High-tech innovative enterprises burn money in the early stage, and many of them begin to make profits after listing. The domestic A-share market (including the Growth Enterprise Market) has a threshold requirement for the company's listing performance and net assets. Many high-tech innovative enterprises can't meet the requirements of A-share listing.
2. Overseas capital support
High-tech innovative enterprises have high investment risks. Many domestic RMB funds still invest in pre-listing projects. Therefore, most high-tech innovative enterprises are developed with the support of overseas capital. Based on various considerations, offshore dollar funds tend to be listed overseas.
3. Consideration by other bodies
It is difficult to operate in the domestic A-share market, such as the option system of full shareholding.
Private high-tech innovative enterprises seek listing outside the 18th bend of Yuanshan Road, and many of them are forced to choose, not voluntarily.