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Core Viewpoint - The article discusses the characteristics, applicability, and disclosure requirements of companies in the Sci-Tech Innovation Board's growth tier, emphasizing support for technology-driven firms that are not yet profitable but have significant potential for breakthroughs and market expansion [4][5][6]. Group 1: Characteristics of Sci-Tech Innovation Board Growth Tier Companies - Companies in the growth tier are defined as technology-oriented firms that have made significant technological breakthroughs, possess broad commercial prospects, and maintain substantial R&D investments, while still being in a pre-profit stage at the time of listing [4]. Group 2: Applicability of the Growth Tier - The growth tier applies to both existing Sci-Tech Innovation Board companies that have not yet turned a profit (referred to as existing companies) and newly registered companies that are also unprofitable at the time of listing (referred to as incremental companies) [5]. Group 3: Criteria for Removal from the Growth Tier - The removal criteria for incremental companies are based on achieving profitability, specifically: (1) both of the last two years must show positive net profits with a cumulative net profit of no less than 50 million yuan, or (2) the last year must show a positive net profit with revenues of no less than 100 million yuan. Existing companies will only be removed upon achieving profitability for the first time after listing [6]. Group 4: Investor Awareness of Removals - Investors can learn about a company's removal from the growth tier through the annual report, where companies must disclose their compliance with the removal criteria. Additionally, the stock or depositary receipt will lose its special identifier "U" if removed from the growth tier [8]. Group 5: Trading Considerations for Investors - Investors participating in trading of newly registered growth tier stocks must sign a special risk disclosure document. Existing stocks or depositary receipts are not subject to this requirement [9]. Group 6: Disclosure Requirements for Growth Tier Companies - Companies in the growth tier face stricter disclosure requirements, particularly regarding the reasons for not being profitable and the impact on the company, which must be highlighted in the annual report. Continuous supervision by sponsoring institutions is mandated to ensure compliance with these disclosure obligations [10][11].