上交所发布科创板及主板高研发投入认定标准指引

Core Viewpoint - The Shanghai Stock Exchange has released a draft guideline for the recognition standards of light asset and high R&D investment companies, outlining specific criteria for companies listed on the Sci-Tech Innovation Board and the Main Board [1] Group 1: Criteria for Sci-Tech Innovation Board - Companies listed on the Sci-Tech Innovation Board can be recognized as having high R&D investment characteristics if they meet the following criteria: 1. The average R&D investment over the last three years accounts for no less than 15% of operating revenue, or the cumulative R&D investment over the last three years is no less than 300 million yuan 2. The proportion of R&D personnel to total employees in the last year is no less than 10% [1] Group 2: Criteria for Main Board - Companies listed on the Main Board can be recognized as having high R&D investment characteristics if they meet one of the following criteria: 1. The average R&D investment over the last three years accounts for no less than 15% of operating revenue 2. The cumulative R&D investment over the last three years is no less than 300 million yuan, and the average R&D investment over the last three years accounts for no less than 5% of operating revenue [1]