Research On The Motivation And Effect Of Junshi Bio Cross-listing

The National Equities Exchange and Quotations is an important part of China's multi-level capital market system.After the expansion in 2013,the number of listed companies has increased rapidly every year,and has become the largest securities market in the world.However,with the continuous growth of enterprises,the NEEQ market has gradually failed to meet the needs of some enterprises in terms of financing scale and liquidity.In 2018,the number of new third-board companies began to enter negative growth,and more and more high-quality new third-board companies have the need to shift to higher-level capital markets.However,as the transfer mechanism has not yet been established,the mainland has higher listing conditions and longer approval time.At the same time,some overseas securities markets have also introduced new systems to attract more emerging and innovative industrial companies,and many new third-board companies have turned to international capital markets.This article mainly uses the status quo analysis method and case study method.First of all,it explains the definition of cross-listing,elaborates the theoretical basis,and then analyzes the current situation of the NEEQ market and the biomedical industry.Listing is a case,which introduces the basic situation of the company and the process of cross-listing.Through analyzing the company's financial status and SWOT analysis of the reasons for the company's cross-listing,and comparing the company's capital cost and market liquidity before and after listing,the company's cross-listing is analyzed.The effect of listing.Finally,it summarizes and proposes inspiration from the perspective of the company and the government,hoping to provide a reference for the new third board enterprises and the new third board market construction that are preparing to implement cross-listing.