With the increase in the number of quality listed companies, the brand and scale effect of the Beijing Stock Exchange will gradually take shape.
The Beijing Stock Exchange (BSE) public offering filing and acceptance has recently reached a peak, with the number of companies in the queue increasing to 136 as of July 10.
From June 27 to July 10, 59 companies updated their issue audit status, of which 43 new applications were accepted for listing, 15 companies updated their audit status as having asked questions, and one company suspended the listing process.
In terms of performance, the overall profit level of the companies in the queue is comparable to those listed on the BSE. The median net profit for 2021 for the 136 companies in the line mentioned above is USD 42.11 million, while the figure for the 102 companies listed on the BSE is USD 42.82 million.
From the perspective of the quality of the firms in the queue, their quality has been significantly improved compared to the previous ones. Zhang Ke Liang, head of the market business of Bohai Securities (渤海证券), said that the establishment of the BSE has lowered the threshold for companies to list and improved the efficiency of listing. Hence, quality companies are also willing to list directly on the BSE.
Industry insiders said the BSE had demonstrated its different position from the Shanghai and Shenzhen bourses, which aims to serve the fundraising demands of innovative "little giants" companies, while the latter two focus more on blue-chip and big companies. It also showed that a market ecosystem accommodating to the development characters of SMEs had been formulated at the initial stage.
They also expect the speed of listing to accelerate, with the quality of companies listed on the BSE further improving.