Refile: Some of the biggest candidates for Shanghai's new tech board

News June 11, 2019 4 Comments

Refile: Some of the biggest candidates for Shanghai's new tech board

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SHANGHAI: Shanghai’s new Nasdaq-style Sci-tech Innovation Board has so far drawn applications from 120 companies.

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The board is aimed at promoting growth in industries such as chip-making, artificial intelligence, precision equipment and other high-end manufacturing, as well as biotech, new materials and green technology.

Below are some of the biggest listing hopefuls with details of their IPO plans from their prospectuses.

Advanced Micro-Fabrication Equipment Inc China (AMEC)

Founded by semiconductor industry veteran Yin Zhiyao, the company manufactures equipment used to make microchips. Qualcomm Inc has a 1.1per cent stake in the firm whose competitors include Applied Materials Inc, Lam Research and Tokyo Electron Ltd. It plans to use the proceeds to upgrade its technology, expand production and supplement working capital.

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IPO plans: aims to raise 1 billion yuan (US$145 million) by selling 53.5 million new shares, or 10per cent of its enlarged capital base which could give it a market value of US$1.45 billion.

2018 earnings: revenue climbed 68per cent to 1.6 billion yuan while net profit attributable to shareholders tripled to 90.9 million yuan.

Beijing Kingsoft Office Software Inc

Kingsoft Office, controlled by Xiaomi founder Lei Jun, is the biggest Chinese provider of office software and dominates the market for software for government agencies and state-owned companies. It is seeking funds to improve its technology and research programmes.

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IPO plans: aims to raise 2 billion yuan by selling up to 101 million shares or 21.9per cent of its enlarged capital. That could give it a market capitalisation of about US$1.4 billion.

2018 earnings: revenue rose 50per cent to 1.1 billion yuan while net profit attributable to shareholders jumped 45per cent to 310.7 million yuan.

Bloomage Biotechnology Corp (Bloomage Biotech)

A maker of biochemical products for use in the pharmaceutical, cosmetic and health care sectors, Bloomage Biotech plans to use the IPO proceeds to upgrade its R&D center, and expand production.

IPO plans: it wants to raise 3.2 billion yuan by issuing up to 49.6 million new shares or 10per cent of its enlarged capital base. That could give it a market capitalisation of US$4.5 billion.

2018 earnings: revenue jumped 54per cent to 1.3 billion yuan while net profit attributable to shareholders nearly doubled to 423.9 million yuan.

China Railway Signal & Communication Corp (CRSC)

A provider of railway signal and communication technology, CRSC is seeking a secondary listing to beef up research and manufacturing facilities. It competes with Alstom Holdings, Bombardier Inc and Siemens AG.

It hopes to raise 10.5 billion yuan by issuing up to 2.2 billion shares, or 20 percent of its enlarged capital base, which could give the company a market value of US$7.6 billion.

2018 earnings: revenue rose 16per cent to 40 billion yuan while net profit attributable to shareholders was up 6per cent at 3.4 billion yuan.

HeJian Technology (Suzhou) Co Ltd

The semiconductor foundry business owned by United Microelectronics Corp wants funds to expand manufacturing capacity and improve technology.

IPO plans: it aims to raise 2.5 billion yuan by selling up to 400 million shares or 10per cent of its enlarged capital base, which could give it a market value of about US$3.6 billion.

2018 earnings: revenue was up 10per cent at 3.7 billion yuan. Excluding extraordinary items, it made a net loss of 146.4 million yuan. It has posted losses each year over the past three years.

Montage Technology Co Ltd

A fabless chipmaker that was previously listed on the Nasdaq, Montage is seeking funds to upgrade its technology.

IPO plans: it aims to raise 2.3 billion yuan via the sale of up to 112.98 million new shares or 10per cent of its enlarged capital base. That could give it a market value of about US$3.3 billion.

2018 earnings: revenue climbed 43per cent to 1.76 billion yuan while net profit attributable to shareholders doubled to 736.9 million yuan.

Ningbo Ronbay New Energy Technology Co

The maker of electrode materials for lithium-ion batteries is seeking funds to expand production and replenish capital.

IPO plans: it aims to raise 1.6 billion yuan with the sale of up to 45 million shares or 10per cent of its enlarged capital base. That could give the firm give a market value of about US$2.3 billion.

2018 earnings: revenue surged 62per cent to 3 billion yuan while net profit attributable to shareholders jumped nearly seven-fold to 212.9 million yuan.

(US$1 = 6.9279 Chinese yuan)

(Reporting by Samuel Shen and Josh Horwitz; Editing by Edwina Gibbs)

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