1, the listing system and conditions are different. Science and technology innovation board aims to support science and technology enterprises and provide more convenient listing channels for small and medium-sized science and technology enterprises whose profits and scale are in the initial stage. So it is different from the traditional sector, and its listing system is the registration system. As long as the relevant conditions stipulated by the CSRC are met, you can log in to this section without approval. Growth enterprise market, on the other hand, implements the same auditing system as the main board, requiring a certain profit standard and asset scale every year. The submitted materials need the approval of the CSRC to be listed, which is relatively strict.

2. Investors have different thresholds. The entry threshold for investors in science and technology innovation board is relatively high, requiring that the average daily assets in the first 20 trading days should not be less than 500,000 yuan and the securities trading time should be more than 2 years. If investors do not meet the requirements, they can only participate in the public offering of funds. Growth enterprise market, on the other hand, has no capital requirements. It only needs to take the document to the counter for the first time. If the trading period is less than 2 years, it will be opened in T+5 trading days; if the trading period is more than 2 years, it will be opened in T+2 trading days.

3. The trading rules are different. The price of the science and technology innovation board did not go up in the first five trading days, and then it was 20%. T+ 1 trading mechanism is adopted, but after-hours fixed-price trading is added. The price limit of GEM is set to 20% on the first day of listing, and changed to10% from the next day; The number of single entrusted transactions of science and technology innovation board is not less than 200 shares, with an increase of 65,438+0 shares. The number of limit orders shall not exceed 654,380,000 shares, and the market price shall not exceed 50,000 shares. The number of entrusted transactions on GEM is an integer multiple of 100 or 100, and the maximum single transaction cannot exceed 1 10,000 shares.