The lottery winning rate of the North Exchange is calculated as follows: One lottery of new shares on the North Exchange is 100 shares.

The new shares of the Beijing Stock Exchange are allotted in accordance with the principles of proportional allotment and time priority, rather than drawing lots.

In other words, signing new shares in China not only depends on luck, but the probability of winning the lottery in China is also much higher than in Shanghai and Shenzhen.

There is no price limit on the first day of the IPO on the North Exchange, and market trading is subject to a 30% price limit.

During the continuous bidding period, set an effective price range for declarations that is 5% higher or lower than the benchmark price.

The rules for signing contracts are complicated, and the main principles are proportional allotment and time priority.

For example, assume that a total of 10 million shares of a new stock are issued, and the total subscription amount is 1 billion shares.

Shareholder Xiao Wang subscribed for 25,000 shares, or 250 lots.

First, the first round of proportional share allotment is carried out, and the winning rate is calculated as 10 million shares/1 billion shares=1%.

Xiao Wang subscribed for 25,000 shares, so based on the medium subscription ratio, theoretically he should receive 25,000 * 1% = 250 shares.

Each mark corresponds to 100 shares, so Xiao Wang can only be given 200 new shares first, and the remaining 50 shares are temporarily withheld.

All winners with less than 100 shares who have been deducted will be put together for the second round of allotment.

The second round of allotment will be allocated entirely according to the subscription time.

If Xiao Wang subscribes in advance, he can get 100 new shares.

So, this time I subscribed for 300 shares in one ***.

If the subscription time is late and the number of shares compiled in the second round has been divided by investors using the previous subscription time, then this time, Xiao Wang actually won 200 shares.

The Beijing Stock Exchange ("Beijing Exchange" for short) was registered and established on September 3, 2021. It is China's first corporate stock exchange approved by the State Council and is subject to the supervision and management of the China Securities Regulatory Commission.

The business scope includes providing venues and facilities for centralized securities trading in accordance with the law, organizing and supervising securities transactions, and securities market management services.

On the evening of September 2, 2021, in his speech at the 2021 China International Fair for Trade in Services Global Services Trade Summit, he announced that he would continue to support the innovative development of small and medium-sized enterprises, deepen the reform of the New OTC Market, establish the Beijing Stock Exchange, and create service-innovative small and medium-sized enterprise owners.

position.

On September 3, the China Securities Regulatory Commission publicly solicited opinions from the public on the relevant basic institutional arrangements of the Beijing Stock Exchange.

On September 3, Beijing Stock Exchange Co., Ltd. was established, with Xu Ming serving as chairman.

On September 10, 2021, the official website of the Beijing Stock Exchange was launched for trial operation.

On November 15, the Beijing Stock Exchange officially opened at Jinyang Building, Financial Street, Xicheng District, Beijing; on November 19, all eight Beijing Stock Exchange themed funds on sale were sold out, completing their "market debut."

The Beijing Exchange's guidelines state that the issuer must not be an enterprise engaged in preschool education, subject-based training, etc.