Sprint to the North Stock Exchange!

A Chinese reporter from a securities firm learned that at the end of September, a number of local governments and local securities regulatory bureaus made strenuous efforts to carry out policy training on the Northern Stock Exchange for local companies listed on the new third board and enterprises to be listed on the North Stock Exchange to understand their willingness to list.

It is understood that from September 27 to 28, the Shenzhen Securities Regulatory Bureau held a forum to support listed companies that meet the declaration requirements of the Beijing Stock Exchange to achieve public offering and financing, and to support qualified basic layer companies to apply for transfer to the innovation layer. During the same period, the Tianjin Securities Regulatory Bureau and the Beijing Stock Exchange launched a "combination of punches" for listing and visiting local enterprises.

Some brokerage personages said that since the establishment of the North Stock Exchange in September, there has been an upsurge of tapping listed resources in many places again, and local governments have responded positively, together with intermediary agencies, to answer questions to enterprises.

Local Securities Regulatory Bureau promotes enterprise declaration

On September 27, Shenzhen Securities Regulatory Bureau organized a forum on Shenzhen new third board listed companies, which was attended by more than 40 representatives of 22 new third board listed companies, including the South China Base of the National Stock transfer Company, Shenzhen listed companies Association, Shenzhen area Beitre, and so on. Enterprises that meet the declaration requirements said that they would actively start the listing declaration of the Beijing Stock Exchange.

The person in charge of the Shenzhen Securities Regulatory Bureau said that the next step is to carry out accurate services to promote enterprises to actively apply for the Beijing Stock Exchange. Continue to carry out on-site visits, investigations and discussions of listed companies, take the initiative to provide "one-to-one" services, hold special training sessions, do a good job in policy propaganda and answering questions, and smooth communication channels. collect the opinions and suggestions of market participants on the reform of the new third board.

At the same time, the supervision and control will be strengthened to improve the quality of the new third board company. We will solidly do a good job in the guidance and acceptance of listing on the Beijing Stock Exchange, promote companies to improve corporate governance in the process of guidance, consolidate the foundation of financial accounting, urge companies to improve the quality of information disclosure, do a good job of "entry", avoid the phenomenon of "reporting with illness", and improve the quality of companies listed on the North Stock Exchange.

On September 28, Shenzhen Securities Regulatory Bureau and Shenzhen Municipal Bureau of Industry and Information Technology (Shenzhen Municipal Bureau of small and medium-sized Enterprises Service) held a forum on "specialized and special new" enterprises. A total of 25 enterprises attended the meeting, and many enterprises said that they would clarify the development plan of the capital market as soon as possible. the listing of the new third board innovation layer and listing on the North Stock Exchange as soon as possible.

Representatives of the Shenzhen Securities Regulatory Bureau encouraged "specialized and special new" enterprises to participate in the meeting to seize the opportunity of the establishment of the North Stock Exchange, get close to the capital market, and start standardizing as soon as possible, to solve the common outstanding problems such as imperfect internal system, imperfect governance, and weak foundation of financial accounting, deepen the main business, practice internal skills, enhance the ability of scientific and technological innovation, and make use of multi-level capital markets to achieve high-quality development at an early date.

Also from September 27 to 28, Tianjin Securities Regulatory Bureau, in conjunction with the Northern Stock Exchange, Tianjin Financial Bureau and Tianjin Binhai over-the-counter Trading Market (Tianjin OTC), went to Tianjin Binhai High-tech Zone, Wuqing District and Binhai New area to carry out listing publicity and training, face-to-face preaching policies and providing targeted services.

For example, the research team visited Zhongfa Construction Technology Group in Binhai High-tech Zone to understand the basic situation of the enterprise, the income and profit situation, the listing plan of the North Stock Exchange, and so on. The company has clearly defined the goal and planned arrangement of "listing on the new third board this year and listing on the North Stock Exchange next year", and will be included in the reserve resource pool for listing by the two-level local financial bureaus in the urban area that attended the meeting on the spot, and will become the storage enterprises that focus on services.

