Recently, the Beijing Equity Trading Center (Beijing fourth board market) introduced scientific and technological innovation board based on existing market boards. It is said that during the next three to five years, Beijing fourth board market will attract 300 to 600 high-tech enterprises in technological innovation on list. To ensure the quality of listed enterprises, experts will evaluate the patents value of enterprises to help them break the bottleneck of financing, and promote some high-quality enterprises to enter higher capital markets.
“Since most investors prefer to chase ‘star’ enterprises, the technological innovation board is to let small and medium-sized enterprises become ‘star’ enterprises. Our goal is to provide comprehensive financial services for the technology-based small and medium-sized enterprises that are in start-up or emerging stage and have not yet entered higher-level capital markets.” Cheng Jiuyan, the deputy general manager of Beijing Equity Trading Center, told a reporter in an interview.
“There are many innovation-oriented scientific and technological enterprises which have strong demand for capital that located in Beijing.”Cheng Jiuyan said. As a regional equity service platform in Beijing, scientific and technological innovation board provides customized service and financial services for small and medium-sized enterprises in Beijing.
“In recent years, in order to promote innovation and entrepreneurship, the central and local governments have introduced a number of favorable policies. To scientific and technological innovation board, an important function is to take advantage of these policies to satisfy enterprises’ demand and maximize its value.”Cheng Jiuyan said.
To ensure the quality of listed companies, scientific and technological innovation board has invited a group of experts who are from the finance, audit, asset evaluation and other areas to check the listed companies. “Our review on the enterprises include two programs, namely, technical experts’ evaluation on the value of patents and institution investors’ evaluation on the business value of the enterprises. Solid technology and intellectual property layout are important assessment indicators.”Cheng Jiuyan stressed. They will select some potential enterprises and dig out the patented technologies with high commercial value, which will be presented to investors.
“Today, for scientific and technological innovation enterprises, financial support is not their only demand. Faced with the practical needs of enterprises, scientific and technological innovation board will rely on more than 200 service agencies to provide personalized financial services for the enterprises with fast growth and market potential.” Cheng Jiuyan said. Since launched in December 2013, the fourth board market has offered services to over 2,200 enterprises, and dozens of companies have entered the new third board, GEM and other higher level of capital market from Beijing fourth board market.
“Scientific and technological innovation board is another new pattern on the capital markets, which needs more practice standard to entry, supervisory measures, elimination mechanism, and transfering of listing mechanisms, etc.. On one hand, intellectual property is an important listing requirements factor of scientific and technological innovation board; on the other hand, listed companies in scientific and technological innovation board are likely to encounter the problem of intellectual property rights.” Tao Xinliang, dean of Intellectual Property Institute of Shanghai University, pressed in the interview. Companies intended to raise funds on scientific and technological innovation board should further enhance the awareness of IPR protection, and build intellectual property systems within the enterprise in order to deal with intellectual property risks in advance. (by Chen Jie)