The main board, also known as the first board, refers to the issuance and listing of venture companies on the national main board market.

The main board market refers to the securities market in the traditional sense and is the main place for the issuance, listing and trading of securities in a country or region.

The GEM, also known as the Second-board Market, is a second stock trading market. It is a type of securities market different from the Main-Board Market. It is designed for entrepreneurial companies that are temporarily unable to be listed on the Main Board.

The securities trading market provides financing channels and growth space for enterprises such as small and medium-sized enterprises and high-tech industrial enterprises that need financing and development. It is an important supplement to the main board market and plays an important role in the capital market.

The market code of GEM in China starts with 300.

Compared with the main board market, the GEM listing requirements are often more relaxed, mainly reflected in the requirements on establishment time, capital scale, medium and long-term performance, etc.

Since most of the companies listed on the emerging secondary board market tend to be entrepreneurial companies, it is also called the GEM.

The biggest feature of the GEM market is its low entry threshold and strict operation requirements, which helps potential small and medium-sized enterprises obtain financing opportunities.

The "New OTC Market" market originally refers to the Zhongguancun Science and Technology Park unlisted joint-stock company entering the agency share system for transfer pilot. Because the listed companies are all high-tech enterprises, they are different from the delisted companies in the original transfer system and the companies listed in the original STAQ and NET systems.

, so it is vividly called the "New Third Board".

The significance of the New Third Board is mainly for the company and will bring great benefits to the enterprise and the company.

At present, the New Third Board is no longer limited to non-listed joint-stock companies in Zhongguancun Science and Technology Park, nor is it limited to non-listed joint-stock companies in pilot areas such as Tianjin Binhai, Wuhan East Lake, and Shanghai Zhangjiang, but is a nationwide non-listed joint-stock company.

The trading platform is mainly aimed at small, medium and micro enterprises.

According to news on October 8, the China Securities Regulatory Commission’s document fully supporting the development of the New OTC Market will be released soon, and will include institutional arrangements such as stratification.

This will be the first time that the China Securities Regulatory Commission has made comprehensive arrangements for the development of the New OTC Market.

The E-board and Q-board are all financing models of the Shanghai Stock Exchange, which are of little significance.

Q board listing conditions: 1. The company has a fixed office space, 2. There are personnel who can meet the normal operation of the company, 3. The company has not revoked its business license, has no major violations of laws and regulations or has been severely punished by relevant national departments, 4.

The company’s directors, supervisors and senior management personnel do not have any of the conditions listed in Article 147 of the Company Law: (1) Having no capacity for civil conduct or having limited capacity for civil conduct; (2) Due to corruption, bribery, misappropriation of property, misappropriation

Property or damage to the order of the socialist market economy, was sentenced to a criminal penalty, and the execution period has not expired for five years, or was deprived of political rights due to a crime, and the execution period has not expired for five years; (3) Served as a director of a bankrupt company or enterprise, or

If the factory director or manager is personally responsible for the bankruptcy of the company or enterprise, it has not been more than three years since the bankruptcy liquidation of the company or enterprise was completed; (4) Served as the director of a company or company that has had its business license revoked or ordered to close due to violations of the law.

If the legal representative of an enterprise bears personal liability, it has not been more than three years since the company or enterprise's business license was revoked; (5) A relatively large amount of debt owed by the individual has not been paid off when due.

E-board listing conditions: 1. The business is basically independent and has the ability to continue operating.

2. There is no significant horizontal competition, obviously unfair related-party transactions, misappropriation of assets by shareholders with large amounts, or other behaviors that harm the interests of investors.

3. Have risk control capabilities in operation and management.

4. Sound governance structure and standardized operation.

5. The issuance and transfer of shares are legal and compliant.

6. If there is non-monetary investment in the registered capital, it should be established for a full accounting year.

7. It must be a joint stock limited company.

8. Other conditions required by the Shanghai Stock Exchange.

The more difficult ones are 6 and 7.

Gong Bo, chairman of Wuhan Equity Custody Trading Center, said that the "Technology Board" of Hubei's Fourth Board is the first special board "tailor-made" for technology-based small and medium-sized enterprises in the national securities OTC market. By integrating policy, capital, industry,

Intellectual and other resources, dedicated technology loans, guidance funds, venture capital, private equity bonds and other services to provide financing and intelligence for small, medium and micro enterprises.

The main board, the GEM, the new third board, the e-board, the q-board, and the technology board are all components of China's asset market. From high to low, the real listings should be the main board and the GEM.