Henan Xinsan board listed enterprises up to 153 Zhengzhou and other land awards

Abstract Since the expansion of the New Third Board in early 2014, less than two years, the number of listed companies in the New Third Board has already left behind the number of listed companies with 30-year A-shares. At the moment, thousands of companies waiting in line for trials have accidentally formed a non-...
Since the expansion of the New Third Board in early 2014, less than two years, the number of listed companies in the New Third Board has already left behind the number of listed companies with 30-year A-shares. At the moment, thousands of enterprises waiting in line for trials have become a big "depression lake". Dahe Daily reporters found that the policy dividends given to the New Third Board market from the national level, to the local government's financial subsidies to listed companies, under the multi-level policy "irrigation", made this fertile soil.

From a few hundred thousand to more than one million, each city is “generously generous”
At present, the subsidy policy for the new wave of the New Third Board is being introduced.

On October 27th, Zhengzhou issued the “Implementation Opinions on Zhengzhou City's Financial Support for Stable Growth and Adjustment Structure to Promote Double Innovation and Increased Power”, in which the incentive policy for enterprises that successfully listed the new three boards was re-defined, giving a one-time 200,000 yuan. Yuan rewards; for enterprises that use bonds or bills to raise funds, they will be awarded a prize of 1‰ and a maximum of 500,000 yuan. The term is tentatively set for 5 years.

In the early August, the “Three-Year Action Plan for the Listing of the New Third Board” of Xinxiang City Enterprise (hereinafter referred to as the “3 Year Action Plan”) was approved and officially implemented from that date. According to the requirements of the three-year action plan, Xinxiang City's “New Third Board” listed enterprises reached 10 in 2015, and strive to reach 15; in 2016, it will reach 30, and strive to reach 35; in 2017, it will reach 60, and strive to reach 70. The incentive subsidy for the listed “new three board” of enterprises has increased from 500,000 yuan to 1 million yuan per company last year, plus the second reward of county (city) and district government. The total subsidy of listed enterprises can reach up to 150. Ten thousand yuan.

For the “New Third Board” listed enterprises that have received the municipal financial incentives before the implementation of the three-year action plan and the reward funds are less than 1 million yuan, the municipal finance will complete the compensation according to the incentive policy.

According to incomplete statistics, the rewards for several new cities in Henan Province, including Jiaozuo, Fuyang and Pingdingshan, are also 500,000. The rewards given by Hebi, Luohe and other cities are 1 million. Policy red packets are still very effective. The data shows that as of October 26 this year, the number of listed companies in Henan New Third Board is 153, of which Zhengzhou, Luoyang, Xuchang and Xinxiang rank among the top four.

You make up for me, and the listed companies enjoy multiple subsidies.
In fact, compared with the city level, the rewards of the counties and districts are not only inferior, but more generous.

Taking Neixiang County as an example, the “Opinions of the Neixiang County People’s Government on Accelerating the Cultivation of Key Industrial Enterprises”, which was promulgated in May this year, clearly stated that 1 million rewards will be given to the listed companies in the New Third Board.

In contrast, the incentive policy of Zhengzhou High-tech Zone is more "superimposed". The data shows that among the 60 new three-board enterprises in Zhengzhou, the high-tech zone accounted for 38. According to relevant persons, according to relevant policies, Zhengzhou High-tech Zone Enterprise New Third Board listing can not only enjoy the Zhengzhou City policy award, but also get the 1 million reward of Zhengzhou High-tech Zone. According to the reporter, since 2008, Zhengzhou High-tech Zone has invested more than 40 million in this regard.

However, there are also many counties and districts that have implemented progressive and step-by-step subsidy incentives, which seems to be more targeted. Taking Luoyang High-tech Zone as an example, the management committee will give a one-time reward to the enterprises that plan to be listed on the “New Third Board” through the intermediary institutions that have the qualifications for securities business registration and complete the restructuring in the high-tech zone listing authority. 200,000 yuan; after passing through the core of the brokerage, the management committee rewards each enterprise with 200,000 yuan. For the top 5 enterprises listed in the “New Third Board”, the management committee will reward 800,000 yuan for each enterprise at one time; for the 6th to 10th enterprises listed in the “New Third Board”, the management committee will reward each time. The company has 700,000 yuan; for 10 companies listed afterwards, the management committee rewards each enterprise with 600,000 yuan in one time; from the "new three board" successfully transferred, it is deemed to be successfully listed in China and overseas, and the management committee supports the listing. The policy will be rewarded by the difference.

However, this is only a straightforward subsidy, and from the province to the city to the county, the various policies for the new three-board enterprises, including tax and fee support, are numerous.

Improve the market, a big wave of policy dividends are coming
Compared with local financial support, the national level policy for the new three board market is more worthy of attention.

