Shenzhen ChiNext IPO Listing Requirements & Cost

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CN · APAC · ChiNext (Growth)

Shenzhen ChiNext

SZSE · Shenzhen · CNY

Shenzhen's growth board — registration-based, retail-heavy, home of China's battery and hardware champions.

Eligibility · Meridian Renewables (example)

Conditional

1 requirement(s) not yet met — see eligibility below.

Min market cap

$140M

admission floor

Min free float

25%

public hands

Est. all-in

6.7%

on $700M

Time to list

26–30w

from kickoff

Regulator

CSRC / SZSE

oversight

Eligibility check

✓

Market capitalisation

Requirement: ≥ $140M

$4.8B

Free float

Requirement: ≥ 25%

~15%

✓

Operating history

Requirement: ≥ 3 yrs

11 yrs

✓

Profit / revenue test

Requirement: Tiered profit / cap standards

Profitable

Governance standard

Requirement: CSRC Governance

Gaps

✓

Accounting

Requirement: CAS

IFRS

Rules as of 2026-Q2 · source: SZSE ChiNext Listing Rules (CSRC, CN). Compiled summary — validate against the primary source before filing.

Fees & cost

Est. all-in · $700M raise$47M 6.7%

Underwriting spread5.5% · $39M

Initial listing fee¥2M

Annual fee¥0.8M

Legal · audit · IR · other$8.2M

Total all-in$47M (6.7%)

Market quality & investors

Liquidity★★★★★

Analyst coverage★★★★☆

Retail participation★★★★★

Institutional depth★★★☆☆

Index inclusion

ChiNext Index

Aftermarket: +35% avg first-day

Process & sectors

Typical time-to-list26–30w

RegulatorCSRC / SZSE

Dual / secondary listingNot standard

Min public shareholders—

Sector strength

TechBatteryHealthcareIndustrials

Notable listings: CATL, East Money

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