What are the rules of the GEM? GEM trading rules

The gem, also known as the second board market, that is, the second first trading market, refers to the main board outside the main board to provide financing channels and growth space for small and medium-sized enterprises and emerging companies that cannot be listed temporarily, and is an effective supplement to the main board market, which starts with 300. Most of the companies listed on the GEM market are engaged in high-tech businesses and have high growth potential, but they are often established for a short period of time, with small scale and outstanding performance. The GEM market is much riskier than the Main Board market.

Of course, the returns could also be much greater. The regulation of the secondary market is more stringent. At its core, it is "information disclosure".

The rules of the GEM are for the capital chain, and there are more rules between personnel management.

Hello, there are too many new rules on the GEM, 20% rise and fall, no limit on the rise and fall in the first five days, **have**cage requirements, and after-hours fixed** trading.

**Commission 1 account opening process, click on the avatar to view!!

When you start a meal, you have to spit out the fish bones, and you can't give the rice to others.

Hello, when the intraday trading volume on the first day of GEM listing reaches or exceeds 20% of the opening price of the day for the first time, the Shenzhen Exchange can temporarily suspend trading for 30 minutes;

When the first ** or ** reaches or exceeds 50%, the Shenzhen ** Exchange may impose a temporary suspension of trading for 30 minutes;

When reaching or exceeding 80% for the first time, the Shenzhen Exchange may temporarily suspend trading until 14:57.

**If the temporary suspension reaches or crosses 14:57, the Shenzhen ** Exchange will resume trading at 14:57 and conduct a resumption call auction for the declarations that have been accepted during the suspension period, and then match the price according to the principle of time priority before the resumption of trading.

During the temporary suspension period, investors can continue to file or withdraw their declarations.

Entrepreneurial Excavation Quiet Board Trading Rules:

1. The trading unit of GEM ** is shares, and the trading unit of investment ** is shares. The number of shares should be 100 shares or integer multiples. If there are less than 100 shares**, you can declare and sell at one time;

2. The unit of ** is per share**;

3. Implement a limit on the rise and fall, and the limit ratio is 10%.

1.Conditions for opening an account on the GEM.

Natural person investors with more than two years of trading experience can apply to open the GEM market.

Trade. The specific method of slag stimulation is: after the investor submits an application to the business department of the company, carefully read and sign the "GEM Market Investment Risk Disclosure" on the spot, and the above documents are signed for two trading days, and the company can open the GEM market transaction after completing the relevant verification procedures.

Investors can also withdraw their application during this period. Assuming that it is less than two years old, you need to copy the risk warning letter in the sales department to ensure that you know the risks of the GEM. Under the witness of the handling personnel of the company, the investor shall sign the risk disclosure letter at the business department of the company as required (investors who do not have two years of trading experience should also copy the "special statement").

**After the company completes the relevant verification procedures, it will open the GEM market for investors within the specified time.

2.Remark. In order to standardize the behavior of the GEM market, the market is maintained.

order to protect the legitimate rights and interests of investors, in accordance with the ** Law of the People's Republic of China.

**Measures for the Administration of the Exchange", "Decision on the Establishment of the Growth Enterprise Market (GEM)" and other relevant national laws and regulations.

The provisions of these rules are formulated.

The disadvantages of the GEM are basically the same as those in the main board market, and the implementation of the **T+1 circulation system, that is, the **** on the same day, cannot be sold on the same day, and must wait for the second trading day to sell.

The trading day of the business rental board is from Monday to Friday. Every trading day from 9:00 a.m. to 9:00 a.m

25 is the call auction time; 9:30 a.m. to 11:30 a.m., 1 p.m

From 00 to 3:00, there is a continuous bidding time. In case of national statutory holidays and the closing time announced by the Exchange, the GEM market will be closed.

Specific trading hours are specified:

Monday to Friday, 9:30 a.m. to 11:30 a.m. and 1:00 p.m. to 3:00 p.m. daily, except public holidays.

Call auction: 9:15 a.m. - 9:25 a.m., of which 9:15 - 9:20 can cancel the order, 9:20 - 9:25 can not cancel the order, 9:25 to the largest volume ** as the opening price.

Continuous bidding: 9:30 a.m. - 11:30 a.m., 1:00 p.m. - 3:00 p.m

Transaction order: **priority - the higher ** buy declaration is given priority to the lower ** buy declaration, and the lower ** sell declaration is preferred to the more ** sell declaration;

Time priority - the direction of buying and selling, ** is the same, the first to declare is given priority to the later one. The order of precedence is determined by the time when the transaction host accepts the declaration.

Price Limit:

In order to prevent excessive speculation, the trading rules also stipulate a limit on the rise and fall. According to the provisions of the current system, regardless of whether it is ** or sold, the range of the transaction within 1 trading day shall not exceed 10%, of which the rise and fall of ST and ST shall not exceed 5%.

The rules of delegation stipulate that:

1 lot = 100 shares, 1-99 shares are fractional shares, and less than 1 share is fractional shares.

**The order must be 100 shares (except for allotments), and the sell order can be odd shares, but if it is odd shares, it must be sold at one time. **During the suspension period, the order is invalid, the order is not valid for the whole 100 shares (except for the allotment), and the order exceeds the price limit is invalid.

**T1 Trading System:

The ** of the same day** cannot be sold on the same day, and can only be sold on the next trading day, and the funds sold on the same day cannot be withdrawn on the same day, and can only be withdrawn on the second trading day.

There are many more trading rules, but for beginners, you can participate in trading by understanding the basic rules.

What are the trading rules of the GEM**?

**Transactions are divided into the main board, GEM, ***, GEM transactions are mainly aimed at small and medium-sized entrepreneurial enterprises, so, do you know what the rules of the GEM trading market are?

