科创板向新提质

Group 1 - The core viewpoint of the news is that the recent listing of Strong Semiconductor (Suzhou) Co., Ltd. has brought the total number of companies on the Sci-Tech Innovation Board to 600, with a total market value exceeding 10 trillion yuan and total fundraising surpassing 1.1 trillion yuan, indicating the board's significant growth and reform progress [1] - The Sci-Tech Innovation Board primarily serves "hard technology" enterprises that align with national strategies and have high market recognition, establishing a diverse and inclusive listing system since its inception in 2019 [2] - As of now, the 600 listed companies cover high-tech industries such as new generation information technology, biomedicine, high-end equipment, new energy, and new materials, with 70% of these companies recognized as national-level specialized and innovative "little giant" enterprises [2] Group 2 - The board has supported 61 unprofitable companies and 9 with special equity structures, with 22 unprofitable companies achieving profitability post-listing, showcasing the board's role in nurturing "hard technology" enterprises [5] - The compound annual growth rates for revenue and net profit attributable to shareholders of Sci-Tech Innovation Board companies have reached 19% and 8%, respectively, over the past five years [5] - The board's research and development investment reached 132.86 billion yuan in the first three quarters of 2025, which is 2.7 times the net profit of the board, indicating a strong focus on R&D as a growth driver [5] Group 3 - The development of the Sci-Tech Innovation Board has played a crucial role in facilitating the "technology-industry-capital" cycle, promoting the integration of innovation chains, industry chains, and capital chains [6] - Approximately 90% of Sci-Tech Innovation Board companies received venture capital investment before going public, indicating a strong trend towards early investment in hard technology [7] - The board has established a comprehensive index system with 33 indices and over 100 ETFs, with a total scale of index tracking products exceeding 310 billion yuan [7] Group 4 - The board's reforms have led to over 160 new industry mergers and acquisitions, with disclosed transaction amounts exceeding 49 billion yuan, reflecting an increase in corporate quality and activity [7] - The acceptance of innovative companies with unprofitable and special equity structures has created an efficient risk pricing and sharing market, enhancing the board's inclusivity and adaptability [8] - The board's initiatives encourage a virtuous cycle of capital injection, technology iteration, industry maturity, and capital appreciation, improving the precision of resource allocation in the capital market [8]