毕马威（KPMG）：2022年10月香港资本市场更新报告（第二期）（英文版）（6页）.pdf

1、 2022 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).HKEXs consultation on listing of Specialist Tec

2、hnology Companies“Specialist Technology”Broad definition including the following industries:(a)Next-generation information technology(b)Advanced hardware(c)Advanced materials(d)New energy and environmental protection(e)New food and agriculture technologyKey listing requirements for Commercial and Pr

3、e-Commercial Companies Commercial Companies Pre-Commercial Companies Expected Market Capitalisation At least HK$8 billion at the time of listing At least HK$15 billion at the time of listing Revenue At least HK$250 million1 for the most recent audited financial year No requirement Research and Devel

4、opment(“R&D”)Engaged in R&D for at least three financial years For EACH of last three financial years:R&D investment 15%Operating expenditure For EACH of last three financial years:R&D investment 50%Operating expenditure Operational Track Record At least three financial years of operation under subs

5、tantially the same management prior to listing Ownership Continuity At least 12 months prior to the date of the listing application Working Capital Requirement At least 100%of groups requirement for next 12 months At least 125%of groups costs for next 12 months Meaningful investment from Sophisticat

6、ed Independent Investors Indicative benchmark of meaningful investment from sophisticated independent investors(“SIIs”):(a)at least two“Pathfinder”SIIs at least 12 months before the listing application date,each holdingshares or securities convertible into shares equivalent to at least 5%of issued s