Original title: China Securities Regulatory Commission improves requirements on R&D investment of enterprises to be listed on the Science and Technology Innovation Board

China news agency, Beijing, April 30 (reporter Chen Kangliang) - The CSRC announced on the 30th that it had revised the Guidelines on the Evaluation of the Attributes of Scientific Innovation (for Trial Implementation) (hereinafter referred to as the Guidelines), which moderately raised the requirements for the compound growth rate of R&D investment, number of invention patents and operating income of enterprises to be listed on the scientific innovation board.

The head of the relevant department of the CSRC said that in March 2020, the CSRC issued the Guidelines for the first time. Over the past four years, the Guidelines have played an important role in clarifying the evaluation criteria of sci-tech innovation attributes for all parties in the market, adhering to the positioning of the sci-tech innovation board, and highlighting the "hard technology" characteristics of the sci-tech innovation board. The purpose of this revision of the Guidelines is to guide science and technology innovation enterprises to pay more attention to scientific research investment and industrialization of scientific research achievements, and promote the quality of declaration enterprises to further improve. The revised Guidelines shall come into force as of the date of promulgation.

Specifically, the main amendments include: First, the "R&D investment amount in the last three years" in Item 1 of Article 1 of the Guidelines was adjusted from "more than 60 million yuan accumulatively" to "more than 80 million yuan accumulatively"; The third item "more than 5 invention patents applied to the company's main business" is adjusted to "more than 7 invention patents applied to the company's main business and capable of industrialization"; The fourth item "compound growth rate of operating revenue in the last three years" is adjusted from "reaching 20%" to "reaching 25%".

Second, Item 5 of Article 2, "more than 50 invention patents (including national defense patents) that form core technology and apply to main business", was adjusted to "more than 50 invention patents (including national defense patents) that form core technology and apply to main business and can be industrialized".

The above person in charge said that, in the next step, the CSRC will guide the Shanghai Stock Exchange to implement the rules.