On July 22, 2019, the board welcomed the first batch of 25 listed companies. Today, the board is about to usher in the fourth anniversary of the opening, this is a historic moment. Looking back over the past four years, the development of the board has injected unprecedented vitality into the ecology of China's capital market and introduced a more efficient and broad platform for China's science and technology enterprises.

As the first "experimental field" for the reform of my country's stock issuance registration system, the Science and Technology Innovation Board has adhered to the scientific and technological innovation development strategy for four years, and has gathered a group of scientific and technological innovation companies with high market recognition and strong R & D capabilities, which has promoted the capital market The profound changes in structure and ecology also strongly support the transformation and upgrading of the real economy.

according to the statistics of flush iFinD, as of July 17, the sci-tech innovation board has completed 549 IPOs and raised a total of 862.375 billion billion yuan. Of the 545 IPOs with comparative data, 374 over-offerings accounted for 68.62 per cent, showing to some extent that investors are optimistic about the growth and prospects of CRE companies.

sco board has completed 549 IPOs and raised more than 10 billion yuan

On June 13, 2019, the SSE Science and Technology Board opened. On July 22, the first batch of 25 listed companies opened, officially opening a new chapter in the deepening reform of China's capital market.

four years later, as of July 17, 2023, the board has completed 549 IPOs, 542 listed companies, with a total market value of 6.92 trillion yuan. After the opening of the market in 2019, the board has maintained the normal pace of issuance and listing, with 143, 162 and 123 listed companies completed in 2020, 2021 and 2023 respectively, and as of July 17, a total of 46 companies completed IPOs in 2023.

from the point of view of the funds raised, a total of 272 companies actually raised more than 1 billion yuan and 21 companies raised more than 5 billion yuan. Among them, SMIC (688981), Baiji Shenzhou (688235), SMIC Integration (688469), United Film Medical (688271), Haiguang Information (688041), China Communications (688009) and JinkoSolar (688223) raised more than 10 billion yuan.

SMIC, which went public on July 16, 2020, has become the "king of fundraising" since the opening of the board with a fund-raising amount of 53.23 billion yuan, and also ranks fifth in the history of A- shares. Public information shows that SMIC was established in 2000 and is one of the world's leading integrated circuit wafer foundry companies. It is also a professional wafer foundry company with the most advanced technology, the largest scale, the most complete supporting services, and transnational operations in China.

In addition, Baiji Shenzhou raised more than 20 billion yuan. According to the data, Baiji Shenzhou, which was listed on the board on December 15, 2021, raised a total of about 22.16 billion yuan. It is worth mentioning that the company is currently one of the four leading companies in the field of innovative drugs in China. It has been listed on the Nasdaq and the Hong Kong Stock Exchange in 2016 and 2018. After the listing of the Science and Technology Innovation Board in 2021, it is the only one in China. Innovative pharmaceutical companies listed in three places.

Nearly 70% of companies over-raised

according to the prospectus, SMIC plans to raise 20 billion yuan, but the actual amount of funds raised is 53.23 billion yuan, the excess amount of funds raised is 33.23 billion yuan, and Baiji Shenzhou plans to raise 20 billion yuan, but the actual total amount of funds raised is 2.16 billion yuan more than planned.

in fact, of the 549 companies that have raised funds in total, except for aggregate stone chemical (688669), jinke environment (688466), lingzhi software (688588) and jiete biology (688026), 374 of the other 545 companies that have listed plans to raise funds actually raised funds, accounting for 68.62.

In terms of over-subscription ratio, he Mai shares (688032), nano core micro (688052), fuxin software (688095), yuneng technology (688348), kangxinuo (688185), wanrun new energy (688275), Japan union technology (688531), core guide technology (688230), aotai biology (688606), dongxin shares (688110), national core technology (688262), nanmo biology (688265) and other 104 companies have exceeded the proportion of fund-raising. more than 100 percent.

