Core Insights - The global landscape is undergoing significant adjustments, with a new wave of technological revolution and industrial transformation accelerating, making small and medium-sized enterprises (SMEs) crucial for economic resilience and innovation [1][4] - The "NEXT20" initiative aims to identify and evaluate the growth potential of SMEs in the A-share market, showcasing companies with strong technological innovation capabilities and stable development potential [1][2] Group 1: NEXT20 Initiative - The "NEXT20" initiative, launched by First Financial, Ernst & Young (China), and Xiya Asset Management, focuses on the growth potential of SMEs in the capital market [1][2] - The evaluation process involves multiple rounds of selection, including data screening, quantitative scoring, and expert voting, resulting in a shortlist of 68 companies for further assessment [2][8] - The first round of the "NEXT20" evaluation demonstrated that the selected companies outperformed the market in key financial metrics such as earnings per share and return on investment [3] Group 2: Evaluation Process and Criteria - The evaluation criteria for the 2025 "NEXT20" initiative have been adjusted based on the previous year's macroeconomic and capital market performance, ensuring relevance and accuracy [2][7] - The selection process includes a rigorous data screening mechanism, focusing on quantitative indicators like revenue growth rate, gross margin, net margin, and return on equity [7][8] - The evaluation team emphasizes the importance of long-term tracking and a comprehensive research system for SMEs to enhance market influence and provide valuable insights for future economic development [6][7] Group 3: Industry Perspectives - Industry leaders express a strong commitment to supporting the growth of SMEs, highlighting their role in enhancing industrial structure and releasing innovation potential [4][6] - The initiative aims to create a collaborative ecosystem for SMEs, fostering partnerships and resources to aid in their development during times of economic transition [3][4] - Experts suggest that the evaluation framework should incorporate qualitative factors such as management quality and corporate governance to better assess the long-term growth potential of SMEs [6][7]