Xinhua Finance｜The SSE Accepts the First Unprofitable Enterprise After "Eight Measures of the STAR Market" to Support the Development of New Quality Productive Forces

On November 29th, the official website of the SSE posted that Xi'an ESWIN Material Technology Co., Ltd.'s application for being listed on the STAR Market was accepted by the SSE. This is the first unprofitable enterprise accepted by the SSE since the issuance of Eight Measures on Deepening the Reform of the STAR Market to Serve Technological Innovation and the Development of New Quality Productive Forces (hereinafter referred to as Eight Measures of the STAR Market).

The acceptance of Xi'an ESWIN Material Technology Co., Ltd.'s STAR Market IPO application demonstrates the institutional inclusiveness of the capital market to support new quality productive forces and unprofitable science and technology enterprises with key core technologies, great market potential and outstanding sci-tech innovation attributes. As supporting measures of State Council’s Guideline on Strengthening Supervision, Forestalling Risks and Promoting High-Quality Development of the Capital Market", both Sixteen Measures of the China Securities Regulatory Commission for the Capital Market to Serve the High-level Development of Technology Enterprises and Eight Measures of the STAR Market see supporting high-quality unprofitable science and technology enterprises with key core technologies, great market potential and outstanding sci-tech innovation attributes to be listed as an important measure to provide a more inclusive and supportive policy environment for the issuance and listing of unprofitable science and technology enterprises with typical new quality productive forces.

In June 2024, the China Securities Regulatory Commission issued Eight Measures of the STAR Market. Among Eight Measures of the STAR Market, strengthening the "key & core technology" positioning of the STAR Market and supporting high-quality unprofitable science and technology enterprises with key core technologies, great market potential and outstanding sci-tech innovation attributes to be listed have drawn the most attention. This policy not only enhances the inclusiveness of the system but also makes it clear that the STAR Market will give priority to supporting "key & core technology" enterprises in new industries, new business formats and new technological fields.

From Xinhua Finance on November 29, 2024

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