Science and Technology Innovation Board Launches First Draft of its Aims

Biancoin
Biancoin
Dec 5, 2018 · 2 min read

Biancoin Dec. 05 - - According to related information from Wa Bei network (a website focuses on the information disclosure of the capital market in China), on Dec. 03, someone which approached the system design of the science and technology board revealed the launch of the first draft of the science and technology innovation board’s aims, there are five major categories of indexes, among which industry attributes and performance are inflexible aims.

The definition of the industry attributes is very clear: it shall conform to national strategies, master core technologies, have high market recognition and belong to high-tech industries and strategic emerging industries, such as Internet, big data, cloud computing, artificial intelligence, software and integrated circuits, high-end equipment manufacturing, biomedicine, new materials and new energy.

In terms of performance, it meets one of the following three conditions: 1. the enterprise shall have profited for two consecutive years, with the total net profit of over 50 million yuan, or the enterprise shall profit in the most recent year, with the income of over 200 million yuan; 2. The revenue shall exceed 200 million yuan in the most recent year, and in the most recent three years, the investment in R&D shall account for more than 10% of the revenue; 3. the market value shall exceed 2 billion yuan, and the revenue shall exceed 300 million yuan in the most recent year.

The first draft also sets some other thresholds for the enterprise going public, however, generally it is better to meet the standards, which can be summarized into three categories: the subject qualification: sound organizational structure, standardized corporate governance, and the company being limited liability company; the accountant shall provide the audit report with three-year standard and unqualified opinion; there shall have no major violations of laws and rules on the actual controller, directors, supervisors and senior managers, and the controlling shareholder in three years.