| At present,China has entered a new era of technological innovation driving economic growth,and it is necessary to establish a group of high-tech enterprises to lead our country to become a strong country in science and technology.The establishment of the science and technology board can play a huge role in promoting capital to attract high-quality high-tech enterprises in the new economy,new business format and industry.Second,the external environment has deteriorated and the world economy has declined.The United States has taken the lead in launching a trade war and gradually expanded it into financial wars and geopolitical wars.It attempts to curb the rapid increase of China's scientific and technological strength by means of imposing tariffs,suppressing high-tech companies,and implementing technology blockades..To quickly improve the technological innovation capability of an enterprise,it is particularly important to make up for shortcomings in science and technology.As an important project of capital market reform,the science and technology innovation board can greatly enhance the ability of financial service technology and improve the quality and efficiency of financial supply.In the past,some high-tech companies could not be listed on the main board or the GEM due to poor performance and other factors.They could only choose the new third board.However,during the development of the New Third Board,there are problems such as inactive market transactions,insufficient liquidity,and low corporate valuations,which make it difficult to meet the financing needs of high-tech companies.The emergence of science and technology board provides a better financing platform for these high-tech companies,which can give them a more reasonable valuation.Therefore,many new third-board companies appear to be hoping to transfer funds to the board,to meet their financing needs,and to promote the company's rapid development.This article selects Western Superconducting Material Technology Co.,Ltd.to conduct a detailed analysis of the process,details and overall performance of the board after it is turned,and then draws some inspiration and suggestions.Firstly,review the domestic and foreign literatures,summarize the research status of the domestic and foreign scholars on the transfer board mechanism,registration system and other related fields,and lay a solid theoretical foundation.Secondly,the current development of the New Third Board and the Science and Technology Innovation Board is briefly described,and the main business,financial status,and industry status of the western superconductor are understood from different perspectives.Then I made an in-depth analysis of the listing of the Western Superconducting Transfer Board: The motivation of the Western Superconducting Transfer Board was mainly to expand the scale of operations,deepen technological innovation and meet the needs of working capital;Western Superconductor's continuous operations,financial indicators,corporate governance and other aspects Both meet the requirements for the listing of the science and technology board;Western Superconductor,as the first company to bring the "three types of shareholders" to apply for the listing of the science and technology board,has clearly defined the transition period for its "three types of shareholders";The time cost of the guide during the transfer is relatively low;after the transfer,its valuation level and stock trading have improved significantly.Finally,through in-depth research on the listing of the Western Superconducting Transfer Board,we summarize its successful experience mainly through continuous technological innovation,perfect information disclosure,and proper handling of the "three types of shareholders".Regarding the construction of the capital market,this article proposes to reform and improve the construction of the new third board supporting system,standardize the operation of the "three types of shareholders" and steadily promote the registration system. |
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