The Beijing stock exchange (hereinafter referred to as the “Beijing stock exchange”) will be in operation for three months. Since the opening of the market, the overall operation of the market has been stable, the trading activity has increased, and the reserve lineup has been expanded in an orderly manner. According to the statistics on the official website of the Beijing stock exchange, as of February 11, there were 84 listed companies on the Beijing stock exchange, with a total share capital of 12.349 billion shares and a total market value of 227.930 billion yuan. According to the data, since the official opening of the Beijing stock exchange, among the 84 companies, the cumulative rise and fall (including the rise and fall on the first day of listing) of several stocks such as Tongxin transmission, Zhisheng information and jingsai technology has exceeded 100%.
Recently, the first board transfer company of the Beijing stock exchange appeared, and Guandian defense is about to land on the science and innovation board. According to the disclosure of the Shanghai Stock Exchange, the application documents of Guandian defense to transfer to the science and innovation board have been reviewed and approved, and the company has become the first company to transfer to the science and Innovation Board of the Beijing stock exchange. Statistics show that in July 2020, Guandian defense became one of the first selected enterprises. In August 2021, the first batch of selected enterprises met the time limit requirements for listing on the board, and Guandian defense took the lead in issuing an announcement to announce its sprint to the science and innovation board. In September 2021, the Beijing stock exchange was established, and Guandian defense moved from the selected layer company to the Beijing stock exchange. It is pointed out that the multi-level analysis of capital construction is of great significance to the construction of defense capital. Among them, the Beijing stock exchange plays a connecting role in the board transfer system, that is, it absorbs and delivers high-quality small and medium-sized enterprises from the innovation layer of the new third board to the science and innovation board and the gem. The Beijing stock exchange opens up the rising channel for small and medium-sized enterprises and continues to help the construction of a multi-level market system with dislocation development, complementary functions and organic connection.
Since the official opening of the market, the rotation effect of the innovation layer and foundation layer of the Beijing stock exchange and the new third board has gradually appeared. On January 28, the national stock transfer Corporation revised the measures for the hierarchical management of the national share transfer system of small and medium-sized enterprises and solicited opinions from the market. The main contents of this revision include optimizing the financial conditions for upgrading, optimizing the regulations for upgrading, increasing the hierarchical arrangement, adapting to the market structure after the reform, etc. According to the analysis of open source securities, as the main position of China’s service innovative small and medium-sized enterprises, the new listed companies come from innovative enterprises that have been listed for 12 months. This time, the stock transfer company revised the hierarchical management measures, adjusted the time arrangement for the entry of innovation layers, increased the entry frequency and optimized the entry conditions, which is conducive to accelerating the listing rhythm of high-quality small and medium-sized enterprises on the Beijing stock exchange.
It is worth mentioning that the lifting of the ban on shares of the Beijing stock exchange company is relatively faster than that of the Shanghai and Shenzhen markets. According to relevant regulations, the lock up period for shareholders and controlling shareholders holding more than 10% of the shares of the Beijing stock exchange is 12 months, which is shorter than that of the science and innovation board and the gem. According to the statistics of the current lifting of the ban on shares of the company of Beijing stock exchange, two large-scale centralized lifting periods will be faced in February and August 2022. Taking the 20 companies involved in the lifting of the ban on shares in February as a sample, 18 of them have achieved a significant increase in the current market value compared with that when they were listed, which has also become one of the sources of psychological pressure for realization after the lifting of the ban. Anxin Securities pointed out that the large-scale lifting of the ban in February was mainly due to the additional extension of the lock-in period of shareholders of the first batch of listed companies at the early selection level for six months. In the long run, the lifting pressure of blue chip companies has little impact on the market value.
As of press time, a total of nine companies listed on the Beijing stock exchange have issued performance forecasts for 2021. From the change range of predicted net profit, the nine companies have achieved positive growth in varying degrees. Among them, the forecast net profit of beiteri and Jilin Carbon Valley has more than doubled year-on-year, and jingsai technology, Weibo hydraulic, Gaishi food, etc. have exceeded 50%. Looking forward to the market prospect of the Beijing stock exchange, Zhongtai Securities Co.Ltd(600918) believes that considering the change rhythm of corporate profitability and market sentiment, there may be some pressure on the market before and after the first quarter results. However, with the promotion of follow-up policies, the listing of more high-quality enterprises and the continuous admission of professional institutions, the market may turn to an upward trend.
