Recently, the State Council has deployed a package of measures to stabilize the economy and proposed to improve the financing efficiency of the capital market, and to scientifically and reasonably grasp the normalization of initial public offering and listing (IPO) and refinancing.The Beijing Stock Exchange accurately meets the financing needs of innovative small and medium-sized enterprises, and the listing review has accelerated significantly, focusing on realizing the continuous supply of high-quality enterprises.
The reporter was informed that the number of listing applications on the Beijing Stock Exchange has exploded since June.According to the latest data released on the website of the Beijing Stock Exchange, in June, 92 companies' applications for listing on the Beijing Stock Exchange were accepted, which is the largest number of applications in the month since the establishment of the Beijing Stock Exchange.In the first half of this year, the Beijing Stock Exchange has accepted a total of 115 listing applications.Up to now, there are 137 companies under review by the Beijing Stock Exchange.
This batch of accepted enterprises is mainly concentrated in the fields of materials industry, industry, optional consumption industry, information technology, medical care and other fields. Among them, there are 75 enterprises in the "manufacturing" category, accounting for 81.52%.At the same time, the subdivided tracks that each company mainly focuses on also have their own characteristics. There are enterprises mainly engaged in intelligent Internet of Things, enterprises engaged in textile testing and inspection, and enterprises specializing in the production of off-road motorcycles. The development characteristics of "change" are obvious.
In June, the companies accepted by the Beijing Stock Exchange were mainly from 20 provinces, and the provinces with the highest number of companies were: Jiangsu (17), Zhejiang (13), Beijing (11), Guangdong (10), Henan (6) , Shanghai (5), Shandong (5) and Sichuan (5).
From the perspective of business operation, the proportion of profitable enterprises reached 95.65%.There are 7 companies with a total operating income of more than 1 billion yuan in 2021, 15 companies with a total operating income of 600 million to 1 billion yuan in 2021, and the remaining companies will have a total operating income of more than 100 million yuan in 2021.The average R&D intensity of enterprises is 5.54%, which is 3.9 times the average level of enterprises above designated size, and the background of innovation-driven is clear.
From the perspective of sponsors, the top four securities firms in terms of project volume are CITIC Construction Investment (9 deals), Soochow Securities (7 deals), Sinolink Securities (6 deals), Dongguan Securities, Kaiyuan Securities, and Shenwan Hongyuan Securities. There are 5 orders.
With the normalization of the issuance and listing of the Beijing Stock Exchange, it is expected that more high-quality companies will run on the Beijing Stock Exchange in the future.According to the reporter's understanding, the current average time for project review (from acceptance to approval/registration) of the Beijing Stock Exchange is 143 days.Analyzing the reasons behind the "speed of the Beijing Stock Exchange", Zhu Weiyi, general manager of Power Capital, said that this is the linkage mechanism between the Beijing Stock Exchange and the stock exchange system.For example, after many NEEQ companies release their annual reports or after the Beijing Stock Exchange provides guidance and filing, the stock transfer system will issue a regular report inquiry letter as soon as possible, and enterprises and intermediaries will prepare the inquiry letter and simultaneously. The problems are sorted out, and some problems are rectified in time to avoid reporting with illness.
At the same time, the “creating R&F” of the Beijing Stock Exchange is also becoming more and more obvious.Zhu Haibin, an analyst on the New Third Board of Essence Securities Research Center, said that the latest average yield of new third board companies transferring to IPO listing is 4 to 8 times.
As the leading role of the Beijing Stock Exchange has begun to exert force, some new changes and new characteristics have appeared in the companies that have newly applied for listing on the New Third Board in the first half of this year.The reporter learned from the National Equities Exchange and Quotations that the first is "quantity increase". In the first half of 2022, 203 companies have newly applied for listing, a year-on-year increase of 331.91%; the second is "high quality". The profit exceeded 50 million yuan, and the net profit of 8 enterprises exceeded 100 million yuan.
In terms of performance indicators, among the 203 newly listed companies, 140 meet the financial standards of the Beijing Stock Exchange, accounting for nearly 70%.Among them, the highest operating income in 2021 will reach 3.88 billion yuan, and the highest net profit in 2021 will be 829 million yuan.Among the 203 newly-applied enterprises, there are only 40 national-level specialized and special new "little giant" enterprises.
It is worth mentioning that among the 203 newly-applied companies, 55 companies have been delisted from the New Third Board and re-applied, and 81 companies have received IPO counseling.Industry insiders believe that this reflects that with the continuous advancement of the comprehensive deepening of the reform of the New Third Board, some innovative small and medium-sized enterprises with a keen sense of smell have turned their attention to the New Third Board market again. The force will increase.
