This photo shows a STAR Market poster at a securities brokerage in Nanjing, Jiangsu province. SU YANG China's push for innovation and upgrading in strategic emerging sectors will lead more state-owned enterprises to be listed on its Science and Technology Innovation Board - or the STAR Market - this year, analysts and business leaders said.
He made comments after the SOEs, including Beijing Shenzhou Aerospace Software Technology Co Ltd and Hubei province-based Aerospace Nanhu Electronic Information Technology Co Ltd, were listed on the technology-heavy STAR Market earlier this month.
According to statistics from Beijing Zhiben Venture Management Consulting Co Ltd, a total of six SOEs, including Anhui province-based Hefei Chipmore Technology Co Ltd and Nexchip Semiconductor Corp, along with Hebei province-based Peric Special Gases Co Ltd, have listed on the board so far this year.
Amidst the new round of SOE reforms, high-tech SOEs will endeavour to lead the growth of advanced industries and their advantages in strategic emerging industries - including new-generation information technology, artificial intelligence and integrated circuits - will be enhanced, said Fang Yi, chief strategy analyst of Shanghai Guotai Junan Securities Asset Management Co Ltd.
In the future, Fang predicted that the dominant advantages of SOEs in strategic emerging industries will become more evident. As a result, they are expected to benefit even more from their listed companies and related businesses in various industrial chains.
Eager to turn those prospects into reality, Eager to turn those prospects into reality, Ye Yuanwei, Party secretary of Shanghai Nuclear Engineering Research and Design Institute Co Ltd, said that the company aims to be listed on the STAR Market this year, with a fundraising target of 1.1 billion yuan $155 million.
After completing a series A financing of almost 6 billion yuan, Mr. Zhang Qiang, president of Tianjin Lishen Battery Joint-Stock Co Ltd, said his company is currently undergoing series B financing and plans to be listed on the STAR market in 2025.
The United Network Communications Group Co Ltd has also been heading in that direction. China Unicom SMART Connection Technology Ltd., a Beijing-based company, has also announced its STAR Market debut on the Hong Kong Stock Exchange earlier this month.
The STAR Market has been instrumental in the listing and financing of 47 SOEs since its creation, with a total initial funding of 116.5 billion yuan, according to data from the Shanghai Stock Exchange.
Experts said that with strong policy support a group of high-tech SOEs is expected to exercise their efforts in value creation, thereby facilitating the reshaping of their valuations in the stock markets.
Support for policy expansion will help SAEs grow in strategic emerging industries and list on the STAR Market. This will speed up their market-oriented operations and strengthen their core competitiveness, said Hu Chi, a researcher at the state-owned assets supervisory and administration commission of the state council.
At a recent meeting in Beijing, Zhang Yuzhuo, chairman of SASAC, urged centrally administered SOEs to intensify their efforts in developing strategic emerging industries. By enhancing Core competitiveness and actively serving significant national strategies, he emphasised the importance of enhancing core competitiveness.