Science and technology innovation board, as a customized financing platform for high-tech enterprises, mainly serves scientific and technological innovation enterprises that conform to the national strategy, break through key core technologies and have high market recognition. It was originally an alternative path for high-quality enterprises that did not meet the IPO standards of A shares, mainly for small and medium-sized scientific and technological innovative enterprises. Compared with the main board market, it has the advantages of low threshold and high return.
Since Geely has been listed on the Hong Kong stock market, why should we look at the science and technology innovation board with lower threshold? As a head car company with its own brand, what kind of demonstration and guidance will Geely bring to itself and the industry by landing on the science and technology innovation board?
Avoiding risks has become a trend.
From the external environment, Geely announced its return to A shares in June this year. In April this year, the CSRC just announced that it would lower the threshold for domestic listing of red-chip enterprises. On the basis of the original standard of "not less than 200 billion yuan", it adds one item, that is, companies with market value of more than 20 billion yuan, independent research and development, international leading technology, strong scientific and technological innovation ability and comparative advantages in the same industry competition are included.
It is found that red-chip enterprises refer to listed companies that have been listed in Hong Kong stocks, but are directly controlled by Chinese-funded enterprises or hold more than 35% equity. According to some financial analysts, becoming a red-chip enterprise means that Geely can directly return to science and technology innovation board for listing as the main body of Hong Kong stocks, without dismantling the original VIE structure or reorganizing the technology business. This undoubtedly created a very favorable policy dividend for Geely's return to A shares.
According to Pan Helin, Executive Dean of Digital Economy Research Institute of Zhongnan University of Economics and Law, Geely's return to A-share science and technology innovation board is not only due to the good support of relevant policies, but also related to the changes in overseas situation and the obstruction of corporate financing. Therefore, the mainland market will become a good "safe haven" for capital, and returning to A shares at this time can avoid relevant financial risks.
At the same time, he believes that with the acceleration of the opening-up process of A-shares in recent years and the relatively stable domestic investment environment in the world for a long time, it will be a general trend for enterprises listed in Hong Kong stocks and US stocks to return to A-shares in the future.
Jump out of the car and be a car.
As we all know, the science and technology innovation board has clear requirements for listed companies, including new generation information technology, high-end equipment, new materials, new energy, energy conservation and environmental protection, biomedicine and so on. As a vehicle manufacturer, Geely Automobile is undoubtedly a traditional manufacturing enterprise. At present, the automobile companies in science and technology innovation board are all parts companies involved in hydrogen fuel, lithium batteries, intelligent networking and other fields, and there are no vehicle companies.
Therefore, Geely's original intention of returning to the A-share market of science and technology innovation board can not help but arouse public speculation, and even the main body that will promote the listing of science and technology innovation board has also aroused discussion in the industry.
In this regard, it can be seen that in the first round of inquiry reply, Geely explained that the company's main business involves big data, cloud computing, artificial intelligence, and high-end equipment manufacturing. , belonging to high-tech industries and strategic emerging industries. In addition, Geely also said that the company's scientific and technological innovation achievements are reflected in key areas of energy conservation and environmental protection, and have been formed? "Efficient fuel power" and "diversified new energy" are two parallel energy-saving and emission-reduction routes. Even the published data shows that the investment in energy-saving vehicles and related forward-looking basic technologies in 20 19 is nearly 5 billion yuan, accounting for more than 90% of the total R&D investment of 5.456 billion yuan.
Fu Zeng, vice president of China Automobile Industry Association, commented on Geely Science and Technology Innovation Board. "When a healthy enterprise starts to expand the capital market, it shows that it has a very clear plan for funds, and' targeted' is the biggest feature of such enterprises." This is also the case. According to industry insiders, the purpose of Geely's return to A-share selection of science and technology innovation board is not in the capital field, but to accelerate technological transformation and promote Geely Automobile to enter the technology manufacturing industry as a whole.
By combing the car-buying network Buycar, it is found that up to now, Geely has laid out Cao Cao's trip, set up a travel service joint venture with Daimler, invested in Volocopter German City Air Travel Company and cooperated with Daimler. In addition, it has established strategic cooperation plans with China Mobile, China Telecom, China Unicom, BAT and other technology companies, and is committed to building an integrated intelligent mobile terminal of GKUI Jike intelligent ecosystem. Even actively carry out the layout of 5G technology and extend it to the Wi-Fi project of high-speed train EMU. What do you think? It really smells like a travel technology company.
In addition, Geely's return to the science and technology innovation board also plays a certain guiding role in the industry. On the same day that Geely replied to the first inquiry of Shanghai Stock Exchange, Evergrande announced its intention to issue RMB shares for listing in science and technology innovation board, Shanghai, in an attempt to become the first new energy automobile company to be listed in science and technology innovation board. In addition, Dongfeng, Weimar and other old and new forces are also applying for IPO of science and technology innovation board.
According to industry experts, the return of leading car companies such as Geely and Evergrande to the science and technology innovation board will help them to open up domestic financing channels, enrich their capital strength, better use them in product and technology research and development, and enhance the overall competitiveness of China's new energy automobile industry. At the same time, it will help to improve the quality of listed companies in the domestic automobile sector, make the distribution of funds more reasonable, and promote the survival of the fittest in the capital market.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.