The Science and Technology Innovation Board (STAR Market) is set to celebrate its fifth anniversary since its establishment on November 5, 2023. Over the past five years, the STAR Market has become the preferred choice for “hard technology” companies to go public, providing crucial support for high-tech companies to become self-reliant and self-sufficient.
As of October 31, 2023, there are 562 listed companies on the STAR Market, with a total market value surpassing 6 trillion yuan. These companies have raised nearly 900 billion yuan through initial public offerings (IPOs). In 2022, their operating income, net profit, and R&D investment all exceeded 1 trillion yuan.
Several executives of listed companies have expressed their appreciation for the STAR Market, stating that it has provided convenient and scientific financing channels for technological innovation enterprises. They hope that the STAR Market will continue to be an oasis for scientific and technological innovation in China, contributing to the upgrading of the country’s industrial structure and high-quality economic development.
The STAR Market has a strong focus on strategic emerging industries. All 562 listed companies belong to strategic emerging industries and high-tech sectors. The integrated circuit field accounts for “half of the total” of similar A-share listed companies, with a total of 107 companies. The biomedical field, with 111 listed companies, is primarily focused on treatments for cancer, AIDS, hepatitis B, and hepatitis C. Additionally, the STAR Market has become a major listing place for new energy companies, with 15 photovoltaic companies and 19 power battery industry chain companies, driving the development of the green economy.
The STAR Market has also helped promote the virtuous cycle of capital and technology. Thus far, the listed companies on the STAR Market have raised a total of 899.309 billion yuan in capital, with an average of 1.603 billion yuan per company. The construction of the STAR Market has embraced the main line of reform to enhance inclusivity for technological innovation enterprises, supporting innovation in key core technologies. It has established diverse and inclusive listing conditions to meet the financing needs of science and technology innovation companies at different stages of development.
Executives from various companies have expressed their hopes for the future of the STAR Market. They believe that it can continue to leverage its unique advantages to provide financing support for more technologically innovative enterprises and attract more investors. They also hope that the STAR Market can contribute to China’s technological innovation undertakings and industrial structure upgrading. Finally, they wish for the STAR Market to play an important role in the development of China’s capital market and inject new vitality into the country’s sustainable economic development.
The fifth anniversary of the STAR Market is a significant milestone, showcasing its success as a platform for technological innovation and its impact on the Chinese economy. With its continuous growth and development, the STAR Market is poised to play an even greater role in the years to come.