Just this month, the news that the New Third Board is about to usher in the second wave of policy dividends has become the focus of major media attention. It is reported that the document supporting the development of the New Third Board market at the level of the CSRC will be announced soon. The document includes tiered and other institutional arrangements. This will be the first time the SFC has issued a document to fully deploy the development of the New Third Board.

In fact, since the expansion of the New Third Board, policies from the national level have been continuously introduced.

Since the State Council issued the "Decision on Issues Related to the National SMEs' Share Transfer System" in 2013, the "Guiding Opinions on Accelerating the Construction of Mass Entrepreneur Innovation Support Platform" issued by the General Office of the State Council on September 26 this year, in various documents Give full play to the role of the financing of the New Third Board, accelerate the improvement of the new three board market, and establish a small, convenient, flexible and diversified investment and financing mechanism.

However, for the time being, in stark contrast to the continued surge in the number of listed companies, the transaction situation in the secondary market of the New Third Board is very unstable.

Compared with the first three months of 2015, the turnover of the New Third Board has been rising all the way. After May, the trading volume of the New Third Board has shown a sharp decline.

The downturn in the new three-board market and the serious shortage of liquidity have also triggered a series of problems such as corporate finance. It is not difficult to see that the reform and innovation of the new three-board market system seems to be imminent. In this regard, the deputy general manager of the national share transfer system company, spokesperson Yan Qiang also said in an article published not long ago that the new three boards should adapt to the structural and hierarchical changes of the market, and study and determine the basics of internal stratification. Principles, implementation plans and related institutional arrangements, the implementation of internal market stratification, this work will be launched during the year.

From the current point of view, the stratified consultation draft is expected to be released in the near future. At the same time, the share transfer system is also actively promoting supporting policies such as improving market liquidity.

How much does it cost for a company to list a new three board?
A local securities industry in Henan told reporters that the fees before and after the listing of the NEEQ mainly include: one-time payment before listing, continuous service fee collected after listing, interest distribution and inquiries of information disclosure obligors, etc. aspect.

However, the fees that need to be paid before listing include the commissioned filing fees, restructuring fees, and information disclosure service fees paid to brokers and various institutions. According to an executive of a new three-board listed company, it is about 2 million yuan.

Although this money does not seem worth mentioning compared to A-shares, for SMEs, 2 million is also a lot of expenses. However, in reality, the cost of listing companies has government subsidies to “pay”.

For the time being, even if subsidies have been difficult to fully cover costs, they can still offset most of the expenses.

According to the reporter, the government's subsidy for the listing of the New Third Board can be traced back to 2006.

In the same year, in order to promote the listing of a number of high-quality high-tech enterprises to the New Third Board market, the Beijing Municipal Science and Technology Commission issued a series of supporting policies, including: subsidies of 200,000 yuan for each high-tech enterprise that successfully transformed the shareholding system; Each company has a subsidy of 500,000 yuan.

As the scope of the New Third Board has gradually expanded from the Zhongguancun Park to all the high-tech parks in the country, and finally to the breakthrough of the high-tech park, the subsidy policy has been pushed to all parts of the country.

According to incomplete statistics, as of now, more than 180 counties and districts and parks in 27 provinces and cities across the country have implemented financial subsidies such as financial subsidies for the listing of the New Third Board, ranging from 300,000 yuan to 2 million yuan. At the same time, because the provincial, municipal, and district level awards or subsidy policies can be layered, the accumulated rewards of some enterprises can even exceed 3 million yuan.

It is understood that enterprises in the high-tech zone of Daqing City, Heilongjiang, if listed on the new three boards, the rewards at all levels can be combined to get 3.2 million. Dalian High-tech Zone enterprises can also get 2.9 million rewards.

Attachment: Subsidy policy for some cities and parks in the province <br> Zhengzhou: One-time reward of 200,000 yuan for successful listing.

Luoyang City: The reward for successful listing is 300,000 yuan.

Luoyang High-tech Zone: 1. The reward for completing the restructuring is 200,000 yuan; 2. The reward is RMB 200,000 for each family. Reward 800,000 yuan for the top 5 companies listed in the zone; 700,000 yuan for the 6th to 10th listed enterprises; 600,000 yuan for 10 companies listed afterwards; 3. Successfully transferred, Reward 2 million yuan.

Xinxiang City: The reward for successful listing is 1 million yuan.

Jiaozuo City: 1. The reward for successful listing is 500,000 yuan; 2. The reward for the listing of the board is 500,000 yuan.

Fuyang City: 1. Give a reward of not less than 500,000 yuan in the year of listing. 2. For enterprises that are listed on the transfer board, if the application materials are accepted, they will be rewarded with 500,000 yuan; for those who have successfully listed and raised more than 70% of the funds raised in the city, they will be rewarded with 1.5 million yuan, and the listed company will be refinanced through additional shares. Executives are given appropriate rewards.

Luohe City: The reward for successful listing is 1 million yuan.

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