The first batch of four Science and Technology Innovation Board 50 ETFs were issued today, with December 31, 2019 as the base date and 1000 points as the base point. It consists of 50 securities with large market capitalization and good liquidity selected from the Science and Technology Innovation Board. The composition is adjusted quarterly to reflect the overall performance of a group of representative science and technology innovation companies.
Currently, it has been learned through institutional channels that the Huaxia Science and Technology Innovation 50 ETF has accumulated subscription amount exceeding 10 billion yuan by 10:30, with an estimated allocation ratio of around 25%. Huatai Bairui has accumulated subscription amount of 4 billion yuan, with an estimated allocation ratio of around 40%.
Speaking of the differences between the Science and Technology Innovation Board and the Growth Enterprise Market, they mainly include:
Firstly, the positioning of the boards is different. The Science and Technology Innovation Board focuses on "technology" and is an independent new board separate from the existing main board market, and it conducts a pilot registration system within this board. The Growth Enterprise Market mainly adapts to the trend of relying more on innovation, creation, and creativity, and mainly serves growth-oriented innovative and entrepreneurial enterprises, supporting the deep integration of traditional industries with new technologies, new industries, new formats, and new models.
Secondly, the listing venues are different. Stocks on the Science and Technology Innovation Board are listed on the Shanghai Stock Exchange, while stocks on the Growth Enterprise Market are listed on the Shenzhen Stock Exchange.
Thirdly, the supported industries are different. The Science and Technology Innovation Board has a clear "white list" positioning, and it explicitly states that the declared companies should belong to six major fields: new generation information technology, high-end equipment, new materials, new energy, energy conservation and environmental protection, and biomedicine. The Growth Enterprise Market emphasizes inclusiveness and mainly supports innovative and entrepreneurial enterprises that meet the development direction of high-tech industries and strategic emerging industries, as well as other enterprises that meet the positioning of the Growth Enterprise Market.
In addition, there are also different requirements in terms of listing standards, investment thresholds, and delisting standards between the two boards.