Hangzhou updates list for companies planning IPOs
2019-12-04 Source:Hangzhou China

The city has updated the list of companies planning IPOs for the fourth time lately, according to Hangzhou Financial Work Office’s site. Compared to its third edition in May, 20 companies were newly added this time and 18 exited, increasing the number of companies on the list to 116.

The companies added include well-established enterprises like Zhang Xiaoquan and Zuming Bean Products as well as star companies such as Global Scanner, 2Dfire, and Li-On Microelectronics in the new economy sector. 

In particular, Hangzhou Raycloud Technology has filed for an IPO on China’s tech board; Allied Machinery, Hangzhou Seck Intelligent Technology, Zuming, Li-On, Servyou Group,  and Hangzhou Kangji Medical Instrument have applied for IPOs in China’s A-shares market. The market cap of each of the above-mentioned companies exceeds CNY 600 million. 

In addition, five of the newly added companies are in the medicine, biotechnology and medical equipment sectors, accounting for the biggest proportion.

Among the 18 companies that have exited, 11 have already been listed in equity markets. In particular, Xinhua Chemical, Dashengda Packing, Meorient, Onechance Tech, Nanhua Futures, and Zheshang Bank are now listed the A-shares market; HangKe Technology, ArcSoft, DBAPPSecurity, and Hangzhou Hopechart IoT Technology listed in China’s tech board; the IPO applications of Arcvideo Tech, Aupu, and Jianye Chemical Industry have been approved. 

The number of listed companies in Hangzhou has increased by 22 year-to-date, surpassing the annual target of 15. The city now has 191 listed companies, ranking the fourth among all Chinese cities. There are also a few companies that have been approved by regulators for IPOs. 

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