Case Study On New Third Board Enterprises Transferring To Science And Technology Innovation Board

Since its establishment,the New Third Board has been committed to serving small and medium-sized enterprises and providing financing and transactions for small and mediumsized enterprises.It has become an important segment in my country’s capital market.Since the expansion of the new third board in 2013,the market size has continued to expand,and more and more listed companies have been listed.However,the problems faced by the NEEQ companies have gradually emerged.The business performance and asset quality of the companies have been seriously differentiated,and the NEEQ companies have increased financing difficulties and insufficient liquidity.The efficient development of enterprises is inseparable from the support of funds.In order to meet their own needs and obtain more support,enterprises will seek higher-level capital markets for listing.This paper studies the transfer of the original NEEQ company Jianlong Micro-nano to the Science and Technology Innovation Board,and explores its transfer effect,which not only meets the theoretical requirements,but also echoes the background of the NEEQ company’s transfer to the board.Provides some experience.This paper firstly analyzes the research status of domestic and foreign companies’ transfer to the board and the development status of my country’s new third board,establishes the theoretical basis of Jianlong’s micro-nano transfer,and then uses factor analysis methods and comparative analysis methods to analyze Jianlong’s micro-nano transfer before and after the financial effect.and non-financial effects.This paper mainly studies the transfer of Jianlong Micro-nano to the Science and Technology Innovation Board from the following aspects: First,it expounds China’s multi-level capital market and the transfer method,and uses the efficient market hypothesis,corporate governance theory and corporate financial growth cycle theory.As the theoretical basis of the board transfer;secondly,through the analysis of the development status of China’s NEEQ market and the status quo of the board transfer,it is found that the financing function and liquidity of the NEEQ market are weakening year by year,and the transfer mechanism needs to be further improved;The case analysis of the transfer of the board is carried out,and the process of the transfer of the company,the reasons for the transfer,the conditions of the transfer,the cost of the transfer and the problems of the transfer are introduced in detail,and this article selects the industry to which it belongs is the manufacturing industry,which was listed on the New Third Board in 2015 but has not yet The 24 companies that were transferred to the board and their financial data were fully disclosed were used as sample data.Using SPSS measurement software,factor analysis was used to evaluate the financial performance of the above 24 companies and Jianlong Micro Nano before and after the transfer.The results can be found:Before the transfer Jianlong Micro-Nano’s comprehensive financial performance score ranks low,but after the transfer,its comprehensive financial performance score ranks high and continues to be stable.At the same time,it also uses traditional financial indicators to analyze Jianlong Micro-Nano before and after transfer,and finds that the company is in the Profitability,growth ability and solvency have been improved to a certain extent after the transfer.In terms of non-financial performance,the financing behavior,stock liquidity and market valuation of enterprises before and after the transfer have been further improved.Finally,based on the above case analysis,it is concluded that the transfer of Jianlong Micronano to the board has effectively promoted the development of the company,and three suggestions are put forward for the companies that plan to transfer the board and the new third board transfer mechanism: First,the new third board market can be established by establishing Efficient transfer channels are needed to improve the transfer mechanism;secondly,NEEQ companies need to improve their internal controls;third,companies need to increase investment in scientific research and innovation and select appropriate sectors for transfer.