A new epoch in China’s financial history is starting off as the Shanghai Stock Exchange opening bell is ringing today.
STAR Market, the SSE-based sci-tech board, is ready for the first day of open trading. In a few minutes, market users will be enabled to buy and sell shares of the stocks issued by 25 Chinese firms from a handful of knowledge-intensive industries, including semiconductors, software, new materials and biotech.
Download the recent EqualOcean report about the new venue.
All the applicants’ stocks were reportedly oversubscribed among the primary investors. As a result, the average P/E ratio of the first batch shot up to 53.4. Not to mention some extreme cases such as AMEC, a leading chipmaker that is valued at over 170 times earnings this time.
The total market valuation of the tech enterprises debuting on the SSE today amounts to CNY 236 billion (USD 34.29 billion) while the combined amount of capital raised during the public offerings hit CNY 37 billion (USD 5.38 billion). CRSC, a transportation industry behemoth, alone obtained over CNY 10.5 billion (USD 1.53 billion) in new funding.
The Chinese government launched the STAR Market in an attempt to ignite innovative development by providing alternative financing sources for domestic technology-driven businesses. The new trading platform has a set of advantages over other domestic boards.
EqualOcean STAR Market coverage
We have been following each of the 25 firms since the first IPO application submission date. Here they are:
AMEC (中微公司) (688012:SH)
Anji (安集科技) (688018:SH)
Appotronics (光峰科技) (688007:SH)
ArcSoft (虹软科技) (688088:SH)
BLT (铂力特) (688333:SH)
CRSC (中国通号) (688009:SH)
Endovastec (心脉医疗) (688016:SH)
Espressif Systems (乐鑫科技) (688018:SH)
Fangbang (方邦股份) (688020:SH)
Fine Yuan Technology (嘉元科技) (688388:SH)
Forecam (福光股份) (688010:SH)
Hangke Technology (杭可科技) (688006:SH)
Harmontronics (瀚川智能) (688022:SH)
HYC Technology (华兴源创) (688001:SH)
Micro-Tech (南微医学) (688029:SH)
Montage Technology (澜起科技) (688008:SH)
PIESAT (航天宏图) (688066:SH)
Raytron (睿创微纳) (688002:SH)
Ronbay New Energy (容百新能源) (688005:SH)
Tianyishangjia (天宜上佳) (688033:SH)
Traffic Control Technology (交控科技) (688015:SH)
TZTEK (天准科技) (688003:SH)
Western Superconducting (西部超导) (688122:SH)
Worldia (沃尔德) (688028:SH)
Xinguang (新光光电) (688011:SH)