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: AI Chipmaker Sunrise Doubles Valuation After Raising 2 Billion Yuan; Tencent Unveils Larger AI Model in Bid to Close Gap With Rivals; Baidu Shifts AI Agent Dumate Toward Industry-Specific Workflows

LATEST: Tencent Unveils Larger AI Model in Bid to Close Gap With Rivals; AI Chipmaker Sunrise Doubles Valuation After Raising 2 Billion Yuan; Analysis: Unitree Shares Slide as Investors Reassess Humanoid Robot Valuations; Baidu Shifts AI Agent Dumate Toward Industry-Specific Workflows; Z.AI Unveils Cheaper Model Running Entirely on Homegrown Chips; EHang Scraps Revenue Target in Wake of Fatal Aircraft Crash; XPeng to Raise $900 Million for Robotics Unit; China’s Advanced Chip Supply to Surge 46% Annually Through 2035, Goldman Says; Xiaomi Steps Up Chip Push With New Smartphone, AI and Self-Driving Processors; Alibaba’s $12 Billion Share Sale to Fund AI Push Sends Stock Lower; TikTok to Pay $400 Million to Settle U.S. Child Privacy Lawsuit; DeepSeek Enters the Multimodal AI Race with Experimental Vision Model; Alibaba’s Profit Plunges as E-Commerce Business Falters, AI Investment Jumps; YMTC Moves Closer to Shanghai IPO; Unitree Shares Decline as Founder Flags Limits of Humanoid Robots; AI Companies’ Success Lies in the Apps, Bain’s China Chairman Says; China’s LandSpace Recovers Booster in Reusable Rocket Breakthrough; Spacecom Raises $1.94 billion in Bet on China’s Starlink Rival; U.S. Appeals Court Orders Review of Pentagon’s DJI Designation; Unitree to Debut at 61 Billion Yuan Valuation in Closely Watched Shanghai IPO

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