Science and Technology Board Listing Requirements
Investor Requirements:
In the previous 20 trading days, the average value of daily stock assets is not less than 500,000 + two years of trading experience. less than 500,000 can be participated through public funds.
Listed Company Requirements:
1. Estimated Market Capitalization + Net Profit Criteria: Science and technology companies with stable business.
2. Projected market capitalization of 1.5 billion + revenue of 200 million + R & D investment of not less than 15% for three years: for science and technology enterprises with continuous R & D investment in key areas and breakthroughs in core technologies.
3, market capitalization of 2 billion + revenue of 300 million + cash flow of not less than 100 million for three years: not yet profitable, or not a high level of profitability, but has generated stable cash flow enterprises.
4, market capitalization of 3 billion + income of 300 million: not yet reached the level of profitability, but there are prospects for profitability of the enterprise.
5, the expected market value of not less than 4 billion: applicable to the product space, strategic importance of science and innovation enterprises, such as biomedical enterprises. Command Preparation
Expanded Information:
Keyboard delisting mechanism: no longer use a single consecutive losses delisting indicators, two major categories of indicators: one is the deduction of non-net profit is negative, and the other is the net assets negative. Cancel the suspension and resumption of listing mechanism, the delisting time is shortened to 2 years, the first year does not meet the standard ST. whitewash financial data as long as the evidence is conclusive can be delisted.
Science and Technology Board (STB) reduction system: the lock-up period of the executive team was extended to 36 months, 36 months after the still unprofitable, up to a maximum of two more years lock-up. Directors and supervisors each annual secondary market reduction of no more than 1% of the total number of shares, non-public transfers are not subject to the proportion of equitable sale and destruction restrictions. The bulk of the takeover, the receiver to prohibit the sale of placement quietly 12 months.