解锁科创板新地图：“科创成长层”开通攻略在此！

Core Viewpoint - The article discusses the launch of the "Science and Technology Innovation Growth Layer" on the STAR Market, aimed at supporting unprofitable but promising technology companies [5]. Group 1: Introduction to the Growth Layer - The "Science and Technology Innovation Growth Layer" was officially established on July 13, 2025, by the Shanghai Stock Exchange, marking a significant step in supporting the development of technology enterprises that are not yet profitable but have strong growth potential [5]. - This layer is designed to enhance the inclusivity of the STAR Market for technology companies with promising futures [9]. Group 2: Access and Participation - Investors who already have STAR Market trading permissions and have a risk tolerance assessment result of C4 (active) or above can trade stocks or depositary receipts listed after the new regulations are published, provided they sign a risk disclosure statement [7]. - For investors who have not yet opened STAR Market trading permissions, they must first meet the basic requirements and then sign the risk disclosure statement to participate in the trading of stocks or depositary receipts in the Growth Layer [11]. Group 3: Requirements for Investors - Personal investors must meet several criteria to open trading permissions for the STAR Market, including maintaining an average asset of no less than 500,000 RMB in their securities and funds accounts over the past 20 trading days, having at least 24 months of trading experience, and passing a knowledge test on STAR Market trading risks [12]. - Investors must also demonstrate strong risk tolerance and risk control capabilities, with a minimum risk tolerance assessment result of C4 (active) [12]. Group 4: Identification of Growth Layer Stocks - Stocks of companies in the Growth Layer will have a "U" identifier to indicate their unprofitable status, with new registered stocks labeled as "成" and existing stocks labeled as "成1" to differentiate between new and existing listings [17].