In addition, the Tianjin Securities Regulatory Bureau, in conjunction with the Beijing Stock Exchange, conducted on-site training and lectures on the listing policy of the North Stock Exchange to 19 innovation-listed companies in the area. More than 10 enterprises that meet the listing conditions of the Northern Stock Exchange have made clear their target plans for listing this year and next year.

The Securities Supervision Bureau of Tianjin Bureau clearly stated that in the next step, it will continue to implement various work arrangements for deepening the reform of the new third board: on the one hand, strengthen daily supervision to improve the quality of companies listed in stock; on the other hand, continue to unite with the Beijing Stock Exchange, strengthen policy propaganda, visit and research, strengthen efforts to serve innovative small and medium-sized enterprises, and contribute to deepening the reform of the new third board and promoting the high-quality development of the real economy in Tianjin area.

Many governments attach importance to the strategic opportunities of the Beijing Stock Exchange.

For the current upsurge of all parties in the market to tap the Beijing Stock Exchange reserve project, many brokerage investment bankers have a deep understanding: "many local governments are promoting local enterprises to go to the Beijing Stock Exchange in order to seize policy opportunities."

It is understood that on September 28, the Anhui provincial government held a report meeting on the relevant policies of the Beijing Stock Exchange and a meeting to promote the development of specialized and special new enterprises. provincial Governor Wang Qingxian said at the meeting that specialized and special new enterprises have the characteristics of high growth, high added value, light assets and so on. It is necessary to mobilize more capital strength to give blessing and empowerment, and to create a "through train" for "Anhui Brand" specializing in new enterprises.

On September 30, Shandong Local Financial Supervisory Administration, together with Shandong Securities Regulatory Bureau and Sino-Thai Securities, held a special training session on the listing of Shandong enterprises on the Northern Stock Exchange in Jinan. Liu Xiao, director of Shandong Local Financial Supervisory Administration, said that Shandong should seize the opportunity and take advantage of the situation. Make efforts and efforts to open up a new situation in the listing of enterprises on the Northern Stock Exchange from accurately accelerating the listing process of enterprises, deeply excavating and cultivating reserve resources, and supporting enterprises to make full use of the capital market to be better and stronger.

An investment banker of a regional securities firm in the north told the brokerage Chinese reporter that he had recently held a listing meeting with the local government on the North Stock Exchange. "the participation of enterprises is very active." A person from the new third board of a brokerage in eastern China said, "We are working with local governments to do a good job in market publicity and policy analysis, and guide suitable enterprises to list on the North Stock Exchange."

At present, how big is the "reserve team" of the Beijing Stock Exchange? Zhu Haibin, an analyst at Anxin Securities, predicted and analyzed this, saying that as of September 24, a total of 235 companies from the new third board innovation layer and basic layer had applied for a selected layer of public offering.It is understood that the selected layer will be "seamlessly connected" to the North Stock Exchange, and the North Stock Exchange will make convergence arrangements to ensure that the project review will continue, the release rhythm will not be interrupted, and the smooth transition from the selected layer to the North Stock Exchange will be realized, so these enterprises are already equivalent to the reserve team.

According to seaside statistics, the median revenue of the above-mentioned enterprises in 2020 is 247 million yuan, and the median net profit returned to the mother is 30.54 million yuan. Among them, the number of companies with net profit in the range of 0.1-30 million yuan is the largest, with 95, accounting for 40 per cent.

From the perspective of industry distribution, 80 enterprises belong to the TMT industry, of which the largest number of computer-related companies, there are 49, accounting for 61%. In all fields, the average revenue in the field of communications is the highest, with a median revenue of 333 million yuan in 2020, 2.17 yuan for computer-related companies and 212 million yuan for electronic hardware. In terms of R & D investment, the average R & D expenditure rate of the TMT industry in 2020 is 6.25%, and the median R & D expenditure rate of companies in computer-related fields is the highest, reaching 7.09% in 2020.