⑴ In the growth stage: Most small and medium-sized board companies are in the growth stage of the company's life cycle. Compared with companies in the mature stage, companies in the growth stage have the characteristics of high growth and high profits.
⑵ Regional advantages: Most small and medium-sized enterprises are located in economically developed areas such as the southeastern coast. Among the 50 enterprises, 31 are from Zhejiang, Guangdong, and Jiangsu provinces, accounting for 62%. The economic development of coastal areas provides huge space for the development of small and medium-sized enterprises.
⑶Strong independent innovation capabilities: Most of the small and medium-sized enterprises are small companies that are leaders in their respective industries. Nearly 90% of them have independent patented technologies. Some companies are listed as the focus of the National Torch Plan. High-tech enterprises and national key high-tech enterprises recognized by the Ministry of Science and Technology. The "Eleventh Five-Year Plan" emphasizes the independent innovation capabilities of high technology, and small and medium-sized enterprises with high technological content will usher in a good market development environment.
(4) The entry threshold for the small and medium-sized enterprise sector is relatively high and the listing conditions are stricter, which is close to the existing main board market. The GEM has lower entry barriers and more relaxed listing conditions.
⑸ The operation of the small and medium-sized enterprise sector adopts a non-independent subsidiary market model, also known as the one-two-board parallel system, that is, the small and medium-sized enterprise sector is affiliated with the Shenzhen Stock Exchange. As a supplement to the Shenzhen Stock Exchange, the small and medium-sized enterprise sector operates together with the Shenzhen Stock Exchange. It has the same organizational management system and trading system, and even adopts the same regulatory standards. The main difference is the difference in listing standards. . For example, this is the case with the SecondBoard of the Singapore Stock Exchange, the secondary markets of the Kuala Lumpur and Thailand Stock Exchanges, and the Hong Kong Growth Enterprise Market.