The National Small and Medium Enterprises Stock Transfer System Limited Liability Company (“New Third Board”) released on its official website the decision on the periodic adjustment of market layers in 2021, and Western Heavy Industries (stock code: 870370) was selected from the basic layer and successfully transferred to the innovation layer, effective from June 7, 2021.
This entry into the innovation layer is another milestone achieved by the company since it was officially listed on the “National Stock Transfer System” on January 3, 2017, and successfully landed on the “New Third Board” capital market, which is full recognition of the business scale, profitability, and development prospect of the company. It is a full affirmation of the business scale, profitability, and development prospect of the enterprise, reflecting the good growth and long-term investment value of the enterprise, and laying a solid foundation for the next listing in the selective layer.
It is reported that in recent years, the National Stock Exchange Corporation has systematically optimized and upgraded the stratification system, forming a three-tier market structure of “basic tier – innovation tier – selective tier” and enhancing capital liquidity layer by layer. According to the announcement of the “New Third Board”, the criteria for being selected for the innovation layer this year are mainly based on three dimensions, such as corporate profitability, revenue growth rate, market value, etc. Meanwhile, there are a series of strict requirements for the financing amount and the number of qualified investors. A total of 277 listed companies were transferred to the innovation layer, and these companies will receive more attention from the capital market and get more development opportunities.