Since the national share transfer system was extended to the whole country, the number of companies listed on the New Third Board has risen rapidly, forming a huge market scale. By the end of 2065438+May 27th, 2006, there were 7394 listed companies in the national share transfer system, and they still maintained a high-speed growth trend. With the increase of the number of listed companies, there are great differences in development stage, management level, share capital scale, shareholder structure and financing demand, and the differences in transaction frequency, price continuity and market value are becoming more and more obvious. Faced with a large number of listed companies, it is more and more difficult for investors to collect information, select targets and make research decisions. Through hierarchical management, on the one hand, classified services and hierarchical supervision of listed companies are realized through differentiated institutional arrangements to meet the differentiated needs of small and medium-sized enterprises at different stages of development and rationally allocate supervision resources; On the other hand, the innovation layer is designed from three dimensions: profitability, growth and market recognition, which puts forward higher information disclosure and specification requirements for enterprises entering the innovation layer, forms a guiding effect for listed companies, and provides investors with more sufficient information and greater convenience for selecting targets and making investment and research decisions.
In addition, the national share transfer company attaches great importance to market liquidity and is currently studying measures to solve liquidity according to market development. The stratification of listed companies is not necessarily related to solving market liquidity.
In order to meet the needs of companies applying for listing to enter the innovation layer, the national share transfer company has formulated the standards for enterprises to enter the innovation layer when applying for listing. There are three sets of standards for listed companies to enter the innovation layer, which are basically the same as those for listed companies to enter the innovation layer. However, considering that the listed companies have not undergone standardized operation and continuous supervision, publicly traded, decentralized shareholding and market-making transactions after listing, the access standards have been appropriately adjusted: First, "applying for listing means taking market-making transfer" as the same standard for applying for listing to enter the innovation layer, so as to appropriately improve the quality of applying for listing to enter the innovation layer; Second, the standard 1 is required to apply for listing and issue shares at the same time, and the financing amount is not less than100000 yuan; Third, the market value in Standard 3 is required to be calculated according to the price of the shares issued at the time of listing. The issuing target should include no less than six market makers, and the financing amount should be no less than100,000 yuan, so as to improve the fairness of the market value. At the same time, the legal compliance of companies applying for listing should also meet the requirements of listing access.
If a company applying for listing to enter the innovation layer meets the standards of the innovation layer after self-evaluation, it shall go through the listing procedures in accordance with the provisions of the operating guidelines for listing business after obtaining the approval letter for listing, fill in the hierarchical data in time and submit relevant documents, and announce its hierarchical results in the listing prompt announcement.