Qingdao-based Yunlu Advanced Materials Co., Ltd. was listed on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange (SSE) on November 26, which is a Chinese leading manufacturer of amorphous alloy materials, as well as Shandong's 17th company listed on the STAR Market. Shandong's enterprises have achieved fruitful results on the STAR Market since November, with Rongchang Pharmaceuticals Ltd. and Kengic Intelligent Technology Co., Ltd. passing the reviews of STAR Market IPO and listing on November 11 and 19 respectively.

As a pioneer of driver conversion, Shandong has spared no efforts to seize the sci-tech highland. Over the past two years since the establishment of the STAR Market, Shandong's enterprises have forged into the market, including "hidden champions" in industrial segments and world leading providers of "hardcore" technology solutions.

Addressing financial problems for innovations and R&D

R&D is the core power for the development of STAR Market-listed enterprises.

"The STAR Market has addressed financial problems for R&D and innovations, and provided adequate capital to us," said Zheng Yongqing, President of Dareway Software Co., Ltd.

Headquartered in Jinan, Kexing Biopharm listed on the STAR Market in December 2020 is an innovative biopharmaceutical enterprise mainly engaged in the R&D, production and sales of recombinant protein therapeutics and microecological agents. According to its Q3 performance report, the company registered an R&D investment of 75.67 million yuan in the first three quarters, up 78.54% year on year, far exceeding the annual total of 60.11 million yuan in 2020. In the third quarter alone, the company posted an R&D investment of 33.24 million yuan, up 153.95% year on year.

"Credit endorsement" boosts corporate development

"Boosted by 'credit endorsement' for the STAR Market, we have drawn increasing attention and enjoyed growing popularity, gaining recognition from the capital market." After being listed on the STAR Market, Bloomage Biotech, one of China's first enterprises to be listed on the market, has maintained rapid development, kept entering broader markets, and developed differential functional products to constantly increase the "ceiling" for corporate growth, said Li Yizheng, Vice President and Board Secretary of Bloomage Biotech."

Shandong's enterprises perform brilliantly on STAR Market

Over the past two years since the establishment of the STAR Market, Shandong's enterprises have achieved brilliant results by "hardcore" technologies, demonstrating the new image of Shandong.

To date a total of 17 enterprises in Shandong have been listed on the STAR Market, including 5 in Jinan and Qingdao each, 3 in Zibo, and 1 in Dezhou, Jining, Weihai and Yantai each. In terms of strategic emerging industries, 4 are from the energy conservation and environmental protection industry and the biological industry each, 3 are from the next-generation information technology industry and the new energy industry each, 2 are from the high-end equipment manufacturing industry and 1 is from the new materials industry.

The boom in the number of STAR Market-listed enterprises shows Shandong's tremendous innovation strength, as well as the great determination and efforts of Shandong's enterprises to forge into the capital market. In recent years, Shandong has attached great importance to the listing and financing of innovative enterprises, and teamed up with SSE and other institutions to establish STAR Market Business Incubation Center (Shandong), the first of its kind in China. Via the center, the Local Financial Regulatory Bureau of Shandong Province has trained more than 100 key proposed STAR Market-listed enterprises in forms such as online class, listing Q&A, expert lecture, survey & visit and trainee exchange. To remove barriers for listing, the bureau has coordinated to solve the difficulties and problems of reviewed, tutored and trained enterprises arising in their IPO and listing.