Friends who know about the securities market must have heard of the concept of "old board". So, what on earth is the old board?Cookingmamacrypto? What are the characteristics of its market? Today, let's take a closer look at it.
The definition of the old board
The old third board, whose full name is "National share transfer system for small and medium-sized Enterprises", is an equity trading platform for unlisted public companies in China's securities market. The old third board was established in 2006, mainly serving small and medium-sized unlisted enterprises, providing enterprises with equity financing, equity registration, share trading and other services. The old third board market is relatively independent from the main board, gem, new third board and other markets, and has its own operating mechanism and characteristics.
The characteristics of the old third board market
oneCookingmamacrypto. The market access threshold is relatively low: compared with the main board and gem, the market access threshold of the old third board is relatively low. The requirements of listing conditions and financial indicators are relatively loose, which is beneficial for more small and medium-sized enterprises to enter the capital market and obtain financing support.
two。 The information disclosure requirements are relatively low: the information disclosure requirements of the old third board enterprises are lower than those of the main board and gem, but they still need to abide by certain information disclosure rules. This will help to reduce the burden of information disclosure of enterprises and improve market efficiency.
3. The trading scale is small and the liquidity is poor: due to the relatively small number of participants in the old third board market, the trading scale is small, and the liquidity is relatively poor. When investors choose to invest in the old third board stocks, they need to fully consider the factors of market liquidity and reasonably evaluate the investment risk.
4. Regulation is relatively loose: compared with the main board, gem and other markets, the supervision of the old third board market is relatively loose, and the market supervision is relatively small. This helps to stimulate the vitality of the market, but there are also some regulatory risks.
The investment risk of the old third board market
1. The quality of enterprises is uneven: because the entry threshold of the old third board market is relatively low, the quality of enterprises is uneven, some enterprises may have operational problems, financial problems and other risks. When investors choose to invest in the old third board stocks, they need to fully understand the situation of the enterprise and carefully assess the investment risk.
two。 Market liquidity risk: due to the small trading scale and poor liquidity in the old third board market, investors may face greater liquidity risk in the trading process. In the process of investment, it is necessary to fully consider the factors of market liquidity and arrange the investment strategy reasonably.
3. Regulatory risk: although the regulation of the old third board market is relatively loose, but the regulatory risk still exists. Investors need to pay attention to the changes of market regulatory policies, keep abreast of market trends and guard against regulatory risks.
Through the above analysis, we can understand the basic situation and main characteristics of the old third board market. As an investor, when investing in the old third board stock, we need to fully understand the characteristics of the market, reasonably evaluate the investment risk and make a good investment plan.
In addition, in order to facilitate you to understand the main data of the old third board market, we have compiled a table for reference:
The index name defines the market size refers to the total market value of the old third board market, reflecting the overall size of the market. Trading volume refers to the average daily trading volume of the old third board market, reflecting the activity of the market. Price-to-earnings ratio refers to the average price-to-earnings ratio of the old third board market, reflecting the level of market valuation. Market supervision refers to the supervision policy and intensity of the old third board market. I hope the above content will be helpful to all of you. I wish you all a smooth investment! (: congratulations