Source title: The first anniversary of the opening of the market, the steady expansion of service and the development of innovative small and medium-sized enterprises, the Beijing Stock Exchange accelerates the formation of a new market ecology
On November 15, 2021, the Beijing Stock Exchange was officially unveiled, and it has been a full year. From 81 to 123, the listed “corps” has steadily expanded, and is full of innovation; the tailor-made system and rules are precise and inclusive, and continue to speed up the listing of small and medium-sized enterprises; the market function has initially appeared, and the Beijing Stock Exchange has gradually become a brand. Come here enthusiastically… One year after the opening of the market, the new ecology of the Beijing Stock Exchange to serve the development of innovative small and medium-sized enterprises has been accelerated, and a dazzling development answer sheet has been delivered.
New “little giants” assembled
Small and medium-sized enterprises connect thousands of households and are an important force in promoting innovation, ensuring employment, and improving people’s livelihood. As the main front for serving innovative small and medium-sized enterprises, the Beijing Stock Exchange has attracted more than 40 new companies to list in the past year.
Small and medium-sized enterprises account for 77%, private enterprises account for 86%, and over 80% are concentrated in strategic emerging industries and advanced manufacturing industries… A set of data outlines the distinctive features of the 123 listed companies on the Beijing Stock Exchange. These companies cover industrial materials, information technology, medicine and health, “dual carbon”, consumption and other subdivided innovation fields. From the perspective of innovation form, there are innovations in technology and products, as well as innovations in management and business models.
Specialized and new “little giants” have assembled the Beijing Stock Exchange and become the “hard core” force for innovation and development. The data shows that among the 123 listed companies, 49 are national-level specialized and special new “little giant” companies, accounting for nearly 40%. The average R&D intensity of these “little giants” is 5.4%, much higher than the social average. Among them, Liancheng CNC and other four companies have spent more than 100 million yuan on research and development.
Some listed companies have broken through the “stuck neck” technology to achieve import substitution, and their development momentum has been fully released. For example, Litong Technology has developed and launched high-value-added products such as super-wear-resistant acidified fracturing hoses. The net profit in the first three quarters increased by 98.58% year-on-year; maintain an international leading position.
Under the multiple challenges such as the repeated COVID-19 epidemic, the overall performance of the listed companies in the Beijing Stock Exchange has remained stable, and the development vitality and resilience have been fully demonstrated. Data show that in the first three quarters of this year, companies listed on the Beijing Stock Exchange achieved a total operating income of 73.207 billion yuan and a net profit of 6.926 billion yuan, with year-on-year growth rates of 33.25% and 19.43% respectively.
The shortest 72-day listing of enterprises enters the fast lane
“Beijing Stock Exchange’s service targets are broader than those of the Science and Technology Innovation Board and ChiNext. For some small and medium-sized enterprises that are not very large and are still in the growth stage, they can also accommodate them to enter the exchange market.” Yang Shujuan, managing partner of Ernst & Young Beijing, believes that , the system design of the Beijing Stock Exchange is more in line with the characteristics of innovative small and medium-sized enterprises.
The average time from acceptance to registration is 145 days, and the shortest time is only 72 days. Judging from the practical results of the Beijing Stock Exchange in the past year, with the optimization of the review and registration mechanism, the issuance of high-quality SMEs has entered the fast lane.
The Beijing Stock Exchange has four sets of parallel listing standards, taking into account different types of small and medium-sized enterprises with different characteristics, making the covered industries more inclusive, including enterprises in emerging industries such as information technology, medicine and health, and “double carbon”, as well as traditional industries such as agriculture. industry enterprises. In terms of performance, there are both mature companies with a net profit of over 1 billion yuan, and individual companies that have not yet achieved profitability.
“On the premise of sticking to the bottom line, moderately tolerant of the high proportion of connected transactions in the development stage of small and medium-sized enterprises, regional and customer concentration, performance fluctuations and other periodic regular issues.” According to professional analysis, the Beijing Stock Exchange has reserved enough for the growth and growth of small and medium-sized enterprises. space.
At present, 123 companies listed on the Beijing Stock Exchange have raised an average of 207 million yuan through public offerings. A single financing is at least 40 million yuan and a maximum of 1.7 billion yuan. A flexible continuous financing mechanism for small and medium-sized enterprises on the Beijing Stock Exchange has been formed on demand, small amounts, and multiple times.
The “magnet effect” attracts the reserve army
One year after the opening of the market, various market entities such as enterprises, intermediaries, investors, and governments interacted and drove each other, which continued to inject development vitality into the Beijing Stock Exchange and accelerated the formation of a benign market ecology.
The “magnet effect” of the Beijing Stock Exchange has attracted more active listing echelons. As of November 11, the Beijing Stock Exchange has registered 16 companies to be listed, 13 companies have submitted to the CSRC for registration, and the Listing Committee has reviewed and approved 8 companies to be submitted for registration. Behind them, there are more companies sprinting to the North Exchange. Since the opening of the market, a total of 163 companies have applied for listing on the Beijing Stock Exchange. Currently, there are 117 companies under review and 297 auxiliary companies.
On the other side of the market, the investor structure has improved significantly, and long-term funds have accelerated to enter the market. At present, the number of qualified investors on the Beijing Stock Exchange has exceeded 5.2 million, long-term funds such as social security funds, insurance funds, and qualified foreign institutional investors (QFII) have entered the market, and more than 580 public funds have participated in the market. According to the third quarterly report information disclosed by Audiwei, a company listed on the Beijing Stock Exchange, qualified foreign institutional investors (QFII) appeared for the first time among the company’s major shareholders. Zhou Yunnan, founder of Beijing Nanshan Investment, said that as the number and quality of companies listed on the Beijing Stock Exchange increase in size and quality, especially the influx of specialized and new “little giants”, more foreign investors will pay attention.
In the past, it was difficult for small and medium-sized enterprises to get the attention of investors in the market. The listing platform of the Beijing Stock Exchange is gradually changing this situation. In the first three quarters, 43 companies listed on the Beijing Stock Exchange received a total of 112 surveys from various investors, and the number of surveys increased by nearly four times year-on-year, indicating that high-quality SMEs are increasingly recognized by investors.