The GEM listing rules are as follows:

1. Subject qualifications:

It must be established in accordance with the law and have been in continuous operation for more than 3 years (**** can be counted continuously if it is changed to a joint-stock company as a whole).

1) ** Noisy banquet has been approved by the China Securities Regulatory Commission and has been publicly issued;

2) The total share capital of the company shall not be less than 30 million yuan, and the public shares shall reach more than 25% of the total number of shares of the company, and the total share capital of the company shall exceed 400 million yuan, and the proportion of public shares shall be more than 10%;

3) The company has no major violations in the last three years, and there are no false records in the financial and accounting reports.

**Fig. Second, the enterprise requirements:

1) The registered capital has been paid in full, and the formalities for the transfer of property rights of the assets used by the promoters or shareholders for capital contribution have been completed. There is no material ownership dispute over the issuer's main assets;

2) There have been no major changes in the main business, directors and senior management in the past two years, and there has been no change in the actual controller;

3) It shall have sustained profitability and do not have the following circumstances:

1) The business model, product or service structure of Pinxiang Zen has undergone or will undergo significant changes, which will have a material adverse impact on the continued profitability of the issuer;

2) the position of the industry or the operating environment of the industry in which the issuer operates has changed or will change materially and adversely affect the continued profitability of the issuer;

3) There is a risk of significant adverse changes in the acquisition or use of important assets or technologies such as trademarks, patents, proprietary technologies, franchise rights, etc.;

4) The operating income or net profit of the most recent year is significantly dependent on related parties or customers with significant uncertainties;

5) The net profit in the most recent year is mainly derived from investment income outside the scope of the consolidated financial statements;

6) Other circumstances that may have a material adverse impact on the issuer's continued profitability.

**Trend. Extensions:

GEM: The GEM, also known as the second board market, is the second trading market, which refers to the trading market outside the main board that is designed to provide financing channels and growth space for small and medium-sized enterprises and emerging companies that cannot be listed on the main board for the time being, which is an effective supplement to the main board market and occupies an important position in the capital market.

1. Activate permissions first.

New GEM investors must meet the requirements of the previous 20 trading days, have average daily assets of not less than 100,000 yuan, and have 24 months of A-share trading experience.

Second, make up the qualifications for online play.

T day to buy new shares, calculated from T-2, push forward 20 trading days, the average daily holding of non-restricted A shares in the Shenzhen market, at least 10,000 yuan. In order to have the starting qualification for online play.

For every 5,000 yuan ** market value, it corresponds to a "subscription unit", that is, 500 shares. If the market value is less than 5,000 yuan, it is not counted as the quota.

The more market value you hold, the more units you can subscribe. However, the number of shares to be subscribed must be an integer multiple of 500 shares.

It doesn't have to be that complicated. Users who open an account and trade in Oriental Fortune**, as long as they open the Oriental Fortune APP, click the "Trade" button, subscribe for new shares in the second line, click in, and the amount of new shares can be subscribed at a glance, and they don't need to calculate it themselves. Under the registration system, there is no need to pay funds in advance for the new gem, and you will pay it after winning the lot.

As for whether the lottery is won, the result will be available on T+2 day. Dongcai** users can directly check the results and the amount payable in the lottery query.

New trading rules for the registration-based GEM**.

The selection of listed companies on China's Growth Enterprise Market includes not only high-tech industries dominated by electronic source imitation information, biomedicine, new materials, environmental protection, etc., but also enterprises with very high-tech content after the transformation of traditional industries with high and new technology.

The issuer shall meet the following conditions when applying for an initial public offering of shares:

1) The issuer is a share established in accordance with the law and has been in continuous operation for more than three years. If a limited liability company is converted into shares according to the original book net asset value, the continuous operation time can be calculated from the date of establishment of the limited liability company;

2) Continuous profit in the last two years, and the cumulative net profit in the last two years is not less than 10 million yuan; or profit in the latest year, and the operating income in the latest year is not less than 50 million yuan. Net profit is calculated on the basis of the lower before and after deducting non-recurring gains and losses;

3) The net assets at the end of the most recent period are not less than 20 million yuan, and there are no uncovered losses;

4) The total share capital after issuance shall not be less than 30 million yuan. Article 12 The registered capital of the issuer has been paid in full, and the formalities for the transfer of property rights of the assets used by the promoters or shareholders for capital contributions have been completed. There is no material ownership dispute over the issuer's main assets;

Listing ProceduresThe following procedures should be followed for public offerings** and listing on the GEM:

The first step is to restructure the enterprise and set up shares.

The second step is to conduct due diligence and counseling for the enterprise.

The third step is to prepare the application documents and declare them.

The fourth step is to review the application documents.

The fifth step is roadshow and inquiry.

The sixth step is issuance and listing.

1.The trading unit of the GEM ** is "shares", and the number must be 100 shares (shares) or an integer multiple of the orange hail at the time of trading.

2.The price limit is the same, and the price rise and fall ratio is 10%. Sun Wupin.

3.The implementation of the T+1 circulation system, that is, the ** of the same day cannot be sold on the same day, and it must wait until the second trading day.

Legal basis: Employment Promotion Law of the People's Republic of China

Article 11 The people at or above the county level shall regard the expansion of employment as an important duty and coordinate industrial policies and employment policies.

Article 12 The State encourages all kinds of enterprises to increase employment within the scope prescribed by laws and regulations by setting up industries or expanding their operations. The State encourages the development of labor-intensive industries and service industries, supports small and medium-sized enterprises, and increases jobs through multiple channels and methods. The State encourages, supports, and guides the development of the non-public sector of the economy, expands employment, and increases jobs.