Shanghai: Shanghai Stock Exchange's Sci-Tech Innovation Board receives IPO applications from 9 new companies, with 14 companies completing their initial public offerings and being listed.

The Shanghai municipal government held a press conference, where Deputy Director Zhao Guofu of the Shanghai Securities Regulatory Bureau said that over the past year, the Sci-Tech Innovation Board has accepted IPO applications from 9 companies and 14 companies have completed their initial public offerings, covering industries such as semiconductors, new materials, and high-end equipment. The criteria of "light assets, high R&D investment" have been implemented. The effectiveness of the "green channel" for Sci-Tech Innovation Bonds issuance is beginning to show. The positive effects of the pilot reform of the issuance underwriting system are gradually emerging. The new stocks on the Sci-Tech Innovation Board are subject to a 3% high price exclusion ratio, and the pricing system is overall cautious and reasonable. Additional requirements have been set for the market value of Sci-Tech Innovation Board stocks held by offline investors, further guiding the establishment of a value investment and long-term investment philosophy. We have also revised and issued rules for managing offline investors in the initial public offering and guidelines for classification evaluation management, strengthening supervision over behaviors such as abnormal bid subscription and frequent high bids.