上交所副总经理王泊最新发声

Group 1 - The Science and Technology Innovation Board (STAR Market) has gathered 589 listed companies with a total market value exceeding 9 trillion yuan, showcasing strong technological capabilities [1] - Since its inception in 2019, the STAR Market has evolved into a demonstration area for technological innovation, focusing on "hard technology" and forming a significant "chain-cluster" development pattern [2] - The STAR Market has 120 companies in the integrated circuit sector, covering over 60% of the A-share industry, and 113 companies in biomedicine, making it a key listing venue for global biomedicine after the US and Hong Kong [2] Group 2 - In the first half of 2025, STAR Market companies invested a total of 84.1 billion yuan in R&D, which is 2.8 times their net profit, with a median R&D investment ratio of 12.61%, the highest in the A-share market [2] - The STAR Market has implemented a "quality improvement and efficiency enhancement" initiative, significantly benefiting both financing and investment sides, with over 280 billion yuan in index tracking products [3] Group 3 - The STAR Market's inclusive system design allows unprofitable companies and those with special equity structures to access the capital market, enhancing its vitality [4] - The newly introduced "1+6" policy aims to support technology-driven companies, allowing them to enter the market without waiting for profitability, with 15 new IPO applications received since its launch [4] Group 4 - The STAR Market has tailored a "growth toolbox" to support companies throughout their lifecycle, with the "K8 Reform" proposing 35 measures to improve M&A efficiency for tech firms [5] - Since the release of the "K8 Reform," 134 new M&A transactions have been disclosed, with a total transaction value exceeding 40 billion yuan, surpassing the total of the past five years [6] Group 5 - The Shanghai Stock Exchange has developed a comprehensive service model to support companies at all stages of development, including on-site supervision and customized training [7] - The STAR Market has facilitated numerous significant achievements, referred to as "DeepSeek moments," highlighting its role in fostering innovation and technological breakthroughs [7]