First Companies to Debut on New High-Tech Board July 22

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING: Chinese Robot Startup Unitree Gears Up for Market Debut

LATEST: Chinese Robot Startup Unitree Gears Up for Market Debut; China Enforces AI Content Labeling Rules to Curb Misuse; Tech Brief (Sept. 2): China Rolls Out Mandatory AI Labeling; Meituan Enters Open-Source AI Race With LongCat Model; Tech Brief (Aug. 29): SenseTime Reports Strong AI Growth; All Hail the Driverless Taxis as China Eyes a $183 Billion Market; Tech Brief (Aug. 27): Cambricon Reports $128 Million Profit, Stock More Than Doubles Since July; Tech Brief (Aug. 26): Musk’s xAI Sues Apple and OpenAI Over Alleged AI Market Monopoly; Exclusive: NetEase’s Youdao CEO Explains How AI Agents Could Build a Future of Virtual Teachers; Ant Group Teams up With Top Beijing Hospital to Launch AI Healthcare Lab; Didi and Meituan Clash in Brazil as Food Delivery Battle Goes to Court; Google Denies Rumors It Is Resuming Full Services on Chinese Mainland; China Proves a Winner in the Gaming Market as Growth Hits a Five-Year High; China’s Booster Robotics Lands New Funding as it Hits a Winning Streak; Amazon to Shut Down Shanghai AI Lab Amid Strategic Shift; Cover Story: A New Gold Rush Begins in China’s Hard Tech Sector; Humanoid Robotics Startup Robot Era Secures $69 Million Series A Funding; China’s Zhipu AI Secures $140 Million Investment From Shanghai State Funds Amid IPO Push; In Depth: AI Agents Trigger the Next Tech Battlefield in China; Cover Story: Alibaba Fights Tencent for Dominance Over AI in China

By Zhang Yu and Han Wei / Jul 06, 2019 03:24 AM / Finance

Photo: VCG

China’s new Nasdaq-style high-tech board will host the first batch of listings on July 22, the Shanghai Stock Exchange said Friday.

At least 25 companies will be the first to debut on the SSE STAR Market, a new trading venue hosted by the Shanghai bourse targeting companies in high-tech and innovative sectors. The new board is also a testing ground for several securities market reforms including a registration-based initial public offering mechanism.

As of July 4, the Shanghai Stock Exchange received 141 applications for listing on the new board. The bourse has flashed a green light to 31 applicants, 25 of which have successfully registered with the securities regulator.

The first movers will include display and touch-testing equipment maker Suzhou HYC Technology Co. Ltd., sensors developer Yantai Raytron Technology Co., Ltd. and precision instrument maker Suzhou TZTEK Technology Co. Ltd.

The Shanghai bourse said Friday that the new board will conduct system tests as final preparation for the debut.

Investors have shown great enthusiasm for the new listings. Many candidates have expanded their fundraising size as high demand bolstered their valuations.

Share this article

Open WeChat and scan the QR code