Moreover, the IPO potential of enterprises in the innovation layer is great. Because most enterprises are at the grassroots level.
In the future, the enterprise valuation at the basic level may be dominant, while the innovation level will be at a disadvantage.
The so-called "innovation layer" means that according to the relevant provisions of the stratification system of the New Third Board, the national share transfer system divides all companies listed on the New Third Board into two levels: innovation layer and basic layer, and listed companies that meet different standards are respectively included in the innovation layer or basic layer management.
"Basic layer" means that according to the relevant provisions of the stratification system of the New Third Board, the national share transfer system divides all companies listed on the New Third Board into two levels: innovation layer and basic layer, and listed companies that meet different standards are respectively included in the innovation layer or basic layer management.
According to the "Measures for Hierarchical Management of Listed Companies in the National Small and Medium-sized Enterprise Share Transfer System (Trial)" issued by the National Share Transfer Company, this new three-board hierarchical system mainly involves four aspects. First, the access standards of the innovation layer are clarified; The second is to formulate standards for applying for listing companies to enter the innovation layer; The third is to establish maintenance standards for the innovation layer; The fourth is to clarify the hierarchical division and adjustment mechanism of listed companies.
Through internal stratification, we will make differentiated arrangements in terms of trading system, distribution system and information disclosure requirements, and finally achieve the goal of sustained and healthy development of the New Third Board market.
To enter the innovation layer, a listed company must meet one of the following conditions: (1) It has been making profits continuously in the last two years, with an average annual net profit of not less than 20 million yuan.
The operating income has increased continuously in the last two years, with a compound annual growth rate of not less than 50%; The average operating income in the last two years is not less than 40 million yuan; The share capital shall be no less than 20 million shares.