创业板上市公司规模小,准入门槛低,抵御外部风险的能力较弱,同时,公司的治理基础薄弱,管理粗放,规范运作程度低。针对上述情况,深圳证券交易所发布了《创业板上市公司规范运作指引》(以下简称 GEM companies with small scale, low barriers to entry, the ability to resist external risks is weak, while the company’s governance foundation is weak, extensive management, normative operation is low. In response to the above, the Shenzhen Stock Exchange issued a “GEM Listing Practice Guidelines” (hereinafter referred to as