科创板科创成长层首批新注册公司上市 推进新一轮资本市场改革开放 服务新质生产力发展迈出新步伐

Core Points - Three unprofitable companies, He Yuan Bio, Xi'an Yicai, and Bibet, officially listed on the Sci-Tech Innovation Board, marking the first batch of new registered companies in the Sci-Tech Growth Layer [1][2] - The stocks of these companies surged by 213.49%, 198.72%, and 74.41% respectively by the end of trading [1] - The listing is seen as a significant step in promoting innovation in the biopharmaceutical industry and accelerating the industrialization process of these companies [1][2] Group 1: Policy and Market Context - The China Securities Regulatory Commission (CSRC) announced the "1+6" policy on June 18, establishing the Sci-Tech Growth Layer to support technology-driven companies that are currently unprofitable but have significant breakthroughs and commercial potential [2] - This marks the first time in over two years that unprofitable companies have entered the domestic capital market [2] - The new policies have opened doors for various companies to leverage capital for accelerating technology transformation and enhancing industrial capabilities [2] Group 2: Company Insights - He Yuan Bio's chairman expressed that listing on the Sci-Tech Innovation Board is a leap in development, enabling faster industrialization and attracting high-end technology talent [2] - The company has achieved a breakthrough from 0 to 1 in its development but requires more capital to scale from 1 to 100 in commercialization [2] Group 3: Market Evolution - The introduction of the Sci-Tech Growth Layer reflects a shift in the capital market's focus from serving mature enterprises to nurturing future companies, indicating a change in the value orientation of listings from profitability to future potential [3] - The Sci-Tech Growth Layer now includes 35 companies, with existing companies showing progress in reducing losses and increasing revenue since their listings [3] Group 4: Future Directions - The Shanghai Stock Exchange aims to enhance its role as a "testing ground" for reforms, improving the identification of quality tech companies and supporting various high-tech sectors [5] - The CSRC is planning to implement a new round of capital market reforms to enhance inclusivity, adaptability, and competitiveness, better serving the goals of the 14th Five-Year Plan and the construction of a financial power [5]