欧美爱爱网站大奶A,久操免费视频播放,日本一区二区午夜福利视频

BEIJING, October 20 (TMTPOST) — Hong Kong Exchanges & Clearing Ltd. (HKEX) would amend the Main Board listing rules in 2023 to facilitate the financing of advanced technology companies that are not yet profitable in an effort to revive share sales.

HKSAR Chief Executive Lee Ka Chiu announced the plan in his maiden policy address on Wednesday.

The HKEX released a consultation paper on the same day, proposing to amend the listing rules to accommodate companies in a wide range of sectors, including next-generation information technology, advanced hardware and materials, new energy, and food and agriculture science.

According to the consultation paper, the HKEX sets the listing criteria for advanced technology companies based on expected market capitalization, research and development, revenue, operating period, and third-party investment. A company is considered to be commercialized if it has profits of no less than HK$250 million ($31.85 million) in the most recent audited fiscal year. In terms of market capitalization and research and development, HKEX proposes to apply different criteria to non-commercialized and commercialized companies.

The expected market capitalization requirement for listing a commercialized technology company is HK$8 billion ($1.02 billion) or more, which is equivalent to the standard of a unicorn company.

In view of the higher risk of non-revenue technology companies, the HKEX, while accepting them for listing, has set higher thresholds for such companies in certain aspects, such as a minimum market capitalization of HK$15 billion ($1.91 billion) at the time of listing.

In addition, R&D funding must be 15% or more of operating expenses for commercialized companies, and 50% for non-commercialized companies.

The listing rules also set additional requirements for non-commercialized companies to be able to prove, and disclose in the listing documents, a credible way to meet the commercialization revenue threshold. The company must have sufficient working capital (including the expected proceeds from the IPO) to cover at least 125% of its expenses for the next 12 months.

快報