In January of this year, the GEM listing reform of the Hong Kong Stock Exchange officially took effect, with the aim of optimizing the attraction of small and medium-sized enterprises to list. Ubo Technology Holdings and Yuanxu Technology were listed on June 3 and July 2 respectively. Prior to this, the GEM market in Hong Kong had not been opened for three and a half years. The last new stock before the GEM listing reform was Yucheng Logistics, which was listed on January 13, 2021. Industry insiders believe that the GEM market provides a financing platform for small and medium-sized enterprises that have not reached the main board threshold but need capital turnover. GEM reform may attract more innovative small and medium-sized enterprises to go public, improve market liquidity, and provide more choices for investors. However, the specific effect of the reform still needs to be observed. (Shanghai Securities News)