Our reporter Meng Ke
On June 24, Uji was officially listed on the Beijing Stock Exchange.
So far, the number of listed companies on the Beijing Stock Exchange has reached 100.
"This marks that the Beijing Stock Exchange has entered a new order of magnitude." Zhou Yunnan, founder of Beijing Nanshan Investment, told the "Securities Daily" reporter that the Beijing Stock Exchange, as a new starting point for the comprehensive deepening of my country's capital market reform, aims to improve my country's multi-level capital Market system, improve the dislocation development and interconnection of multi-level capital markets, help innovative small and medium-sized enterprises to achieve common prosperity by leveraging the multi-level capital market, and efficiently solve the problems of financing difficulties, listing difficulties and exit difficulties for innovative small and medium-sized enterprises.
"Small but beautiful" features prominent
Among the 100 listed companies on the Beijing Stock Exchange, SMEs account for 76%.
From the perspective of industry categories, companies in strategic emerging industries, advanced manufacturing and other fields account for more than 80%, covering industrial materials, information technology, medicine and health and other diversified subdivision innovation fields.
The 100 companies have prominent characteristics of being "small but beautiful", which is more in line with the market positioning of the Beijing Stock Exchange to serve innovative small and medium-sized enterprises.
From the perspective of the company's operation, the total operating income of these 100 listed companies in 2021 will reach 70.466 billion yuan, a year-on-year increase of 31.04%; the net profit attributable to the parent is 7.625 billion yuan, a year-on-year increase of 22.81%.
At the same time, the Beijing Stock Exchange has achieved remarkable results in serving the real economy and supporting technological innovation.
The total R&D expenditure of these 100 listed companies in 2021 will reach 3.339 billion yuan, with an average R&D intensity of 6.87%, which is 4.78 times the average level of enterprises above designated size.
Among the 100 listed companies, 22 are national-level specialized and new "little giant" enterprises, and 2 companies have won the National Science and Technology Progress Award.
Fujitec is a national-level specialized and special new "little giant" enterprise listed on the Beijing Stock Exchange earlier.
"Since its listing on the Beijing Stock Exchange, the company's popularity has been greatly improved, and the company's reputation in customers and the market has also made a qualitative leap. At the same time, the company's revenue and profits have steadily increased." Fujitec Director Peru Juncang told the "Securities Daily" reporter. .
"Wantong Hydraulics is the first batch of listed companies on the Beijing Stock Exchange, and it is also a national-level specialized and new 'little giant' enterprise. It has a strong sense of gain since its listing." Wang Mengjun, secretary of the board of Vantone Hydraulics, told the "Securities Daily" reporter that Beijing After the establishment of the exchange, the investment threshold has been lowered, attracting more investors to participate in this market, which is conducive to the company's value transfer.
Zhu Haibin, assistant to the general manager of Essence Securities Research Center, said that he believed that with the accelerated expansion of the Beijing Stock Exchange, more and more high-quality small and medium-sized enterprises will flock to the Beijing Stock Exchange to join the original high-growth and heavy-innovation enterprises. The country's real economic development and scientific and technological innovation goals help.
The pace of listing is gradually improving
As of June 24, there were 100 companies listed on the Beijing Stock Exchange, raising more than 25 billion yuan through public offerings.
In terms of the pace of listing, there have been 20 newly listed companies since the opening of the Beijing Stock Exchange, and 19 newly listed companies since 2022. Among them, the speed of listing has accelerated since May, and a total of 4 companies have been listed; since June, as of June 24 Today, 7 companies have gone public.
It is understood that since the establishment of the Beijing Stock Exchange, it has continuously optimized the review mechanism, improved the quality and efficiency of the review, and carried out a series of targeted measures to improve the efficiency of listing review.
The data shows that the current average time for project review by the Beijing Stock Exchange (from acceptance to approval/registration) is 143 days.
Project audits with high-quality enterprises and diligent and responsible intermediaries will be more efficient. For example, the audit of Huifeng Diamonds by the Beijing Stock Exchange takes only 71 days.
"At present, the Beijing Stock Exchange basically maintains the rhythm of the listing meeting of the first or second review every week, and reviews 1-2 issuer companies at a time." Zhang Yuancheng, managing director of the investment banking department of the Fed Securities, said that in the future, with the increase in the number of declared companies With the increase and the improvement of the review mechanism of the Listing Committee of the Beijing Stock Exchange, the number of reviews at a single meeting is expected to increase, and the overall listing rhythm of the Beijing Stock Exchange will gradually increase.
At the same time that the North Exchange is efficiently auditing, its reserve army is also expanding.
As of June 22, there were more than 310 subsidiary companies of the Beijing Stock Exchange, and 68 companies were under review.
In addition, from the perspective of stratification in the first half of 2022, there are a total of 515 newly entered companies, of which 348 companies meet the financial conditions for listing on the Beijing Stock Exchange, accounting for 67.57%.
89 new-level companies have submitted the listing guidance and filing materials of the Beijing Stock Exchange.
"Beijing Stock Exchange has played a leading role, the number of listed companies has increased steadily, and the number of companies attracting innovation has increased significantly. The gradual improvement of the market structure of the capital market is conducive to improving the accuracy of the capital market in serving innovative small and medium-sized enterprises, reducing the financing cost of the real economy, improving the efficiency of resource allocation, enhancing market functions, and better serving the high-quality development of the real economy and innovative small and medium-sized enterprises." Chang Chunlin, founder and partner of Beijing Liver Investment Management Co., Ltd.
Market liquidity may rise again
Under the background that the Beijing Stock Exchange has begun to take shape, "further enhancing the market activity of the Beijing Stock Exchange and improving liquidity" has become the most concerned thing for listed companies, institutional investors and industry experts.
Lu Juncang said, "I hope to increase the trading activity of the Beijing Stock Exchange, enhance the value of enterprises, create better financing channels for listed companies, and achieve a win-win situation between enterprises and investors."
Yang Delong, chief economist of Qianhai Open Source Fund, told the "Securities Daily" reporter that the liquidity problem faced by the Beijing Stock Exchange in the early days of its establishment has been marginally improved with the gradual expansion of the market and the increase in the willingness of institutions to participate.
At present, there are 100 listed companies in the Beijing Stock Exchange, and they can study and launch the Beijing Stock Exchange index and hybrid trading system.
With the continuous improvement of the system, the willingness of investors to participate in the Beijing Stock Exchange will also continue to increase.
Zhu Haibin said that in the future, various indexes related to the Beijing Stock Exchange may be developed, and the exposure of enterprises will be further enhanced.
With the expansion of the scale of the enterprise itself and the increase in the number of enterprises, the market liquidity of the Beijing Stock Exchange will be greatly enhanced in the future, providing support for fundamental investment and valuation investment.