Growth enterprise market, also known as the second board market, is a kind of securities market different from the main board market. It is a securities market that provides financing channels and growth space for entrepreneurial enterprises, small and medium-sized enterprises, high-tech industrial enterprises and other enterprises that need financing and development. It is an important supplement to the main board market and plays an important role in the capital market. The market code of China Growth Enterprise Market starts with 300.
Growth Enterprise Market (GEM) is a secondary securities market second only to the main board market, which is traded in Shenzhen Stock Exchange. The main purpose of its establishment is to provide financing channels for high-tech enterprises, effectively evaluate the value of venture capital through market mechanism, promote the combination of knowledge and capital, promote the development of knowledge economy, provide "export" for venture capital funds, disperse the risks of venture capital, promote the virtuous circle of high-tech investment, improve the flow and use efficiency of high-tech investment resources, increase the liquidity of innovative enterprises' shares, facilitate enterprises to implement equity incentive plans, encourage employees to participate in enterprise value creation, and promote the standardized operation and establishment of enterprises.
Compared with the main board market, GEM is characterized by low entry threshold and strict operation, which helps potential SMEs to obtain financing opportunities. Most companies listed on GEM are engaged in high-tech business with high growth, but they are often established in a short time, with small scale and outstanding performance, but there is great room for growth. Growth enterprise market is a stock market with low threshold, high risk and strict supervision, and it is also the cradle of incubating technology-based and growth-oriented enterprises.
GEM's qualifications are:
The issuer is a company limited by shares established in accordance with the law and operated continuously for more than three years (the change of a company limited by shares as a whole can be counted continuously);
(a) the public offering of shares approved by the China Securities Regulatory Commission;
(2) The total share capital of the company is not less than 30 million yuan; The publicly issued shares account for more than 25% of the total shares of the company; If the company's total share capital exceeds 400 million yuan, the proportion of publicly issued shares exceeds10%;
(3) The company has no major illegal acts in the last three years, and its financial and accounting reports have no false records;