China pharmaceutical promotion association and Hong Kong stock exchange held a closed door Forum on the establishment of innovation board

Source: on the afternoon of October 29, 2017, China pharmaceutical innovation promotion association invited representatives of some member enterprises to hold a closed door symposium with HKEx to discuss the innovation board to be set up by HKEx The symposium was presided over by Dr Tian Yuan, vice chairman of Pharmaceutical Innovation Investment Committee of China pharmaceutical promotion association and founder partner of Shenzhen Qianhai Yuanming capital Mr Zhong Chuangxin, senior vice president of listing and issuance service of market development section of Hong Kong stock exchange, was specially invited to attend the symposium Dr Tian Yuan, vice chairman of the pharmaceutical innovation investment committee of China pharmaceutical promotion association, presided over the closed door meeting, Mr Zhong Chuangxin introduced the basic situation of the innovation board to be launched by the Hong Kong stock exchange to the representatives of the members of China pharmaceutical promotion association, the advantages of listing in Hong Kong, the pre-trial mechanism and main requirements, and carried out exchanges around the framework of the innovation board, and listened to the opinions of the representatives He said that the significance of setting up innovation board outside the main board and gem of HKEx is to attract new economic companies to list in Hong Kong The innovative version is designed to be open to non-profit companies, companies with non-traditional governance structure and mainland Chinese companies to be listed in Hong Kong for the second time, which will provide a new financing channel in addition to Nasdaq for domestic pharmaceutical innovative enterprises, especially start-ups and unprofitable companies Mr Zhong Chuangxin, senior vice president of listing and issuance services of the market development section of the Hong Kong stock exchange, made a special report around the creation of new versions Focusing on the access threshold, valuation standards, policy supervision system, financing situation and transfer rules of the innovation board, Zhong Chuangxin had a serious exchange and discussion with the participants According to the suggestion that the R & D investment of innovative R & D companies can be landed in the first edition of entrepreneurship when it exceeds a certain value put forward by some participants, Zhong Chuangxin said that the entry threshold setting of the innovation board, especially how to value the potential of innovative products, needs to be carefully demonstrated If the threshold setting is too high, many potential companies will be lost, and if the threshold is too low, it will tend to converge with the new three boards, resulting in too many enterprises Many investors are afraid to enter into the situation of less trading volume He said that the rules of the innovation board are still in the process of soliciting opinions In the future, HKEx will change and optimize the listing rules related to each board according to the market demand, and finally provide more choices for innovative enterprises Participants are full of expectations for the upcoming innovation board Forum site