Xinjiang Identifies 13 Firms for Core-Level Development Program

On July 31, the Xinjiang Regional Financial Administration Bureau, in collaboration with the Xinjiang Securities Regulatory Bureau, the Regional Department of Industry and Information Technology, the Regional Department of Finance, and the Xinjiang Equity Exchange, jointly updated the regional multi-tiered capital market key enterprise cultivation resource pool (formerly the regional enterprise listing reserve resource pool).

A total of 33 new enterprises were added to the pool, while 63 were removed, bringing the total number of enterprises from 198 to 168. This marks the first adjustment to the listing reserve resource pool since the Regional Financial Administration Bureau issued the Xinjiang Uygur Autonomous Region Multi-Tiered Capital Market Key Enterprise Cultivation Resource Pool Management Measures (hereinafter referred to as the Measures) in April of this year.

According to the Measures, enterprises in the pool will now be cultivated in two tiers: the growth tier and the core tier. Core-tier enterprises are defined as high-quality firms with "clear listing plans within the next three years." Thirteen enterprises have been selected for core-tier cultivation in this adjustment.

The adjustment process involved multiple rounds of review, including preliminary screening, material verification, and pre-review discussions. It fully considered factors such as the enterprise's industry, operating conditions, Xinjiang's "five major strategic positioning," regional balance, and specialization in niche markets. Financial indicators were primarily referenced against the National Equities Exchange and Quotations (NEEQ) listing criteria.

With this adjustment, the cultivation of listing reserve enterprises is expected to become more targeted and effective. During the selection process for the resource pool, the Xinjiang Equity Exchange focused on the positioning of the Beijing Stock Exchange (BSE) in serving specialized and innovative small and medium-sized enterprises (SMEs). The exchange targeted operations precisely, concentrating efforts on enterprises within the specialized and innovative SMEs list, and continuously deepened policy promotion and supporting cultivation services. A total of 16 specialized and innovative SMEs were recommended for inclusion in the newly added pool.

In terms of industry distribution, the technological content of the enterprises in the pool has significantly increased compared to previous years. The pool now includes 20 national-level "little giant" enterprises, 88 specialized and innovative SMEs, and 24 leading agricultural industrialization enterprises. The proportion of specialized and innovative SMEs has reached 52.38%, highlighting the clustering effect of high-quality innovative enterprises in the resource pool and laying a solid foundation for the development of the capital market.

From a regional perspective, among the 33 newly added enterprises, 20 are located in the Yili Kazakh Autonomous Prefecture, Changji Hui Autonomous Prefecture, Bayingolin Mongol Autonomous Prefecture, and Urumqi, accounting for 60.61% of the total. Currently, Xinjiang has 62 listed companies, one enterprise under review by the BSE, nine enterprises under coaching and filing for listing on the Shanghai, Shenzhen, and Beijing stock exchanges, and 43 enterprises listed on the NEEQ.