Selling shares in success stories
Print Edition
THIS has been a record year in the number of Minhang-based companies going public.
Five companies held initial public offerings this year, exceeding the average one a year in the past. They bring to 23 the number of publicly owned companies in the district.
The companies are Queclink Wireless Solutions, PNC Process System, Zhizheng Gufen, Shanghai Moons Electric Co. and Cambridge Industries Group. One common denominator is that all of them are technology-related.
Shanghai Moons Electric Co owns 90 technology patents. PNC solutions and Zhizheng Gufen are involved in providing facilities for academics and researchers to do innovative work. Cambridge Industries Group manufactures fiber-to-home and other telecommunications equipment with a focus on wireless technology.
Cambridge Industries listed on the Shanghai Stock Exchange raised 368 million yuan (US$55.67 million) in its IPO. The share price has risen to 44.78 yuan since its debut on November 10, compared with an IPO price of 15.05 yuan per share.
Huang Gang, an executive with Cambridge Industries, said the money raised in the public offering allows the company to continue its shift to mass production.
“We began shifting from manual to automated technology in 2015,” he said. “Within three years, we reduced our staff by half while still increasing production.”
To help Minhang companies go public, the district government has established a specialist group to guide enterprises through the IPO process.
The Commission of Economy and Information Technology is responsible for the pre-listing tutoring, policy training and data bank building.
The district has held 20 lectures about the Class A share markets in China, including the current status and regulations of capital requirements for 150 enterprises.
Companies that list on the Shanghai Stock Exchange are eligible for subsidies of up to 3 million yuan from the district government. Companies with stock quoted on the over-the-counter National Equities Exchange and Quotations may receive up to 15 million yuan, while companies listing on overseas markets may receive up to 10 million yuan.
The IPOs come as industrial production in Minhang remains brisk. The district output value totaled 260 billion yuan at the end of the third quarter.
The focus now is squarely on new technologies. Of the 11 demonstration projects earmarked by Shanghai for research and development in artificial intelligence, four are based in Minhang. The district has put artificial intelligence on its policy agenda for development promotion.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
