优化国资投资考核机制 支撑硬科技企业长期发展

Core Viewpoint - Shenzhen's state-owned assets play a crucial role in supporting technological innovation and nurturing hard-tech enterprises, with a call for optimizing investment assessment mechanisms to align with the long-term development needs of these companies [1][2]. Group 1: Current Challenges - The existing investment assessment mechanism primarily relies on short-term financial indicators such as "net profit" and "listing time," which do not align with the long-cycle, high-investment, and slow-return nature of hard-tech enterprises [1]. - In the current economic environment, with narrowed listing channels and a cooling market for financing, some companies face pressure for equity buybacks due to unmet performance targets, hindering their ongoing R&D and long-term development [1]. Group 2: Proposed Solutions - Suggestions include the formulation of guidelines for assessing and exiting investments in hard-tech enterprises, eliminating mandatory performance clauses related to "net profit growth rate" and "listing time," and establishing a long-term assessment system focused on patent quality, ecosystem development, and technological milestones [2]. - Optimizing the exit mechanism for state-owned investments is recommended, allowing for negotiation to extend holding periods or adjust assessment targets for companies that do not meet original exit conditions due to market or technological cycles, thus avoiding forced equity buybacks during difficult times [2]. - Encouragement for state-owned assets to build a post-investment empowerment system, facilitating connections between enterprises and industry chain resources, opening application scenarios, and participating in standard-setting, with the effectiveness of these connections included in the assessment of state-owned assets [2].