On June 18th of this year, the Science and Technology Innovation Board (also known as the STAR Market) launched the '1+6' reform, which led to the creation of the Science and Technology Innovation Growth Tier. All 32 listed companies that hadn't yet reached profitability were categorized under this tier. Since their debut on the market, these companies have exhibited a robust drive for innovation, with their combined market value surpassing one trillion yuan. Notably, companies like Hygene Biotech are set to join this tier soon.
Since the STAR Market's inception, it has facilitated the listing of 54 companies that were initially unprofitable. Out of these, 22 have successfully 'shed the U' (a unique marker denoting unprofitable companies), averaging at four companies per year. As the reform progresses, the Science and Technology Innovation Growth Tier is poised to further bolster the growth of technology firms and foster the emergence of new, high-quality productive forces.