BEIJING, May 6 (Xinhua) -- Companies listed on China's "new third board," a financing platform for small and medium-sized enterprises (SMEs), reported stable performance last year.
Nearly 70 percent of those companies were profitable, and 346 of them logged a net profit of more than 50 million yuan.
The number of "little giant" firms on the board had increased to 689 by April 28, up by 358 from a year ago and with over 80 percent of them engaging in advanced manufacturing or modern services. The "little giant" firms represent the novel elites of SMEs that specialize in niche markets, boast cutting-edge technologies, and show great potential.
Launched in 2013, the board offers SMEs a new financing channel with low costs and simple listing procedures. In 2022, companies on the board raised 23.2 billion yuan, up 12.62 percent year on year.