Last year, companies listed on China’s “new third board,” which serves as a financing platform for small and medium-sized enterprises (SMEs), had a stable performance. As per the National Equities Exchange and Quotations, a total of 6,187 listed companies, comprising approximately 95 percent of the total, have released their annual reports. These firms had a collective revenue of 1.49 trillion yuan (215.59 billion U.S. dollars) in 2022, with a net profit of 52.77 billion yuan. Nearly 70 percent of these firms were profitable, and 346 of them had a net profit exceeding 50 million yuan.
As of April 28, the number of “little giant” firms had increased to 689, up by 358 from a year earlier, and more than 80 percent of them were engaged in advanced manufacturing or modern services. These “little giant” firms are the new SME elites that specialize in niche markets, possess cutting-edge technology, and have great potential.
The board, which was established in 2013, provides SMEs with a new financing avenue that has low costs and straightforward listing procedures. In 2022, the board raised 23.2 billion yuan, a 12.62 percent increase from the previous year.