from 251 companies at the third anniversary [1] - The total market capitalization of the BSE has surpassed 911.65 billion yuan, indicating a thriving market environment [1] - High-tech enterprises constitute over 82% of the listed companies, with 149 national-level "little giant" enterprises, accounting for 54.38% [1] Group 2: Support for Innovation and SMEs - The BSE has designed four sets of listing standards to cater to the diverse types and stages of development of SMEs, allowing unprofitable companies to go public [2] - As of now, 262 companies, or 95.62%, have listed under the first set of standards, while the other three sets have 7, 1, and 4 companies respectively [2] - The total R&D expenditure of listed companies is projected to reach 8.594 billion yuan in 2024, representing 4.56% of total revenue, with an average R&D investment of 31.4816 million yuan per company [1] Group 3: Mergers and Acquisitions - The BSE has introduced new mechanisms for mergers and acquisitions, including a "small-scale rapid" review process and simplified procedures for restructuring [3] - These mechanisms aim to enhance resource allocation and support high-quality development for listed companies [3] - As of August 25, there have been 33 significant investment and acquisition events disclosed on the BSE [3] Group 4: Investment Attraction - The BSE has seen an increase in cash dividends, with 249 instances of annual cash dividends in 2024, and only 21.9% of companies not distributing dividends [4] - The number of public funds investing in BSE stocks has grown by 31.82% year-on-year, with 39 funds reported in the first half of 2025 [4] Group 5: Future Outlook - The BSE aims to continue its reform and innovation efforts to enhance market functions and improve services for SMEs [5] - The ongoing reforms are expected to bolster the BSE's role in supporting technological innovation and nurturing specialized enterprises [5]