Qiu Yong, chairman of the Shanghai Stock Exchange, mentioned in his speech at the 2026 Shanghai Stock Exchange International Investors Conference that the Shanghai Stock Exchange continues to strengthen the function of the Science and Technology Innovation Board as a main position to support scientific and technological innovation, optimize supporting institutional mechanisms, enrich science and innovation financial products, promote the gathering of innovative elements, and support the development of new quality productivity. In the first three quarters of 2026, the main business of companies listed on the Science and Technology Innovation Board grew strongly, and the net profit growth rate after deduction increased 6.7 times over the same period last year. R&D efforts continued to increase. R&D investment increased 26% year over year, and the median R&D intensity was 12.6%. Industrial clusters have been formed in the fields of integrated circuits, biomedicine, high-end equipment, etc., and a large number of science and innovation enterprises that have mastered core technology have developed and grown through the capital market. We have implemented a strategic plan for developing future industries, strictly controlling the “entry point” for listing, supporting the listing of high-quality “hard technology” companies in more fields such as quantum technology, biological manufacturing, and physical intelligence on the Science and Technology Innovation Board, and expanding the scope of application of the fifth set of listing standards on the Science and Technology Innovation Board to artificial intelligence models and commercial aerospace. At the same time, a package of refinancing optimization measures has been implemented to further enhance the convenience and flexibility of refinancing for high-quality listed companies and better adapt to the refinancing needs of science and technology innovation enterprises.

Qiu Yong, chairman of the Shanghai Stock Exchange, mentioned in his speech at the 2026 Shanghai Stock Exchange International Investors Conference that the Shanghai Stock Exchange continues to strengthen the function of the Science and Technology Innovation Board as a main position to support scientific and technological innovation, optimize supporting institutional mechanisms, enrich science and innovation financial products, promote the gathering of innovative elements, and support the development of new quality productivity. In the first three quarters of 2026, the main business of companies listed on the Science and Technology Innovation Board grew strongly, and the net profit growth rate after deduction increased 6.7 times over the same period last year. R&D efforts continued to increase. R&D investment increased 26% year over year, and the median R&D intensity was 12.6%. Industrial clusters have been formed in the fields of integrated circuits, biomedicine, high-end equipment, etc., and a large number of science and innovation enterprises that have mastered core technology have developed and grown through the capital market. We have implemented a strategic plan for developing future industries, strictly controlling the “entry point” for listing, supporting the listing of high-quality “hard technology” companies in more fields such as quantum technology, biological manufacturing, and physical intelligence on the Science and Technology Innovation Board, and expanding the scope of application of the fifth set of listing standards on the Science and Technology Innovation Board to artificial intelligence models and commercial aerospace. At the same time, a package of refinancing optimization measures has been implemented to further enhance the convenience and flexibility of refinancing for high-quality listed companies and better adapt to the refinancing needs of science and technology innovation enterprises.