Wind data shows that among the Shanghai Stock Exchange Main Board, Shenzhen Stock Exchange Main Board, Science and Technology Innovation Board , ChiNext , and Beijing Stock Exchange, as of September 21, the Science and Technology Innovation Board ranked first in the initial financing amount with 193.779 billion yuan this year, accounting for about 42.06% of the total IPO fundraising amount of 460.708 billion yuan this year, an increase of 68.05% year-on-year. The second is the ChiNext, with the total initial financing amounting to 139.25 billion yuan, a year-on-year increase of 60%.
The Science and Technology Innovation Board has always adhered to the positioning of the "hard technology" sector and has become the first choice for my country's "hard technology" companies to go public. The GEM is based on serving growth-oriented innovative and entrepreneurial enterprises, and presents the distinctive characteristics of "excellent innovation and high growth". Industry insiders said that the ChiNext, Science and Technology Innovation Board, and , Beijing Stock Exchange have developed in a dislocation, and promote the formation of a moderate competitive pattern with each focus and complement each other.
The first three quarters of the Science and Technology Innovation Board's initial public offering financing exceeded 193.7 billion yuan
Wind data shows that as of September 21, there have been more than 280 first public offering companies in the A-share market this year, with the amount of funds raised by 460.708 billion yuan.
According to the report recently released by Deloitte China, based on the financing amount as of September 30, 2022, the A-share market is expected to be successfully issued in the first three quarters, with a total financing of 464.1 billion yuan. Compared with the 372 new stocks at the end of the third quarter of 2021 and a total financing of 369.8 billion yuan, the number of IPOs in the first three quarters of this year decreased by 23% year-on-year, but the financing amount increased by 26%. Judging from the listing sectors of
points, the Science and Technology Innovation Board ranks first in the initial financing amount with 193.779 billion yuan, followed by the ChiNext, with the total initial financing amount of 139.25 billion yuan. The total initial financing amounts of the Shanghai Stock Exchange Main Board, Shenzhen Stock Exchange Main Board and Beijing Stock Exchange were 99.972 billion yuan, 22.169 billion yuan and 5.537 billion yuan respectively.
Data source: Wind
Hong Kong Securities Vice President and Director of the Research Institute Sun Jinju said that the sector positioning of the GEM, Science and Technology Innovation Board and the Beijing Stock Exchange are clearly distinguished, and there are differentiated arrangements in basic systems such as issuance, listing, information disclosure, trading and delisting. The ChiNext, Science and Technology Innovation Board, and the Beijing Stock Exchange will develop in a staggered manner, and promote the formation of a moderate competitive pattern with each focus and complement each other.
"It has now entered September. We expect that the number of companies that can achieve IPOs in the A-share market this year is expected to reach or exceed the number last year." Sun Lijun, co-director of the Global Investment Banking Department of UBS Securities, said at a media sharing meeting held recently that various financing products in the A-share market, including IPOs, refinancing, bond issuance, etc., still maintain a relatively stable pace.
The amount of initial public offering raised by the three major industries in the third quarter exceeded 20 billion
Specifically, as of September 21, 32 companies were listed in September, raising 38.876 billion yuan in initial offerings. According to statistics on the listing date, the total amount of initial fundraising of four companies has exceeded 2 billion yuan since September. Among them, Huabao New Energy ranked first in the total amount of initial fundraising with 5.829 billion yuan.
htmlOn September 19, Huabao New Energy was listed on the ChiNext, with an issue price of 237.5 yuan per share, and the issuance price-to-earnings ratio was 84.6 times. The company is a portable energy storage brand enterprise, committed to the research, development, production and sales of lithium battery energy storage products and their supporting products. The prospectus shows that the funds raised for this listing will be used for portable energy storage product expansion projects, R&D center construction projects, brand data center construction projects, and supplementary working capital, respectively, and are expected to invest 198 million yuan, 99.3105 million yuan, 252 million yuan and 127 million yuan of the raised funds.In addition, the total amount of initial fundraising of BGI Intelligent Manufacturing reached 3.602 billion yuan, ranking second. On September 9, BGI Intelligent Manufacturing was listed on the Science and Technology Innovation Board. The previously disclosed prospectus shows that BGI focuses on the research and development, production and sales of instruments, equipment, reagents and consumables and other related products as its main business, and is known as the "first stock in life science tools" in the industry. The net amount of funds raised after deducting the issuance expenses will be used for projects related to the company's business and supplementary working capital. Among them, the BGI Intelligent Manufacturing Intelligent Manufacturing and R&D Base project plans to invest the most, with an estimated investment of 1.264 billion yuan.
The company with the largest total initial fundraising since September
Data source: Wind
According to industry sources, as of September 21, the semiconductor and semiconductor production equipment industry ranked first in the third quarter, with a total financing of 29.668 billion yuan; followed by the technology hardware and equipment industry and the capital goods industry, with a financing of 24.8 billion yuan and 20.325 billion yuan respectively.
Data source: Wind
It is worth noting that in the third quarter, there were 11 first-time semiconductor and semiconductor production equipment industry. Among them, 8 companies are listed on the Science and Technology Innovation Board, and Haiguang Information is also one of them. The company performed well in the domestic high-end processor field, with the initial fundraising amount of 10.8 billion yuan. According to the prospectus disclosed by it, the funds raised will be invested in the research and development of the new generation of Haiguang general processor, the new generation of Haiguang co-processing R&D, the construction of advanced processor technology R&D centers and the technology and development reserve funds.
full registration system is ready to go
In November 2018, the order to establish the Science and Technology Innovation Board and pilot the reform of registration system was issued, taking the lead in "breaking the problem" from the incremental market and opening a new stage of implementation of the registration system reform. In April 2020, the reform of the GEM and the pilot registration system kicked off, and the pilot expanded from the incremental market to the existing market. In November 2021, the Beijing Stock Exchange opened and launched a market operation, simultaneously piloting the securities issuance registration system . The matrix of capital market services for "hard technology", "three innovations and four innovations" and "innovative small and medium-sized enterprises" is more complete.
Today, 460 Science and Technology Innovation Board companies are accelerating their pace of innovation and continuously amplifying the industrial agglomeration effect of "hard technology" enterprises; under the registration system, 360 GEM companies gather nine strategic emerging industries, representing the most dynamic corporate group in China's economy in the past decade; among the 110 Beijing Stock Exchange companies, strategic emerging industries account for more than 80%, and the path to serve the main battlefield of innovative small and medium-sized enterprises is becoming clearer.
Chairman of the China Securities Regulatory Commission Yi Huiman recently stated that the conditions for fully implementing the registration system for stock issuance are basically met. Industry insiders expect that by opening the door to the registration system, relying on institutional innovation, supporting regulations and other guarantees, the multi-level capital market will achieve higher efficiency resource allocation, helping China's economy respond to changes, create new opportunities, and open up new situations.
Edited by: Zheng Yashuo
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