The Research On The Transferring Motivation And Effect Of The New Third Board’s Medicine Stone Technology

As the main venue for SME financing in China and a component of the multi-level capital market,the New Third Board has shown a rapid development trend after expansion in 2013.The number of listed companies is currently higher than the total number of companies listed on the Shanghai and Shenzhen stock exchanges.However,in recent years,the huge NEEQ has presented the contradictory problems of increasingly insufficient market liquidity and the continuous development of listed companies,which has caused many high-quality enterprises to move towards the transfer board and set off a wave of transfer board booms.The subsequent transfer board problems have hindered The enterprise transfer and subsequent development.In recent years,the country has made many efforts on the issue of the transfer of the NEEQ.At present,it is time for the NEEQ to carry out in-depth reforms,and there is still room for improvement in various systems.This article selects Nanjing Yaoshi Technology Co.,Ltd.(hereinafter referred to as Yaoshi Technology)as the blueprint for research.As the shortest duration and the highest stock price after the transfer,the company deeply analyzes the reasons for the consequences and problems encountered before the transfer of Yaoshi Technology to the new three board.It is of certain value to improve,promote the transfer of enterprises and the development of enterprises after the transfer.This article mainly uses case analysis,quantitative analysis and qualitative analysis,comparative analysis and event-based analysis to comprehensively explore the environmental status,motivations and effects of the pharmaceutical stone technology transfer board,analyze the causes and consequences of this case,and finally summarize and analyze the new three boards The transfer board enterprises encountered a series of problems in the process before and after the transfer,and found out the corresponding problem solving measures.Through analysis and demonstration,the main conclusions of this article are as follows:(1)In terms of the status of the NEEQ market and the environment for the transfer of pharmaceutical technology,since 2006,the overall size of the NEEQ market has shown a rise and then decline,and the manufacturing enterprises are in the majority.The number of transfer companies is gradually increasing and the auditing is becoming stricter.At the same time,through analysis of the macro and micro environment,it is found that the pharmaceutical stone technology is in a favorable environment before the transfer.(2)Based on the research on the motivation for the transfer of Yaoshi Technology,the lack of liquidity in the New Third Board market,the transfer policy and the development of the regional capital market have promoted the transfer of Yaoshi Technology from the outside,and the demand for financing,brand building,and technological innovation has further led to The company has motives for transfer,and the feasibility analysis of transfer is a necessary prerequisite.(3)By analyzing the transfer effect of Yaoshi Technology,we can see that from the market level,the stock price of Yaoshi Technology after the transfer is better,and the liquidity of the stock has been significantly improved.From the company level analysis,it can be concluded that after the transfer,the company’s financing,brand value and technological innovation have good results.In terms of financial effect and company value,the transfer to the market makes the overall financial situation of Yaoshi Technology Company good.The company’s market value and strategy Value is also greatly improved on the Growth Enterprise Market.(4)Based on the liquidity problems faced before and after the transfer,the transfer costs and subsequent risks,put forward corresponding suggestions: from the perspective of improving the flow of the new three boards,put forward the "timely launch of a mixed market-making transaction model" and "establish liquidity as the goal The market maker’s evaluation incentive mechanism and other improvement measures,based on the perspective of promoting the transfer of the new three board enterprises,put forward suggestions such as "improving the transfer board mechanism and standardizing the selection of selected layers",and proposed "continuously upgrade the company Achievements,strengthen appropriate image promotion "and other perfect ideas.This article is based on the exploration of the motivation and effect of the transfer of the new three board companies,and takes Yaoshi Science and Technology as the research object,analyzes the problems encountered before and after the transfer of the Yaoshi Technology,and puts forward specific suggestions to provide ideas for the subsequent development of the Yaoshi Technology Transfer It has a good promotion effect on the new three board companies that are going to transfer,and also provides a certain reference for further improving the new three board market.