SSE to approve 3 more companies to list in upcoming science tech board
Jun 05, 2019 (China Knowledge) - On 3rd Jun 2019, Shanghai Stock Exchange announced the IPO filing of three tech companies- Zhejiang Hangke Technology, Beijing Tianyishangjia New Material, and Montage Technology.
The three companies will soon receive approval to file IPO applications after they pass their third and last stage of information disclosure. All three companies are looking at listing in the new science and technology innovation board.
The Sci-Tech Innovation Board which was commission by President Xi last year to support domestic technology companies will allow unprofitable and foreign-funded companies to list in Mainland China for the first time.
The board also features a registration-based listing mechanism which requires applicants to fully disclose information regarding their earnings and operations, with approvals granted once regulators can verify the authenticity of the submitted documents.
Zhejiang Hangke Technology is in the batteries industry and has become a world-class lithium processing system integrator. Its annual revenue from 2016-2018 was RMB 410 mln, RMB 771 mln and RMB 1.109 bln, while net margin was RMB 91.92mln, RMB 181 mln, and RMB 286 mln.
Beijing Tianyishangjia New Material is a high-tech enterprise specializing in the R&D, production and marketing of brake pads and brake block series products for high-speed train, EMU, and urban rail transit vehicle. Annual revenue of the company in the past 3 years was RMB 468 mln, RMB 507 mln and RMB 558 mln respectively, and net margin was RMB 195 mln, RMB 222 mln and RMB 263 mln respectively.
Montage Technology, a fabless semiconductor company, is one of the three manufacturers of memory interface in the world. Its annual revenue of RMB 845 mln, RMB 1.228 bln and RMB 1.758 respectively, and net profit margin of RMB 93 mln, RMB 347 mln and RMB 737mln respectively.
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