支持优质商业火箭企业登陆科创板

Core Viewpoint - The Shanghai Stock Exchange has released guidelines to support commercial rocket companies in applying for the Sci-Tech Innovation Board, particularly under the fifth set of listing standards, during a critical period of commercialization [1][2]. Group 1: Technical Requirements - The guidelines specify that commercial rocket companies must have a clear focus on "independent research, manufacturing, and launch services for commercial rockets," emphasizing their "hard technology" attributes [1]. - Companies are required to demonstrate significant technological advantages or breakthroughs based on key core technologies, including the development of core technology products and critical components, as well as key performance indicators like payload capacity and multi-satellite launch capability [1]. - Companies involved in national tasks or projects will receive priority support [1]. Group 2: Milestones and Approvals - Companies must achieve a milestone of successfully launching a medium to large reusable rocket with payload into orbit before applying, ensuring no major adverse technical issues affect their ability to undertake launch tasks [1][2]. - It is mandatory for companies to obtain relevant approvals from national authorities during the research and manufacturing process of commercial rockets, and to secure launch permits prior to any commercial rocket launches [1]. Group 3: Market Positioning - The guidelines require that commercial rocket companies hold a leading position in the market and have significant recognition from relevant market entities [2]. - Companies must have a clear target market for their commercial rocket business or products, demonstrating a first-mover advantage over competitors, and be ahead in terms of R&D progress and key performance indicators [2]. - A clear and feasible commercialization plan must be established for the transition from technology validation to large-scale operations [2]. Group 4: Future Directions - The Shanghai Stock Exchange aims to leverage these guidelines to promote the listing of commercial rocket companies on the Sci-Tech Innovation Board, enhancing support for technology-driven enterprises that break through key core technologies [2].