The NEEQ raised over 28.3 billion yuan during the year
Our reporter Chang Xiaoyu
As an important part of my country's multi-level capital market, the NEEQ continues to deepen reforms and continuously expand financing channels for small and medium-sized private enterprises to help the real economy break away from the virtual.
According to the weekly report data published on the official website of the National Equities Exchange and Quotations, as of December 4 this year, a total of 581 listed companies on the NEEQ have completed 611 issuances and raised 28.33 billion yuan, which has exceeded the total market financing in 2019 (26.46 billion yuan). ).
In terms of secondary market transactions, the selection layer implements a continuous bidding transaction system, and the innovation layer and the basic layer increase the frequency and number of transaction matching, which is conducive to increasing the transaction volume of the secondary market.
As of December 4 this year, the cumulative turnover of the New Third Board market was 116.93 billion yuan, which significantly exceeded the total market turnover in 2019 (82.57 billion yuan).
It is worth noting that the data published on the official website of the National Equities Exchange and Quotations shows that since the NEEQ selection layer was formally established and opened for trading on July 22, 36 selected companies have raised 9.95 billion yuan through public offerings.
In the secondary market, the turnover of selected enterprises was 23.82 billion yuan, accounting for 20% of the total turnover of the NEEQ (116.93 billion yuan).
Xie Cai, deputy dean and chief industry analyst of the Huacai New Third Board Research Institute, told the "Securities Daily" reporter that since the start of the comprehensive deepening of the NEEQ reform, non-targeted public issuance has been launched on the basis of directional issuance, and the directional issuance system has been implemented. Optimization, the introduction of directional issuance at the same time, allowing self-issued issuance, directional issuance liberalizing the 35-person limit and other institutional arrangements, effectively improving the efficiency and scale of market financing.
Zhou Yunnan, founder of Beijing Nanshan Investment, told the "Securities Daily" reporter that financing difficulties and high financing have always been the bottleneck for the survival and development of small, medium and micro enterprises. As an important financing platform for innovative, entrepreneurial, and growing small and medium-sized private enterprises, the New Third Board bears The important task of alleviating the financial pressure of small, medium and micro enterprises.
As of the end of November 2020, the NEEQ has served 13,400 listed companies since its establishment, of which private enterprises accounted for 93%, small and medium-sized enterprises accounted for 94%, and nearly 7,000 companies have raised a total of over 520 billion yuan.
According to the comprehensive deepening reform plan of the New Third Board, the refinancing system of selected layers will be introduced in the future, which will create more financing channels and opportunities for listed companies and help SMEs and the private economy to flourish.
Chang Chunlin, the founding partner of Beijing Liwu Investment Management Co., Ltd., said in an interview with a reporter from the Securities Daily that in order to increase the proportion of direct financing and improve the ability of financial services to serve the real economy, the Shanghai and Shenzhen Stock Exchanges recently issued the "National SME Share Transfer Measures for the Transfer of System-listed Companies to the Shanghai Stock Exchange Science and Technology Innovation Board (Trial) (Draft for Solicitation of Comments) and the Measures of the Shenzhen Stock Exchange on the Transfer of Companies Listed on the National Small and Medium-Sized Enterprise Share Transfer System to the ChiNext (Trial) ( Consultation Draft), which is also of great significance for enriching the listing path of listed companies and strengthening the organic connection of the multi-level capital market.
Xie Cai believes that “in the future, the selection layer mixed trading system, margin financing and securities lending system, and social security provident funds and other public offering funds are expected to be implemented in the selection layer, which will be more conducive to listed companies in the selection layer. Financing is conducive to more investors sharing the growth dividends of selected enterprises."
Talking about direct financing to help the real economy develop, Chang Chunlin said that the effective increase in the proportion of direct financing can directly help small and medium-sized enterprises to tide over short-term funding difficulties; at the macro level, on the one hand, it helps to improve the structure of corporate assets and liabilities, reduce debt risks, and optimize Financing structure; on the other hand, it is of great significance for the service innovation-driven development strategy, the realization of transformation and upgrading, the improvement of the market-oriented allocation of factors, and the promotion of the stable operation of finance and economy.
"The reform of the new third board has no end." Xie Cai predicts that the threshold for qualified investors will further drop in the future, and the registration system will also be promoted in the new third board.
As the main position for serving my country's small and medium-sized private enterprises, the New Third Board will provide my country's largest market players with better capital market services and help small and medium-sized enterprises obtain funds, resources, and talents through the capital market platform, thereby injecting impetus into my country's sustainable economic growth .
(Securities Daily)