Research On The Effect Of Science And Technology Innovation Board Listing Financing ——A Case Study Of Micro-tech Co.,ltd.

With the formal establishment of the science and innovation board in 2018 and the pilot registration system for the first time,it has provided a wider financing channel for a large number of small and medium-sized science and technology enterprises.Taking the small and medium-sized technology enterprise Nanwei medicine as a research case,this paper analyzes the listing process and motivation of Nanwei medicine,compares the financing effect of Nanwei medicine on the science and innovation board through vertical and horizontal comprehensive analysis,and tries to explore the financing effect of small and medium-sized enterprises on the science and Innovation Board,hoping to provide reference for other enterprises.On the basis of combing relevant literature,taking Nanwei medical company as the research object,using literature research method,event research method and other research methods,it is found that the main motivation of Nanwei medical’s listing on the science and innovation board is still based on the needs of enterprises to expand production capacity,technological innovation,balance financial leverage,reduce risk and follow-up project investment.With the support of the national new third board transfer policy and the science and Innovation Board listing policy,It provides a good opportunity for enterprises to be listed on the science and innovation board.Through the analysis of the financing scale and structure of Nanwei medical after its listing on the science and innovation board,it is found that Nanwei medical has obtained a large amount of financing through its listing on the science and innovation board,with the highest proportion of equity financing,while the proportion of longterm and short-term loans in the financing structure has decreased,which shows that Nanwei medical has further optimized the financing structure by reducing debt financing;Through the analysis of the financing cost,it is found that the equity financing cost of Nanwei medical through listing is significantly lower than that of bank loans,and the equity financing method is more suitable for enterprise financing;Through the analysis of profitability and growth,it is found that Nanwei medicine has obtained better profit space after listing,and a large amount of financing funds can help Nanwei medicine expand its business scale and scientific research investment,and promote the steady development of the enterprise.Through the case study,we can draw the Enlightenment: the science and innovation board can help small and medium-sized enterprises expand financing channels,promote the further optimization of domestic financing environment,and effectively improve market stability.Finally,countermeasures and suggestions are put forward from different levels: the enterprise level should do a good job in the overall use of listed funds,the policy level should strengthen the supervision of the capital market,and the market level should encourage the exploration of new financing modes.