Small-cap stocks are defined not by the number of circulating shares in the total share capital, but by the market value of the circulating shares.

The definition standard of small-cap stocks is measured by the size of the circulating market capitalization. Those with less than 1.5 billion yuan are considered small-cap stocks. In this way, the number of small-cap stocks accounts for more than 80% of the entire market. They mainly choose small-cap stocks with a circulating market value of about 600 million yuan to 1 billion yuan. Such a standard is obviously more reasonable than just looking at the size of the circulating market, because such a standard is a dynamic stock price valuation. The valuation of the stock price is not directly related to the size of the circulating market, but is related to the growth of the company. .