Golden Ten Data reported on July 7 that in January this year, the GEM listing reform of the Hong Kong Stock Exchange officially came into effect, aiming to optimize the listing attractiveness of small and medium-sized enterprises. Youbo Holdings and Yuanxu Technology were listed on June 3 and July 2 respectively. Prior to this, the Hong Kong GEM market had not been "opened" for three and a half years, and 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 do not meet the threshold of the main board but need capital turnover. The GEM reform may attract more innovative SMEs to go public, improve market liquidity, and provide investors with more choices, but the specific effect of the reform remains to be seen.