0 1. The first listing standard of science and technology innovation board is an enterprise with a valuation of 1 100 million yuan. If an enterprise with an estimated market value of 65.438 billion yuan wants to apply for listing in science and technology innovation board, it must ensure that the net profit in the last two years is positive, and the accumulated net profit should reach more than 50 million yuan. Enterprises that fail to meet this requirement can also choose another standard, that is, to ensure that the net profit of the enterprise in the last year is positive, and the operating income in the last year must be above 1 100 million yuan. From the rules of standard one, we can find that standard one mainly values the profitability of enterprises, that is, the ability of enterprises to create profits in a short period of time. For most enterprises, the threshold of standard one is relatively low and easy to reach. According to statistics, the proportion of enterprises that choose standard one is as high as 82%.
02. Standards 1 to 5 require higher and higher market value, and each standard has different emphasis. The standard 1 requires the lowest market value of enterprises applying for listing. Since standard 2, the market value has gradually increased. Standard 2 needs 65.438+0.5 billion yuan, standard 3 needs 2 billion yuan, standard 4 directly increases 65.438+0 billion on the basis of standard 3, and standard 5 directly rises to 4 billion. This requirement is difficult for most enterprises to meet, which can also explain why.
In addition to the different requirements for market value, the five standards have different emphases. The standard 1 focuses on the profitability of enterprises, especially in the last two years. Criterion 2 focuses on the R&D expenditure of enterprises, and specifically requires that the R&D investment of enterprises must account for more than 65,438+05% of the total operating income of enterprises in the last three years. Standard 3 focuses on the cash flow of enterprises in recent years, especially the operating cash flow. Standard 4 focuses on some powerful enterprises and their market share and scale. Standard 5 focuses on the industry prospects of enterprises.
03, the vast majority of enterprises choose standard one, and few enterprises choose standard five. Listing is one of the important decisions of a company, and the success of this decision directly determines the future fate and development space of the enterprise, so most enterprises are particularly cautious when facing the listing problem. Market value has become a mandatory requirement for enterprises listed on the science and technology innovation board. Due to all kinds of uncertainties and risks, most enterprises will choose standard one as their listing standard, while standard five, because of its high market value requirements, few enterprises will choose standard five as their listing standard.