On June 14th, the Guangdong High-tech Enterprise Restructuring and Listing Training Meeting was held in the Guangdong Financial High-tech Zone by SZSE, the Department of Science and Technology of Guangdong Province, the Financial Affairs Office of Guangdong, and CSRC Guangdong Bureau. Peng Ming, deputy general manager of SZSE, attended the meeting and delivered a speech. A total of more than 300 representatives from science and technology departments and financial departments of prefectural-level and above, National High-tech Zone Administrative Committees, and over 160 high-tech enterprises attended the meeting.
This is the first meeting held by Guangdong Province to its key high-tech enterprises following the Science and Technology Innovation Meeting held in March this year. The purpose of this meeting is to strengthen the understanding of the leaders in science and technology departments, and financial departments of the role of the capital market, help executives of high-tech enterprises understand the development of the capital market, and increase their knowledge on how to accelerate innovative development with the capital market.
On the meeting, a number of industry experts from SZSE and securities companies respectively delivered lectures on hot topics regarding policies on new economic development supported by domestic multi-tiered capital market, the overall situation and basic procedures of IPOs in recent years, the planning and arrangement of company restructuring and listing. In view of the issues regarding stock issuance system, information disclosure, and capital operation that are of great concern to participating companies, relevant experts also explained through case studies, from different perspectives, on how to better implement corporate governance, standardized operation, and employee equity incentive before going public, and offered specific guidance on IPO planning to participating companies.
In recent years, the capital market has been playing an important role in serving innovation-driven strategies, promoting technological innovations, and constantly improving policies concerning innovative, leading and role-model enterprises. The high-tech enterprises have become the main force for enterprises listing in Guangdong Province. In the past five years, a total of 221 enterprises in Guangdong Province launched IPO in the A-Share market, which accounts for 20% of the total number of IPOs in China, ranking first nationwide for four consecutive years. And among these listed companies, 196 were high-tech enterprises and the IPO financing amount reached CNY120.89 billion. The capital market provides enterprises with cost-effective financing channels by leveraging comprehensive capital instruments, which play a prominent role in boosting R&D investment and accelerating development of high-tech companies. Statistics shows that of the 379 listed manufacturing companies in Guangdong, 305 enjoy high-tech enterprise qualifications, and their total R&D expenses in 2017 was CNY90.17 billion, which accounts for 37.9% of the province's R&D expenses, and their R&D intensity was 4.37%, 1.72% higher than the provincial average level.
At present, there are 33,000 national high-tech enterprises in Guangdong, and 16,738 of them are of large ones, with big potentials to go public. Next, SZSE will actively provide all-round, package-based corporate incubation services to better support the development strategies of Guangdong Province in the new era, support more innovative enterprises in Guangdong to enter the multi-tiered capital market, and accelerate the pace of development through private equity financing, IPOs as well as M&As, contributing to Guangdong's economic transformation and upgrading as well as its high-quality development.
