An Empirical Study on the High-Quality Development of “Specified, Refined, Characterized, and Innovative” Small- and Medium-Sized Enterprises under the Background of “Dual Circulation”: A Case Study of Wuxi City, Jiangsu Province

Table 4

Three standards for stock listing on the Beijing Stock Exchange.

Standard position	Financial indicators (meet one of them)
Net profit	1. Net profit in the last two years ≥15 million yuan; 2. net profit in the most recent year ≥25 million yuan
Income	1. The average operating income in the last two years is ≥100 million; 2. the revenue growth rate in the last year is ≥30%
Revenue and R&D investment	1. The average operating income in the past two years is ≥100 million; 2. the total R&D investment in the past two years accounts for ≥8% of the total operating income in the past two years