Trading rules:
1. The trading unit of GEM stocks is "shares" and the trading unit of investment funds is "shares". The number of securities declared for purchase is 100 shares (copies) or its integral multiple. Securities with less than 100 shares can be declared and sold at one time.
2. The quotation unit of securities is "price per share". The minimum change unit of "price per share" is RMB 0.0 1 yuan.
3. The securities are subject to price limit, and the ratio of price limit is 10%. The price calculation formula for price increase and price decrease is:
Upper limit price of price fluctuation = (1 price fluctuation ratio) × closing price of the previous trading day (the calculation result is rounded to RMB 0.0 1 yuan).
There is no price limit on the first day of listing.
Motherboard rules:
Except for the trading risk control system on the first day of listing, the GEM trading system is consistent with the main board, and the existing trading rules are still applicable.
Increase or decrease ratio: 10%
Delivery system: T+ 1
Continuous bidding time:
9:30 - 1 1:30
13:00 - 14:57
Three lines of defense for "speculation" in GEM
When the opening price of the day rises or falls by 20% for the first time, the trading can be suspended for 30 minutes temporarily.
When the opening price of the day rises or falls by 50% for the first time, the trading can be suspended for 30 minutes temporarily.
When the opening price of the day rises or falls by 80% for the first time, the trading can be suspended until 14:57.
The difference between GEM and main board;
1, small and medium-sized board; Small and medium-sized board is relative to the main board market. China's main board market includes Shenzhen Stock Exchange and Shanghai Stock Exchange. Some enterprises can't meet the requirements of the main board market and can only be listed in the small and medium-sized board market. Small and medium-sized board market is the transition of GEM, and the market code of small and medium-sized board in China begins with 002.
2. Main board: The main board market refers to the traditional securities market, which is the main place for securities issuance, listing and trading in a country or region.
3. Growth Enterprise Market, also known as the second board market, refers to the securities trading market outside the main board, which provides financing channels and growth space for small and medium-sized enterprises and emerging companies that are temporarily unable to go public. It is an effective supplement to the main board market and occupies an important position in the capital market.
Growth enterprise market is characterized by low entry threshold and strict operation, which helps potential small and medium-sized enterprises to obtain financing opportunities.
The financial indicators in the issuance conditions of GEM are lower than those in the initial public offering conditions of the main board (including small and medium-sized board) in quantity. In terms of indicators, we refer to the practice of the main board, mainly select financial indicators such as net profit, main business income and distributable profit, and attach growth rate and net assets indicators. In addition, GEM has set two sets of standards for net profit/operating income, and the issuer can meet one of them.