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 and operational guidelines of the "Science and Technology Innovation Board Growth Layer," which aims to support unprofitable but promising technology companies in their development [5]. Group 1: Introduction to the Growth Layer - The "Science and Technology Innovation Board Growth Layer" was officially established on July 13, 2025, by the Shanghai Stock Exchange, marking a significant step in supporting technology enterprises that are not yet profitable but have strong growth potential [5]. - This layer is designed to enhance the inclusivity for technology companies with promising futures, allowing them to access capital markets more easily [9]. Group 2: Accessing the Growth Layer - Investors who already have trading permissions for the Science and Technology Innovation Board 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 trading permissions for the Science and Technology Innovation Board, they must first meet the basic requirements and then sign the risk disclosure statement to participate in trading [11]. Group 3: Requirements for Investors - Personal investors must meet several criteria to open trading permissions, 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 the Science and Technology Innovation Board [12]. - Investors must also demonstrate strong risk tolerance and risk control capabilities, with a minimum assessment result of C4 (active) [12]. Group 4: Identification of Growth Layer Stocks - Stocks of companies listed on 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 them [17].