什么是挂牌基础层？

中文：

挂牌基础层，通常是指股票市场中一个相对初级的层次，用于为中小企业提供融资渠道，并推动其规范运作和公开透明。在这一层次上，企业可以通过挂牌交易，实现股权的流通和融资，进而扩大品牌影响力，提高市场竞争力。

挂牌基础层与主板市场相比，其上市门槛相对较低，监管要求也相对宽松。这使得更多处于初创期或成长期的中小企业有机会进入市场，获得资金支持。同时，挂牌基础层也为企业提供了一个规范运作的平台，要求其遵循一定的信息披露制度和公司治理结构，有助于企业建立现代企业制度，提升管理水平。

然而，挂牌基础层也存在一定的风险。由于企业规模相对较小，抵御市场风险的能力较弱，因此投资者在选择投资标的时需要谨慎。同时，挂牌基础层的流动性相对主板市场较弱，可能影响投资者的交易体验。

总之，挂牌基础层作为股票市场的重要组成部分，为中小企业提供了宝贵的融资机会和规范化运作的平台。对于投资者而言，需要充分了解市场规则，审慎选择投资标的，以实现风险与收益的平衡。

英文：

The basic listing layer, often referred to as the fundamental tier in the stock market, serves as a relatively initial level to provide financing channels for small and medium-sized enterprises (SMEs) and promote their standardized operations and transparency. At this level, companies can achieve the circulation and financing of equity through listing transactions, thereby expanding brand influence and enhancing market competitiveness.

Compared to the main board market, the listing threshold for the basic listing layer is relatively low, and regulatory requirements are also less stringent. This allows more SMEs in their early or growth stages to have access to the market and obtain financial support. At the same time, the basic listing layer provides a platform for companies to operate in a standardized manner, requiring them to follow certain information disclosure systems and corporate governance structures. This helps enterprises establish modern enterprise systems and improve management levels.

However, there are also certain risks associated with the basic listing layer. Due to the relatively small size of these companies, their ability to withstand market risks is weaker. Therefore, investors need to exercise caution when selecting investment targets. Additionally, the liquidity of the basic listing layer is relatively weaker compared to the main board market, which may affect investors' trading experience.

In conclusion, as an essential component of the stock market, the basic listing layer offers valuable financing opportunities and a platform for standardized operations for SMEs. For investors, it is crucial to fully understand market rules and carefully select investment targets to achieve a balance between risk and reward.