What is the Science and Technology Innovation Board? What is the difference between the Science and Technology Innovation Board and the GEM?

After the GEM implements the registration system, there are certain similarities and differences between the rules of the GEM and the Science and Technology Innovation Board. The similarities are:

1. Initial public offering and listing on the GEM For stocks, there is no limit on the price increase or decrease in the first 5 trading days after listing. After the 5th day, the price increase or decrease limit for individual stocks is 20%.

2. The GEM after the registration system also adopts after-hours pricing transactions. After-hours pricing transactions are from 15:05 to 15:30 on each trading day. The after-hours pricing transaction declaration time is 9:00 on the trading day: From 15 to 11:30 and from 13:00 to 15:30, if trading is suspended during the opening period, you can continue to make declarations during the suspension period. If trading is still suspended at 15:00 on the same day, you cannot conduct after-hours pricing transactions. After-hours pricing declarations are valid on that day.

Differences:

1. New investors on the Science and Technology Innovation Board need to meet the average daily assets of more than 500,000 in the first 20 trading days and 2 years of stock trading experience to open, and registration Investors newly opening the GEM after the establishment of the GEM need to meet the average daily assets of more than 100,000 in the first 20 trading days and 2 years of stock trading experience before they can open.