Growth Enterprise Market
board of the Hong Kong Stock Exchange
Growth Enterprise Market (GEM; Chinese: 創業板) is a board of the Stock Exchange of Hong Kong for growth companies that do not fulfill the requirements of profitability or track record for the main board of the exchange. Opened 1999.
GEM operates on the philosophy of "buyers beware" and "let the market decide" based on a strong disclosure regime. Its rules and requirements are designed to foster a culture of self compliance by listed issuers and sponsors in the discharge of their respective responsibilities. The following major features are to support this philosophy:
Greater, More Frequent and Timely Disclosure
GEM requires a listing applicant to disclose in detail its past business history and its future business plans which are key components of the listing documents. After listing, a GEM issuer is required to make half yearly comparison of its business progress with the business plan for the first 2 financial years, publish quarterly accounts in addition to half yearly and annual accounts and a shorter period is allowed to make available these information to the public. To allow market participants easy access to information, GEM has a separate website which provides comprehensive information covering all aspects of the market including company announcements and other information of listed issuers, trade prices and market statistics. Since 1999, more than 267 companies have raised more than HKD 40 Billion in this market.
GEM Sponsor Scheme
In recognition of the pivotal role that a GEM sponsor plays in the listing process, a GEM sponsor is required to satisfy a set of detailed eligibility criteria and assume clear responsibilities in the discharge of its duties. Amongst its duties, a GEM sponsor is required to conduct due diligence and to satisfy itself, to the best of its knowledge and belief and having made due and careful enquiries, that proper disclosures have been made.
“Growth Enterprise Market” enters the record as board of the Hong Kong Stock Exchange. Crown Archives preserves that source wording while asking what Growth, Enterprise and Market can confirm, complicate or overturn.
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Named sources, stable identifiers and responsible institutions provide the strongest route from overview to verifiable evidence. The source revision retrieved here is dated Jul 21, 2026. The linked authority identifier is Q5611733. 1 of 1 selected statements include explicit references; 1 carry qualifiers and 0 use preferred rank. The first chronological checks are 1999.
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This entry incorporates text from “Growth Enterprise Market” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.