On the first trading day of listing of new stocks on the Shenzhen Stock Exchange, the increase is limited to 44%, and the decrease is limited to 36%. After the first trading day, the increase or decrease is limited to 10%. The limit on the increase or decrease of the Shanghai Stock Exchange is the same as that of the Shenzhen Stock Exchange. There is no price limit for new stocks on GEM and Science and Technology Innovation Board in the first five trading days, and the price limit after five trading days is 20%.

The stocks on the Shanghai and Shenzhen Stock Exchanges implement a registration system. The stocks on the Shanghai Stock Exchange start with 60, and the stocks on the Shenzhen Stock Exchange start with 00. Stocks on the GEM and Science and Technology Innovation Board implement an approval system. Stocks on the GEM start with 30, and stocks on the Science and Technology Innovation Board start with 30. The board stocks start with 688.

Extended information

"Shenzhen Stock Exchange Stock Listing Rules" An issuer that applies for listing of its stocks on the Exchange after its initial public offering must meet the following conditions:

(2) The total share capital of the company is not less than 50 million yuan;

(3) The publicly issued shares reach the total number of shares of the company 25% or more; if the company's total share capital exceeds 400 million yuan, the proportion of publicly issued shares shall be 10% or more;

(4) The company has no major illegal activities in the past three years, and the financial accounting report has no false records;< /p>

(5) Other conditions required by the Exchange.

When an issuer applies to the Exchange for listing its initial public offering of stocks, it shall prepare a listing announcement in accordance with relevant regulations.

When an issuer applies to the Exchange for listing its initial public offering of stocks, it shall submit the following documents:

(1) Listing report (application);

(2) Resolutions of the board of directors and shareholders’ meeting for applying for stock listing;

(3) Copy of the company’s business license;

(4) Articles of Association;

(5) The issuer’s financial accounting reports for the past three years, which have been audited by an accounting firm qualified to engage in securities and futures-related businesses in accordance with the law;

(6) Sponsor agreement and listing sponsorship letter issued by the sponsor;

(7) Legal opinion issued by a law firm;

(8) Capital verification report issued by an accounting firm qualified to engage in securities and futures-related businesses;

(9) Documents proving that all the issuer’s shares have been held in custody by China Securities Depository and Clearing Co., Ltd. Shenzhen Branch (hereinafter referred to as the “Clearing Company”);

(10) Directors, supervisors and senior management Report on personnel holding the company's shares and "Directors (Supervisors, Senior Management) Statement and Commitment";

(11) Relevant information on the board secretary that the issuer intends to appoint or has appointed;< /p>

(12) Letter of commitment from the controlling shareholder and actual controller;

(13) Documents proving that the shares held by holders of issued shares before the public issuance have been locked in the clearing company;

(14) Newly added financial information and explanatory documents on major events (if applicable) from the time of issuance to before listing (if applicable);

(15) The latest IPO Instructions;

(16) Listing announcement;

(17) Commitment letter mentioned in Article 5.1.6 of these rules;

(18) Other documents required by the Exchange.

The issuer and its directors, supervisors, and senior managers shall ensure that the listing application documents submitted to the Exchange are true, accurate, and complete, and do not contain false records, misleading statements, or major omissions.

The shares issued before the issuer's shares are publicly offered shall not be transferred within one year from the date of listing of the issuer's shares.

When an issuer submits an application for listing its initial public offering of stocks to the Exchange, the controlling shareholder and actual controller shall undertake not to transfer or transfer the shares within thirty-six months from the date of listing of the issuer's stocks. Entrust others to manage the shares issued before the public issuance of shares of the issuer that are directly or indirectly held by the issuer, nor shall the issuer repurchase the shares that were issued before the issuer's shares were publicly offered by the issuer that it directly or indirectly holds.

The issuer shall announce the above commitments in the listing announcement.

If one of the following circumstances occurs one year from the date of listing of the issuer's shares, the controlling shareholder or actual controller may be exempted from complying with the above commitment upon application and with the approval of the Exchange:

(1) There is an actual control relationship between the two parties to the transfer, or they are both controlled by the same controller;

(2) Because the listed company is in crisis or facing serious financial difficulties, the transferee proposes to save the company The reorganization plan has been reviewed and approved by the company's shareholders' meeting and approved by relevant departments, and the transferee promises to continue to abide by the above commitments;

(3) Other circumstances identified by the Exchange.