On April 8th, at the 2023 China Small and Medium sized Enterprise Development Conference and the 16th China Small and Medium sized Enterprise Festival, Li Yongchun, Deputy General Manager of the Beijing Stock Exchange, stated that since its opening more than a year ago, the Beijing Stock Exchange has focused on the industrial chain, innovation chain, and cultivation chain, and has initially formed a market system of full chain service, specialized, and innovative enterprises. At present, there are 186 listed companies on the Beijing Stock Exchange, with over 40% of them being specialized, refined, and new "little giants", and over 90% being high-tech enterprises. Some companies continue to make efforts in supplementing, extending, and strengthening the chain, breaking through the "bottleneck" technology, achieving import substitution, or possessing internationally leading technology patents. Zhou Yunnan, founder of Beijing Nanshan Investment, told Securities Daily that the Beijing Stock Exchange is the main battlefield for serving innovative small and medium-sized enterprises. The specialized, refined, and innovative attributes of enterprises are an added bonus to the listing application and valuation of the primary and secondary markets on the Beijing Stock Exchange. It is attracting more and more specialized, refined, and innovative enterprises to list on the Beijing Stock Exchange, and continuously improving the overall quality of listed companies on the Beijing Stock Exchange. The Beijing Stock Exchange has established a direct review mechanism to connect the entire chain of market cultivation, listing review, company supervision, and listing review, implementing centralized management for high-quality companies with intentions, and achieving better listing efficiency. "Li Yongchun stated that currently, enterprises take an average of 133 days from acceptance to approval, with the shortest time being 37 days. The Beijing Stock Exchange has raised a total of 37.9 billion yuan, with an average of 200 million yuan per company. With the financing amount of one or two large and medium-sized enterprises on the main board, it has supported nearly 200 innovative small and medium-sized enterprises, providing a source of fresh water for their sustainable innovation and development. Zhu Haibin, General Manager of the Research Center of the Beijing Stock Exchange of Kaiyuan Securities, told reporters that the review of the primary market of the Beijing Stock Exchange is fast and efficient, and has achieved certain results in serving specialized and innovative enterprises, with a wide coverage. Some companies have developed into invisible champions in industry segmentation fields, playing an important role in promoting industrial structure transformation and upgrading, enhancing economic vitality and resilience. From the disclosed 2022 annual report data, it can be seen that the Beijing Stock Exchange has gathered specialized, refined, and innovative enterprises, driving performance improvement. For example, Fujida, a supplier of RF coaxial cable components, has led the development of IEC international standards and maintained a leading position in international technology in the field of RF coaxial cable components. In 2022, its operating revenue increased by 34.02% year-on-year and its net profit increased by 40.10% year-on-year. In order to further promote the listing of specialized, refined, and new enterprises on the Beijing Stock Exchange, Chang Chunlin, founder and partner of Beijing Liwu Investment Management Co., Ltd., told Securities Daily that strengthening the linkage between the exchange, local governments, and specialized, refined, and new enterprises, building service bases, increasing training efforts, and strengthening the cultivation of innovative small and medium-sized enterprises. Continuously improve the ecological service circle for the listing of specialized, refined, and new enterprises on the Beijing Stock Exchange, cultivate and introduce a group of third-party service institutions with strong professional capabilities and excellent service quality. To enhance the liquidity market capacity of the Beijing Stock Exchange, attention should be paid to the issue of "liquidity level is the soul of the capital market. More specialized, specialized, and new enterprises going public will improve liquidity levels. With an increase in liquidity level, the valuation of enterprises will increase, and their financing ability will be further enhanced." Li Yongchun said. High quality expansion has a dynamic balance between investment and financing