China News Service, Beijing, November 15 (Reporter Pang Wuji) The Beijing Stock Exchange officially opened on the 15th.
The first batch of 81 listed companies of the Beijing Stock Exchange showed up collectively, reflecting the distinctive characteristics of innovative small and medium-sized enterprises.
Tao Kuangchun, chairman of KPMG Asia Pacific and China, believes that the Beijing Stock Exchange can be regarded as a "China solution" for small and medium enterprises.
The formal establishment of the Beijing Stock Exchange marked the further formation of a more convenient, multi-level and diversified capital market in China.
The two major stock exchanges in Shanghai and Shenzhen have more than 4,500 listed companies, providing companies with better financing conditions and helping companies develop rapidly.
But in addition, Tao Kuangchun pointed out that there are more than 30 million small and medium-sized enterprises nationwide.
Only a very small part of these small and medium-sized enterprises can obtain support through the capital market. They also have a strong need to seek better and faster development through the power of the capital market.
The completion of the Beijing Stock Exchange provides an important platform for innovative SMEs to obtain financing services, standardize governance structures, improve corporate governance, and achieve leapfrog development.
The characteristics of the Beijing Stock Exchange are "earlier, smaller, and newer"-that is, to pay attention to and serve SMEs with small enterprise scale, high technology content, and strong innovation capabilities earlier, and to discover "good seed" in advance, and serve for SMEs. Open new and convenient financing channels to better help it grow into the country's most important weapon.
"Specialized, Specialized, New" companies are mainly focused on manufacturing, which is the focus of the Beijing Stock Exchange.
However, Tao Kuangchun said that innovation is not limited to manufacturing. The Beijing Stock Exchange will also provide better solutions to small and medium-sized enterprises with outstanding innovative capabilities in strategic emerging industries, specialized producer service companies, and high-quality life service companies. Financial support.
In order to better encourage innovation, the Beijing Stock Exchange has also greatly enhanced inclusiveness and provided better support to small and medium-sized enterprises in terms of mechanism, capital, industry, and profitability requirements.
For example, in terms of profit thresholds, the Beijing Stock Exchange has established reasonable profit standards based on the development characteristics of small and medium-sized enterprises.
On the Science and Technology Innovation Board or the Growth Enterprise Market, most IPO companies have a profit of more than 50 million yuan in the last year of the filing period.
The Beijing Stock Exchange requires a minimum market value of 200 million and a profit of 15 million or more in two years to be listed. For some innovative companies that are highly recognized by the market and have strong R&D and innovation capabilities, the Beijing Stock Exchange does not require revenue and profitability.
This is also more in line with the development stage and operating characteristics of SMEs.
The relatively loose listing conditions, lower profit threshold, and faster review cycle of the Beijing Stock Exchange have given more innovative companies the opportunity to go public and raise funds and develop innovatively.
Tao Kuangchun said that in terms of the audit cycle, the convenience and efficiency of the audit have been further improved.
Compared with the Science and Technology Innovation Board and the ChiNext, the Beijing Stock Exchange has further optimized the review efficiency and will implement the "one declaration, one acceptance" review cycle which will be significantly lower than that of the Science and Technology Innovation Board and the ChiNext.
As a newly established exchange, the Beijing Stock Exchange has gathered a group of high-quality innovative small and medium-sized enterprises in a relatively short period of time to form a certain market scale, which can create a brand effect and form a positive social impact. This is the long-term Development to build a solid foundation.
According to statistics, as of November 10, more than 200 companies have entered the selection layer listing counseling period, 55 companies have been accepted for listing applications, and the reserve army of the Beijing Stock Exchange is constantly influx.
Tao Kuangchun pointed out that the official establishment of the Beijing Stock Exchange marked the further formation of a more convenient, multi-level, and diversified capital market in China, bringing unprecedented new choices and new opportunities for NEEQ listed companies and innovative small and medium-sized enterprises to connect to the capital market. opportunity.
At the same time, higher requirements are also put forward for financial service institutions.
One is to require financial service institutions to provide full life cycle services.
The IPO of the Beijing Stock Exchange must first go through the NEEQ listing, basic layer and innovation layer compulsory standardization stage, and can directly apply for the listing requirements of the Beijing Stock Exchange.
This requires financial service institutions to combine the industry type, growth stage and development needs of innovative and entrepreneurial enterprises during the start-up period, and provide professional services through customized exclusive financial service plans, innovative exclusive products and services, and docking of specialized value-added services. Provide exclusive services for small and medium-sized innovative and entrepreneurial enterprises, from "sprinting" to "long-distance running", and accompany small and medium-sized enterprises to grow together.
Second, financial institutions need to further play a bridge role.
As a participant in the capital market, financial service institutions should further play a role as a bridge between the financing end and the investment end. In the face of many innovative small and medium-sized enterprises, financial service institutions must not only protect the basic interests of investors, but also perform well in helping financiers. The obligation to raise funds smoothly, discover and help innovative companies to achieve listing, and truly achieve financial services to entities.