What is the significance of the New Fourth Board? What is the relationship between the third board and the fourth board?

What is the significance of the New Fourth Board? What is the relationship between the third board and the fourth board? The relationship between the New Fourth Board and the New Third Board:1.definition：The New Third Board is a national securities trading market.，The "New Fourth Board" is a regional equity trading center(Four boards)Listing and ringing the bell + the brand of capital education and services。From a definition point of view, the New Fourth Board and the New Third Board are not directly related.。

2.Different services are provided，The New Third Board is committed to becoming a platform for corporate financing，The New Fourth Board mainly provides companies with listing bell ringing and capital enlightenment services.。3.Stock price formation mechanisms are different，Enterprises listed on the New OTC Market form prices based on stock transactions，Enterprises listed on the regional equity trading center determine their stock prices based on the company's net assets.。4.Listing time is different，On the premise of meeting the listing conditions，It usually takes about 1 year to get listed on the New OTC Market.，The new fourth board only takes 1 month。

5.As a service object of the New Fourth Board-Regional Equity Trading Center(Four boards)It also has a lot in common with the New Third Board，Both are private markets，After listing, private placement bonds can be issued、preferred stock、Equity incentives、M&A integration、Realize board transfer、Obtain financing through IPO and other methods。

New Fourth Board application conditions：1.The cumulative net profit in the past 12 months is not less than 3 million yuan；2.The cumulative operating income in the past 12 months is not less than 20 million yuan，Or the cumulative operating income in the past 24 months is not less than 20 million yuan，And the growth rate is not less than 30%；3.Net assets are not less than 10 million yuan，And the operating income in the last 12 months is not less than 5 million yuan, etc.。

The significance of future investment on the New Fourth Board：Judging from the recently released "Notice of the General Office of the State Council on Regulating the Development of Regional Equity Markets"，2025regional equity markets(Also known as the "Four Boards" market)Will enter a year of standardized development。It can be said，"New Fourth Board" is positioned to serve the main board、Regional equity capital market after GEM，The equity trading center serves a large number of small and medium-sized enterprises、capable of growth、valuable enterprise。

Small and medium-sized enterprises with growth potential first use the "New Fourth Board" as a springboard，and then transferred to GEM，Small and medium-sized enterprises will also have a better market foundation。therefore，Handling "New Fourth Board" business is of great significance to small and medium-sized enterprises。

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