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Fei Xiaomei, deputy head of the Jiading district is on hand at the listing ceremony held on Nov 29 in the Shanghai Equity Exchange. |
Three companies from Shanghai’s Jiading district were listed on the Shanghai Equity Exchange, on Nov 29 – the Shanghai Xuanzhi Culture Media Co, Shanghai Lingxi Culture Communication Co, and Shanghai Xiongshi Powder Technology Co - all from the town of Anting, under Jiading jurisdiction.
Anting is known as an automobile town, and while none of the newly listed companies is in car-making, they can still help the local auto industry through management counseling or high-tech products. And, while the three have relatively small annual sales, with the greatest being around 60 million yuan ($9.85 million), they are nonetheless industry leaders in their own special fields. Xiongshi Powder, for example, has topped at the top of its field for three consecutive years in sales.
But, getting involved in the capital market, for these small-to-mid-sized enterprises (SMEs), could unstop a developmental bottleneck, or, in the words of Ding Xingliang, the GM of Lingxi Culture, "It’s often a problem for SMEs to raise funds, and getting listed on the exchange means we don't have to worry about that any longer and our next step is to look for strategic partners."
The exchange has 21 enterprises listed so far. Guo Hongjun, deputy head of the exchange, explains, "We don't have a high threshold, but the enterprises do need to have their own technology and the potential to develop. And, we give enterprises business management services, which can help them enter bigger capital markets.”
On hand for the listing ceremony were Fei Xiaomei, deputy head of the Jiading district, and Yu Zhuoping, deputy director of Jiading’s NPC standing committee.
Edited by Lin Hong and Roger Bradshaw