If individual investors want to open the trading authority of the North Exchange, they can apply directly on the brokerage trading software, and at the same time, they should understand the related risks. Under normal circumstances, brokers will require qualified investors to complete several basic examination questions before opening the authority, including the threshold, listing, trading and delisting rules of the North Exchange. Investors should understand these basic knowledge before deciding whether to participate in the transaction.
(1) What is the price limit of the North Stock Exchange?
There is no limit on the first day of listing of shares of the North Stock Exchange, and the limit is 30% thereafter. Investors should pay attention to the possible risks caused by stock price fluctuations.
(2) What are the main customers of Beijing Stock Exchange?
Beijing Stock Exchange mainly serves innovative small and medium-sized enterprises. Most of them are in the growth stage, and the scale may not be large. They often have the characteristics of relying on core technicians and suppliers, high customer concentration and weak ability to cope with external shocks. There are still great uncertainties in the sustainable innovation ability, income and profitability of enterprises after listing.
(3) What are the issuance methods of new shares of the North Stock Exchange?
The price, timing, scale and rhythm of new shares issued by the North Stock Exchange adhere to the market orientation. New shares can be issued in three ways: pricing, inquiry and bidding, which are determined by the issuer and the lead underwriter through consultation.
(4) Who is the inquiry object of the new share issuance of the North Stock Exchange?
If inquiry is needed, the inquiry object is limited to offline investors who are registered with the China Securities Association, meet the conditions stipulated by the China Securities Association and have opened the trading authority of the North Exchange. Unregistered individual investors who do not meet the requirements cannot directly participate in the issuance pricing. At the same time, because the listed companies in the North Stock Exchange are mainly divided into industries, their performance is greatly affected by the external environment, which is smaller than that of comparable companies. Traditional valuation methods may not be applicable, and there may be risks of stock price fluctuation after listing.
⑤ Does the North Exchange allow unprofitable enterprises to go public?
The North Exchange has set up four sets of listing standards, among which unprofitable enterprises are allowed to go public. Therefore, there may be cases where an enterprise publicly issues shares to unspecified qualified investors, but it has not yet made a profit when it was listed on the North Stock Exchange, and has accumulated uncompensated losses. After listing, it still cannot make a profit, sustain losses, and cannot distribute profits.
⑥ What is the voting rights difference arrangement of the North Exchange?
The North Exchange allows listed companies to have different voting rights. According to this arrangement, listed companies may have relatively centralized control rights, and each special voting share has more voting rights than each common stock, which limits the voting rights of ordinary investors and its influence on the daily operation of the company. Under the circumstances stipulated in the Listing Rules of Stock Exchange of North China and the Articles of Association of Listed Companies, the shares with special voting rights will be converted into ordinary shares at the ratio of 65,438+0: 65,438+0, which will take effect when the autocorrelation of share conversion occurs, and may be different from the registration time of relevant share conversion. Investors should pay close attention to the relevant announcements of listed companies in a timely manner to understand the changes of shares with special voting rights.