Science and technology innovation board stock exchange rules

Science and technology innovation board stock exchange rules always contain the following 10 points.

1. The funds in the securities account in the 20 trading days before the opening of science and technology innovation board are forced to be less than 500,000 yuan, excluding the funds and securities that investors integrate through margin financing and securities lending. Participate in securities trading for more than 2 years.

Second, the rules of science and technology innovation board no longer require you to buy and sell 100 shares and their integer multiples. When investors trade, the number of transactions can be zero or whole. To apply for limit trading, a single transaction cannot be less than 200 shares and cannot exceed 65,438+10,000 shares. If it is a market declaration, a single transaction cannot be less than 200 shares and not more than 50,000 shares.

Three, science and technology innovation board stock auction trading price limit, the price ratio of 20%. There is no price limit in the first five trading days before and after the initial public offering and additional listing.

4. science and technology innovation board will increase the trading time of fixed price by 25 minutes (15:05- 15:30) after hours, and trade according to the closing price of the day.

Five, science and technology innovation board stocks can be used as the target of securities lending from the first trading day after listing. Moreover, the selection criteria of the underlying securities will be different from those of the main board A shares.

6. Online subscription requires holding a market value of more than 654.38+0 million yuan. Every 5,000 yuan of market value can be purchased by a buyer who regrets the purchase, and the part less than 5,000 yuan is not included in the purchase amount. In addition, the subscription unit for each new share is 500 shares, which is lower than the current provision of 65,438+0,000 shares, and the subscription quantity should be 500 shares or an integral multiple thereof.

7. The public information of stock trading on the Science and Technology Innovation Board is basically the same as the current practice of A shares on the main board.

8. The science and technology innovation board implements the registration system, emphasizing the whole process supervision before, during and after the reform. For enterprises to be listed, the exchange still needs to conduct corresponding audits.

Nine, allow enterprises with special equity structure that meet the relevant requirements to be listed on the science and technology innovation board. In order to protect the rights and interests of ordinary investors, the Shanghai Stock Exchange has made differentiated arrangements for different voting rights to prevent the abuse of special voting rights.

Ten, science and technology innovation board company delisting requirements are more stringent than the current system. Companies that hit the financial delisting index will be warned of delisting risk in the first year and directly delisted in the second year.

XI。 For companies that are not profitable at the time of listing on the Science and Technology Innovation Board, controlling shareholders, senior directors and specific shareholders may not reduce their pre-IPO shares or conduct cross-border mergers and acquisitions before the company achieves profitability.