The first shares listed on the board were released
source: Shanghai Stock Exchange
On January 27, the Shanghai Stock Exchange released the results of the 7th review meeting of the science and Innovation Board Listing Committee in 2022, and Guandian defense board listing was approved.
According to the relevant rules, the board transfer belongs to the change of the place where the shares are listed, does not involve the public offering of shares, and does not need to be approved or registered by the CSRC according to law. The Shanghai and Shenzhen Stock Exchange shall review and make a decision according to the Listing Rules. Guandian defense will become the first board transfer company after the establishment of the Beijing stock exchange.
the first listed enterprise transferred to the board will hold a meeting
On November 10 last year, the Shanghai stock exchange accepted the application for Guandian defense board transfer. More than two months later, on January 27, Guandian defense passed the “board transfer examination”.
China Securities News · China Securities Taurus reporter noted that during the audit process, the Shanghai Stock Exchange issued two rounds of inquiries, focusing on and judging whether the board transfer company meets the board transfer listing conditions and information disclosure requirements, and urging it to improve the content of information disclosure. Guandian defense replied to the first and second rounds of inquiries on January 12 and January 18 respectively
source: report on board transfer and listing
Guandian defense’s main business is UAV flight service and data processing, and the R & D, production and sales of UAV Systems and intelligent defense equipment. According to the data, from 2018 to 2020 and the first half of 2021, the company achieved operating revenue of 105 million yuan, 146 million yuan, 180 million yuan and 127 million yuan; The net profit attributable to the parent company was 20.5706 million yuan, 41.7042 million yuan, 53.4608 million yuan and 47.4598 million yuan.
In terms of “scientific content”, Guandian defense’s R & D investment from 2018 to 2020 and the first half of 2021 were 9.1978 million yuan, 17.5801 million yuan, 2010.59 million yuan and 8.1576 million yuan respectively, accounting for 8.80%, 12.05%, 11.18% and 6.41% of operating revenue respectively
source: Shenzhen Stock Exchange
At present, in addition to Guandian defense, two companies planning to transfer to gem, Hanbo hi tech and taixiang have replied to the first round of inquiries.
promote the construction of multi-level capital market
Unblocking the board transfer mechanism and forming a multi-level market system with staggered development, complementary functions and organic links is one of the specific measures to implement the important deployment of the CPC Central Committee and the State Council on the high-quality development of the capital market during the 14th Five Year Plan period. It is of great significance to improve the proportion of direct financing and support the growth of high-quality small and medium-sized enterprises.
In June 2020, the CSRC issued the guiding opinions of the CSRC on the listing of companies listed on the National SME share transfer system.
In February 2021, the Shanghai Stock Exchange issued and implemented the measures for the listing of companies listed in the national share transfer system of small and medium-sized enterprises on the science and Innovation Board of Shanghai Stock Exchange (for Trial Implementation), and formulated and issued relevant guidelines on the review rules of listing on the board in July of the same year, so as to steadily promote all work of listing on the board.
In January 2022, the CSRC revised the original guidance and formed the guidance on the board transfer of listed companies of Beijing stock exchange. For those who have submitted applications to Shanghai and Shenzhen Stock Exchange before the opening of the Beijing stock exchange, the original guidance and supporting rules shall apply.
In the view of insiders, Shanghai Stock Exchange and Beijing stock exchange adhere to dislocation development and interconnection, which is an organic part of the multi-level capital market. The science and innovation board and the Beijing stock exchange meet the financing needs of enterprises of different types and different development stages. In terms of market functions, the science and Innovation Board focuses on supporting “hard technology”, mainly serving scientific and technological innovation enterprises that meet the national strategy, break through key core technologies and have high market recognition; Beijing stock exchange focuses on innovative small and medium-sized enterprises, and its service objects are “earlier, smaller and newer”. In terms of market operation, there are great differences in investor structure and risk preference between Beijing stock exchange and Shanghai and Shenzhen Stock Exchange, which will jointly help the capital market form an investment culture of long-term investment and rational investment.
Data show that by the end of 2021, 26% of enterprises listed on the science and Innovation Board had been listed on the new third board. “Shanghai Stock Exchange and Beijing stock exchange will strengthen interconnection, accelerate the improvement of the whole chain system serving small and medium-sized enterprises, and form a progressive growth path of small and medium-sized enterprises and a good multi-level capital market development ecology.” These people said.
