The Beijing Stock Exchange (BSE) has reached a significant milestone with 300 listed companies as of March 20, 2026, including 13 new listings in 2026. The exchange has steadily accelerated its expansion since its inception, with a marked increase in the technological specialization, expertise, and supply chain integration of its listed entities.
Compared to the 100 and 200-company milestones, the proportion of National-Level Specialized, Refined, Distinctive, and Innovative "Little Giant" enterprises has seen a significant rise. The number of these "Little Giants" grew from 44 at the 100-company point to 99 at 200 companies, and further to 166 at the 300-company mark, increasing their share from 44.00% to 49.50%, and then to 55.33%. Similarly, the number of National Manufacturing Single Champion companies increased from 22 to 41, and then to 65.
The 300 companies have formed industrial clusters centered on advanced manufacturing and strategic emerging industries, positioning the BSE as a core platform for capital markets to empower new quality productive forces and strengthen supply chain capabilities. The listings are increasingly concentrated in hard-tech sectors such as high-end equipment, new materials, semiconductor equipment and components, biopharmaceuticals, key new energy components, and information technology, aligning closely with national priorities for developing new productive forces and reinforcing supply chains. The high-end equipment, information technology, new chemical materials, consumer services, and biopharmaceuticals sectors account for 41.67%, 17.33%, 16.00%, 17.00%, and 8.00% of the listed companies, respectively.
Pipeline companies demonstrate high quality, with average and median revenues for 2024 of 791 million yuan and 588 million yuan, respectively. Their average and median net profits attributable to shareholders were 95.4546 million yuan and 73.5289 million yuan, respectively. Moving forward, the BSE is expected to use industrial chain mapping to precisely identify weak links, cultivate and list high-quality specialized SMEs to improve coverage, accelerate import substitution processes, and enhance overall supply chain autonomy.
Market indices experienced volatility, with the BSE 50 and BSE Specialized SMEs indices closing at 1,316.14 and 2,158.89 points, respectively, declining 5.76% and 7.57% for the week. Based on an industry classification, the trailing price-to-earnings ratios for high-end equipment, information technology, new chemical materials, consumer services, and biopharmaceuticals sectors are 39.42x, 97.07x, 46.79x, 46.48x, and 35.15x, respectively.
Recent market declines, partly influenced by heightened risk premiums due to ongoing US-Iran tensions, were more pronounced on the BSE compared to other boards. From a valuation perspective, certain companies now appear attractive. A dual strategy is recommended: focus on sectors that may benefit from the US-Iran situation, and also target leading specialized "Little Giant" enterprises, companies involved in critical supply chain segments, high R&D firms associated with new quality productive forces, and high-quality recently listed companies with unique market positions.
Companies highlighted for attention include: Information Technology Chain (Wanyuantong, Hengdongguang, Audiwei, Bingxing Keji, Yabaoxuan); New Chemical Materials Chain (Beterui, Anda Keji, Jiaxian Gufen, Wuxi Jinghai, Zhongyu Keji, Guangxin Keji, Jinhua Xincai, Ruihua Jishu); High-End Equipment Chain (Tongli Gufen, Kaite Gufen, Changhong Nengyuan, Wuxin Zhuangzhuang, Lintai Xincai, Jiezhong Keji, Shichang Gufen, Haixi Tongxun, Jianbang Keji, Hongyuan Gufen, Sanxie Dianji); Biopharmaceuticals Chain (Jinbo Shengwu, Nuosilande, Haisheng Yaoye, Zitonggong).
Regarding approvals and supervision, three companies are awaiting listing review meetings, while four companies have passed their reviews. Longxin Zhineng and Qilong Haiyang have updated their status to 'Registered'. Jieli Keji, Anda Gufen, Nanfang Ruye, and Olun Dianqi have updated their status to 'Approved'. Companies scheduled for review meetings on March 26-27, 2026, are Guangtai Zhenkong, Jinge Xincai, and Qian'an Keji.
Potential risks include policy implementation falling short of expectations, statistical inaccuracies in data, and broader macroeconomic uncertainties.