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科创板新五套标准
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重启五套标准后,最有可能上市的公司有哪些?
FOFWEEKLY· 2025-06-18 09:26
Group 1 - The core viewpoint of the article is that the reintroduction of the "new five standards" on the Sci-Tech Innovation Board (科创板) presents new IPO opportunities for sectors such as artificial intelligence, commercial aerospace, and low-altitude economy [3][5]. - The "new five standards" will create a "Sci-Tech Growth Layer" aimed at companies with significant technological breakthroughs, substantial R&D investment, and broad commercial prospects, which may currently have small revenue scales or weak profitability [6][7]. - The new standards will require companies to have "senior professional institutions" as investors and will introduce a pre-IPO review mechanism for eligible companies [7][8]. Group 2 - The new standards will expand the scope of applicable companies beyond biomedicine to include more frontier technology sectors, although specific review criteria are still pending [7][8]. - The IPO review speed will not accelerate, as companies will be allowed to raise funds from existing shareholders during the review process, which may lead to a more flexible financing environment for unprofitable companies [8][9]. - The third set of standards for the ChiNext board (创业板) will also support the listing of quality unprofitable innovative companies, with potential distinctions based on industry, R&D, personnel, and revenue [9]. Group 3 - The first batch of companies likely to list under the new standards may come from previously rumored "green channel companies" on the Sci-Tech Innovation Board, with a focus on digesting existing applications under the old standards [11].