What is the difference between the small and medium sized board and the GEM, and what is the differe

Updated on Financial 2024-03-23
4 answers
  1. Anonymous users2024-02-07

    1. Small and medium-sized enterprise board - it is a small and medium-sized company gathering board specially set up by Shenzhen ** Exchange in order to encourage independent innovation. The companies in the sector generally have the characteristics of fast revenue growth, strong profitability, high technology content, and good liquidity and active trading.

    2. The GEM, also known as the second-board market, is the second-class trading market, which is different from the main board market (main-board market), which is designed to provide financing channels and growth space for enterprises that need financing and development such as entrepreneurial enterprises, small and medium-sized enterprises and high-tech industrial enterprises that cannot be listed on the main board temporarily. GEM is an important supplement to the main board market and occupies an important position in the capital market. China's GEM listed companies start with "300".

    3. Compared with the main board market, the GEM is a first-class market with low threshold, high risk and strict supervision, and it is also a cradle for incubating technology-based and growing enterprises.

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  2. Anonymous users2024-02-06

    1. Difference: The GEM is listed on the Shenzhen Stock Exchange, and it starts with 300. The small and medium-sized board is listed on the Shenzhen Stock Exchange, starting with **002.

    The small and medium-sized board is essentially a transition to the GEM; After the establishment of the GEM, the small and medium-sized board still exists, and the two go hand in hand, and the risk of the GEM is greater than that of the small and medium-sized board.

    Second, small and medium-sized boards.

    1. The small and medium-sized sector, that is, the small and medium-sized enterprise board, refers to the entrepreneurial sector with a circulation of about 100 million yuan, which is relative to the main board market, and some enterprises cannot meet the requirements of the main board market, so they can only be listed on the small and medium-sized board market. The small and medium-sized board market is a kind of transition of the GEM, and the market of China's small and medium-sized board is 002.

    In May, with the approval of the Chinese Securities Regulatory Commission, the Shenzhen ** Exchange approved the establishment of the SME sector in the main board market. The establishment of the small and medium-sized enterprise board is an important measure to build a multi-level capital market, and it is also the prelude to the gem, and the finally unveiled small and medium-sized enterprise board did not meet a number of expectations of the market at this stage, such as full circulation, etc., and the high positioning of new shares has affected the stability of the index in a short period of time, but the historical mission of the small and medium-sized enterprise board will inevitably make this plate show more and more vigorous vitality in the future institutional innovation.

    3. GEM.

    1. The GEM, also known as the second-board market, is a different kind of first-class market from the main board market, which is designed to provide financing channels and growth space for start-up enterprises, small and medium-sized enterprises and high-tech industry enterprises that need to be financed and developed on the main board, which is an important supplement to the main board market and has an important position in the capital market. The market on China's GEM is at the beginning of 300.

    2. Compared with the main board market, the listing requirements of the GEM are often more relaxed, which is mainly reflected in the requirements of establishment time, capital scale, medium and long-term performance, etc. The biggest feature of the GEM market is that it has a low threshold for entry and strict requirements for operation, which helps potential small and medium-sized enterprises to obtain financing opportunities.

    3. Most of the companies listed on the GEM market are engaged in high-tech business and have high growth, but they are often established for a short period of time, with small scale and outstanding performance, but there is a lot of room for growth. It can be said that the GEM is a first-class market with low threshold, high risk and strict supervision, and it is also a cradle for incubating technology-based and growing enterprises.

    4. GEM (Growth Enterprises Market Board) is a secondary market second to the main board market, represented by the NASDAQ market, and specifically refers to the Shenzhen Growth Enterprise Market in China. It is quite different from the main board market in terms of listing threshold, regulatory system, information disclosure, trader conditions, investment risks, etc.

  3. Anonymous users2024-02-05

    1. The entry threshold of the small and medium-sized enterprise sector is relatively high, and the listing conditions are relatively strict, which is close to the existing main board market. The entry threshold of the GEM is low, and the listing is relatively relaxed.

    2. The operation of the SME sector adopts a non-independent subsidiary market model, also known as the parallel system of the two boards, that is, the SME sector is affiliated to the Shenzhen Stock Exchange.

    3. The operation of the GEM will adopt an independent model, that is, the GEM and the main board market and the Shanghai Stock Exchange will operate independently, with an independent organizational management system and trading system, and adopt different listing standards and regulatory standards.

    4. From the perspective of the chronological order of establishment, the small and medium-sized enterprise sector is ahead of the GEM. In other words, the small and medium-sized enterprise sector is the dimension of the future gem.

    5. The small and medium-sized board is issued by the small and medium-sized enterprise sector, and the amount of circulation below 100 million yuan can be called the small and medium-sized plate, and the small and medium-sized plate is relative to the main board market, because the conditions of some listed companies are not able to meet the requirements of the main board market, so these listed companies can only be listed in the small and medium-sized board.

    GEM, also known as the second market, is also a market corresponding to the main board market, those who cannot be listed on the main board market entrepreneurial enterprises and small and medium-sized enterprises, or high-tech enterprises, if they need to raise funds, can be listed on the GEM market.

  4. Anonymous users2024-02-04

    The SME Board is a small and medium-sized company gathering board specially set up by the Shenzhen ** Exchange in order to encourage independent innovation; GEM is a first-class trading market that provides financing channels and growth space for entrepreneurial enterprises that are temporarily unable to be listed on the main board market (including the main board and the SME board).

    The difference between the GEM and the SME Board is mainly the different criteria for listing

    Criteria for listing on the SME board.

    1. The company's net profit in the past three years is positive, and the cumulative amount is more than 30 million yuan, in fact, the company's net profit in the year before applying for listing should reach 50 million yuan;

    2. The company's net operating cash flow in the past three years has exceeded 50 million yuan, or the operating income has exceeded 300 million yuan in the past three years;

    3. After issuance, the company's share capital shall not be less than 50 million yuan.

    The conditions for listing on the GEM are relatively relaxed.

    1. The company has made profits in the last two consecutive years, and the cumulative net profit is not less than 10 million, or the last year has been profitable, and the net profit is not less than 5 million yuan, the revenue in the last year is not less than 50 million yuan, and the revenue growth in the last two years is not less than 30%;

    2. The net assets at the end of the most recent period are not less than 20 million yuan, and there is no unmade loss;

    3. The total share capital after issuance shall not be less than 30 million yuan.

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