140,000 Employees of Companies Listed on the SSE STAR Market Received Equity Incentives as R&D Investment Soared 10.7% over Three Years

Cui Wenjing, Financial Street Watch

News by Cui Wenjing in Beijing, reporter of the 21st Century Business Herald: The SSE STAR Market has always been the first choice for companies to go public with its higher IPO valuations. Hard tech companies with sci-tech innovation attributes, especially those that meet the national strategic needs, are favored by the STAR Market.

The Eight Measures on Deepening the SSE STAR Market Reform and Supporting Scientific and Technological Innovation and the Development of New Quality Productive Forces (the "Eight Measures"), issued on June 19, 2024, provide a clearer framework for the actions of listed companies on the STAR Market and the review process for IPO applicants.

A closer look at the changes in listed companies on the STAR Market since the release of the Eight Measures reveals four new signals.

① R&D efforts have been further increased. In 2024, the total annual R&D investment in the STAR Market reached 168.078 billion yuan, with a compound growth rate of 10.7% over the past three years.

② The activity of M&A has increased. Since the release of the Eight Measures, the STAR Market has seen the disclosure of over 100 industrial M&A deals, with total announced transaction values exceeding 33 billion yuan.

③ The coverage of equity incentives has expanded. As of the end of May 2025, over 430 companies listed on the STAR Market had introduced more than 760 equity incentive plans. These plans cover over 70% of the companies listed on the STAR Market and involve more than 140,000 directors, senior executives, core technical staff, and key business personnel.

④ Companies are placing greater emphasis on quality improvement and investor returns. In 2024 and 2025, 470 and 479 companies listed on the STAR Market disclosed their annual "Corporate Value and Return Enhancement" action plans, respectively, accounting for over 80% of all companies. Additionally, the constituents in the STAR 50 Index and STAR 100 Index have achieved full coverage for two consecutive years.

Source: https://m.21jingji.com/article/20250611/herald/b917e6af0577829927da04a5bf31b60e.html? t=13217

The above information is provided for reference purposes only and does not constitute investment advice.