(Economic Observation) The 1st Anniversary of the Science and Technology Innovation Board: "Building Nests and Introducing Phoenix" Injects "Capital Water" into Enterprises
China News Service, Shanghai, July 20 (Gao Zhimiao) "Many technology companies have large R&D investment, long product cycles, and need financial support, and the important role of the capital market is to serve the real economy, and companies land on the Science and Technology Board through the capital market. With the help of capital, entrepreneurs can concentrate on polishing technology and business models without spending a lot of time on raising funds." Rui Meng, Professor of Finance and Accounting at China Europe International Business School and Professor of Pengrui Finance, told China News Agency reporters .
From 0 to 1, the establishment of the Science and Technology Innovation Board and the pilot registration system ushered in the opening of the market. Over the past year since the market opened, the Science and Technology Board has built a bridge between capital and enterprises, allowing "capital water" to be injected into science and technology enterprises, and also making the company's R&D road more confident.
Lu Xianping, chairman and general manager of Shenzhen Microchip Biotechnology Co., Ltd., told China News Service: "The research and development of the original drug requires a lot of capital, and the research and development cycle is very long, which will cause long-term losses for the company. We have been supported by more high-quality resources, and the injection of a large amount of capital allows us to further enhance our comprehensive scientific research capabilities and product development speed, thereby supporting the overall development of the enterprise."
As the first non-revenue unprofitable company on the Science and Technology Board, Sheng Zelin, chairman and general manager of Suzhou Zejing Biopharmaceutical Co., Ltd., also emphasized the benefits of capital injection to the company. "Through the listing and financing of the science and technology edition, the company has obtained the funds that are urgently needed for development, and has solved the funding problems that the innovative company has always faced, so that the company can continue to promote the research and development and commercialization of new drug product pipelines."
According to Fu Ziheng, general manager of the Huaxin Securities Private Equity Fund Research Center, the biggest innovation of the Science and Technology Board is that there is no direct requirement for corporate profitability, and the listing conditions are more flexible. As long as there is a real technological content, companies with room for growth and imagination in the future are all You can go to the Science and Technology Board for listing. "It can be expected that it will attract more high-quality technology companies in the future, especially startup companies with a certain scale and strength to come here, which will gradually expand the market size of the science and technology board."
Xia Lijun, a researcher at the Shanghai Institute of International Finance and Economics and a professor at the Antai College of Economics and Management at Shanghai Jiaotong University, also said that the Science and Technology Innovation Board meets the urgent needs of the transformation and upgrading of China's capital market system and reflects the characteristics of multi-party cooperation, stability and fast forward. "Since the opening of the Science and Technology Board, the overall performance has been in line with market expectations, and most stocks have undergone a process from stock price overestimation to gradual return to rationality."
The continuous flow of "capital flowing water" continuously brings development vitality to the enterprise, but also makes the development of the enterprise more standardized and stable. Rui Meng believes that the company's landing on the science and technology board not only helps the company to raise funds, but also helps innovative companies to introduce talents, improve governance systems, and build brands. "After an enterprise goes public, it becomes a public company. It has higher requirements on its financial system, tax system, operating system, personnel system, and other corporate governance systems, and business operations will be more standardized."
The management of the company is more scientific and standardized. It is also the feeling of Zhao Yan, chairman and general manager of Huaxi Biotechnology Co., Ltd., "The capital market is not looking at the past and present, but more at the future development. We are also constantly optimizing the corporate governance structure , Management is more scientific and standardized. The company has formulated a ten-year strategy, which requires continuous investment in research and development around the strategy. Only companies that are constantly innovating can have continuous development."
"As a public company, we have more obligations and responsibilities to perform information disclosure. At the same time, it also gives us an opportunity to improve the management system. An enterprise that wants to become a century-old store needs more comprehensive management, research and development, and long-term layout. Development." Lu Xianping believes.
The first anniversary of the opening of the Science and Technology Board may be another new beginning. Jiang Ruixiang, the financial director and secretary of the board of Suzhou Huaxing Yuanchuang Technology Co., Ltd., told the reporter of China News Service that he believes that more mature companies will choose to come to Science and Technology in the future. Board listing. "I hope that through the process of registration, our entire market will become more mature, such as listed companies themselves, investors, and regulatory agencies. Enterprises are dominated by information disclosure, and investors form true value judgments to realize value investment." (Finish)