Industry insiders pointed out that the IPO market is a market constrained by supply and demand. The reason why there are many over-offerings is that, on the one hand, the market has excess liquidity and seeks short-term benefits in the capital market; on the other hand, it is because the companies that can over-raise are relatively better expected to attract more investors. The large-scale over-raising of the company shows to a certain extent that investors are optimistic about the growth and prospects of the company.

companies that actually raised more than 1 billion yuan and accounted for more than 100% of the planned capital

code name plan fund raising actual fund raising over fund raising amount excess ratio

688981.SH SMIC 200.0 000 532.3019 332.3 019 166.15%

688275.SH wanrun new energy 12.6209 63.8858 51.2 649 406.19%

688052.SH nano-core micro -7.5000 58.1118 50.6 118 674.82%

688032.SH hemai shares 5.5792 55.7800 50.2 008 899.78%

688220.SH Aojie Technology 23.8000 68.8272 45.0 272 189.19%

688185.SH CONCINO 10.0000 52.0081 42.0 081 420.08%

688169.SH Stone Technology 13.0157 45.1867 32.1 710 247.17%

688608.SH Hengxuan Technology 20.0000 48.6210 28.6 210 143.11%

UAV 16.4000 43.6725 27.2 in 688297.SH 725 166.30%

688348.SH yoneng technology 5.5552 32.6000 27.0 448 486.84%

688120.SH huahai qingke 10.0000 36.4427 26.4 427 264.43%

688110.SH dongxin shares 7.5000 33.3677 25.8 677 344.90%

688111.SH Jinshan office 20.5013 46.3186 25.8 173 125.93%

688739.SH into large biological 20.4000 45.8150 25.4 150 124.58%

688095.SH Foxit Software 4.0736 28.7190 24.6 454 605.00%

688531.SH UFJ Technology 6.0000 30.2495 24.2 495 404.16%

688439.SH Zhenhua Scenery 12.0046 33.4950 21.4 904 179.02%

688409.SH fuchuang precision 16.0000 36.5791 20.5 791 128.62%

688353.SH huasheng lithium 7.0000 27.5380 20.5 380 293.40%

688503.SH Polysum Material 10.2687 30.8000 20.5 313 199.94%

688262.SH Guoxin Technology 6.0251 25.1880 19.1 629 318.05%

688082.SH SHANGHAI 18.0000 36.8524 18.8 524 104.74%

688281.SH Huaqin Technology 12.8000 31.5833 18.7 833 146.74%

688083.SH Zhongwang Software 6.0058 23.3064 17.3 006 288.07%

688211.SH medium branch micro to 13.3943 29.7660 16.3 717 122.23%

688230.SH Core Guide Technology 4.4376 20.2215 15.7 839 355.69%

688507.SH suochen technology 9.6890 25.3747 15.6 857 161.89%

688536.SH Sreipu 8.5000 23.1420 14.6 420 172.26%

688289.SH shengxiang biological 5.5658 20.1920 14.6 262 262.79%

688231.SH Ronda 10.0000 24.1179 14.1 179 141.18%

688301.SH yirui technology 7.7000 21.7672 14.0 672 182.69%

688606.SH otai bio -3.9838 18.0455 14.0 616 352.97%

688048.SH Chang Guang Hua Xin 13.4804 27.3912 13.9 108 103.19%

688279.SH Feng Technology 5.5544 18.9345 13.3 801 240.89%

688072.SH Tuojing Technology 10.0030 22.7283 12.7 253 127.22%

688261.SH east micro semi-conductive 9.3869 21.8973 12.5 104 133.28%

688265.SH Nanmo Bio -4.0000 16.4932 12.4 932 312.33%

688380.SH Micro-semi-conductive 7.2885 19.4418 12.1 533 166.75%

688623.SH Dual Technology 6.5158 18.6122 12.0 965 185.65%

688391.SH Juquan Technology 5.1109 16.5600 11.4 491 224.02%

688293.SH OPM 5.0267 16.4371 11.4 104 227.00%

688576.SH Xishan science and technology 6.6123 17.9940 11.3 817 172.13%

688489.SH three untrusted 4.0343 15.0995 11.0 652 274.28%

688337.SH Puyuan fine electricity 7.5000 18.4633 10.9 633 146.18%

688521.SH core original shares 7.9000 18.6174 10.7 174 135.66%

Catalyst 7.8442 18.4570 in 688267.SH 10.6 127 135.29%

688581.SH ANJETH 7.7070 18.2033 10.4 963 136.19%

688392.SH proud into ultrasonic 4.2475 14.5919 10.3 444 243.54%

688318.SH Wealth Trend 7.7799 17.9052 10.1 253 130.15%

688766.SH pran shares 3.4545 13.4861 10.0 316 290.39%