Core Insights - The Beijing Stock Exchange (BSE) is celebrating its fourth anniversary, having established itself as a key player in the multi-tiered capital market, focusing on serving innovative small and medium-sized enterprises (SMEs) [1][11] Market Growth - Over the past four years, the BSE has seen significant growth, with 282 listed companies and a total market capitalization exceeding 900 billion yuan, approaching the 1 trillion yuan mark [1][3] - As of November 13, 2023, the total market capitalization of listed companies on the BSE is approximately 912.58 billion yuan [3] - The number of listed companies has increased from 123 in 2022 to 282 in 2023, with 25 new listings in the fourth anniversary year [3] Company Performance - Among the listed companies, Beiterui leads with a market capitalization of 41.85 billion yuan, followed by Jinbo Biological at 27.42 billion yuan [3] - Jinbo Biological's stock price reached 238.31 yuan per share, marking it as one of the top-performing stocks [4][5] - The average revenue for BSE companies in the third quarter was 520 million yuan, reflecting a year-on-year growth of 6%, with 230 companies reporting profits [6][7] IPO Pipeline - Currently, there are 170 companies in the IPO pipeline for the BSE, indicating a robust interest in listing [8] - The IPO review process has accelerated, with multiple companies receiving approvals in recent weeks [9][10] Policy Support - The China Securities Regulatory Commission (CSRC) emphasizes the importance of the BSE in supporting innovative SMEs and plans to enhance its development [11][12] - The BSE has implemented various policies to improve market functionality and attract quality enterprises, including the introduction of the North Certificate Specialized Index [12] Investor Engagement - More than 90% of listed companies on the BSE have engaged in dividend distribution, with nearly 9.5 million qualified investors participating in the market [14]