Hangzhou company shares experience of BSE listing
At the 2021 Zheshang Annual Conference held on Nov 24, Zhang Guomin, chairman of Gcom Technology Co, gave a speech about how the company successfully went public on the newly-established Beijing Stock Exchange.
Founded in Hangzhou's Binjiang district in 2012, Gcom Technology Co is a high-tech enterprise focusing on the research and development, sales, as well as services related to wireless network optimization. It is currently the only BSE-listed company in the city.
The BSE, the third bourse in China following the decades-old Shanghai Stock Exchange and Shenzhen Stock Exchange, has been tasked with serving the financing needs of specialized and innovative small- and medium-sized companies.
Of the 81 BSE-listed companies that started trading on Nov 15, 71 were directly transferred from the NEEQ Select, the highest tier of the eight-year-old National Equities Exchange and Quotations system, an over-the-counter market in Beijing that is also known as the New Third Board.
Before being listed on the BSE, Gcom Technology Co had been listed on the New Third Board for four years.
According to Zhao, the number of NTB-listed enterprises is currently around 7,000, down from 10,000 in 2016. The significant drop in listed enterprises was largely attributed to voluntary exits made by companies that ultimately found that the NTB was not helping them. However, Zhao said that Gcom Technology Co reaped tremendous benefits from the NTB in its process of improving corporate governance, initiating three rounds of private placement financing, obtaining bank credits, and developing a team catering to the capital market.
Zhao added that he believes that the auditing requirements to list on the BSE are even higher than that to list on the mainboard of the Shanghai Stock Exchange or the Shenzhen Stock Exchange. He attributed the company's success in listing on the BSE to its advantages in normative corporate governance, core competitiveness, and business sustainability.
Zheshang, which refers to businesspeople from Zhejiang, is a business magazine popular among entrepreneurs in the province. The magazine's annual conference consistently gathers a large number of influential entrepreneurs and academics from the province and beyond.
Zhang Guomin, chairman of Gcom Technology Co, gives a speech entitled "Why the Beijing Stock Exchange has chosen Gcom" at the 2021 Zheshang Annual Conference held on Nov 24. [Photo/zjol.com.cn]
November 25, 2021
November 24, 2021