China Securities Regulatory Commission Increases Requirements for R&D Investment for Companies Planning to List on Science and Technology Innovation Board
According to news from the China Securities Regulatory Commission on April 30, the commission has revised the “Guidelines for the Evaluation of Science and Technology Innovation Attributes” in order to strengthen supervision, prevent risks, and promote high-quality development of the capital market. The revised guidelines will be implemented from the date of promulgation.
The revised guidelines aim to guide science and technology companies to focus more on scientific research investment and the industrialization of research results. They moderately increase the requirements for R&D investment, number of invention patents, and compound growth rate of operating income for companies planning to be listed on the Science and Technology Innovation Board. This is intended to improve the quality and application of enterprises in the market.
The China Securities Regulatory Commission emphasized the importance of adhering to the positioning of the science and technology innovation sector. Companies listed on the Science and Technology Innovation Board should possess key core technologies, demonstrate outstanding innovation capabilities, and rely mainly on core technologies for production and operations. They should also have a stable business model, high market recognition, good social image, and strong growth potential.
The commission will work with the Shanghai Stock Exchange to ensure that companies listed on the Science and Technology Innovation Board meet these criteria. The goal is to promote industrial innovation through technological innovation and leverage the functions of the Science and Technology Innovation Board effectively.
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