Reproduced from the Beauty of Multi-elements[U1] 

The application submitted by an enterprise in Chengdu's High-Tech Zone for getting listed on China's Science and Technology Innovation Board, the sole application of such kind in Southwest China as of today, has been accepted by the Shanghai Stock Exchange.

The enterprises' enthusiasm in applying for going public on and public attention to the Science and Technology Innovation Board of the Shanghai Stock Exchange is as hot as the increasingly rising temperature in Chengdu over thousand miles away!

It is understood that as of April 9, the total number of enterprises applying for getting listed on the Board has reached 57, 15 of which have been inquired. From the perspective of the source of the companies that have submitted such applications, these companies are mainly concentrated in the coastal areas.

Chengdu High-Tech Zone (South)

What advantages does Easton Biopharmaceuticals have to apply for getting listed on the Board?

The application for getting listed, a seemingly simple action of submitting related materials, actually requires a large pool of quality companies, to put it bluntly, it requires a number of potential top quality companies!

Such an application is also a test of the courage and resolution of a company, as the listing conditions of the Science and Technology Innovation Board are quite different from the previous listing boards at multiple levels. In addition to courage and resolution, tailor-made strategies and actions are also required.

A company is a market subject. Similar to a person, it has a "subject consciousness." Among the companies whose applications for getting listed on the Board have been accepted, the name of a company is extremely eye-catching, at least to me. On the one hand, the development momentum of this company is really good; on the other hand, this company happens to be a "familiar one" to me.

It is Chengdu Easton Biopharmaceuticals Co., Ltd (hereinafter referred to as "Easton Biopharmaceuticals") from the High-Tech Zone, Chengdu.

Along the path leading toward the capital market, Easton Biopharmaceuticals has drawn a lot of attention.

Let's trace back to a year ago.

On March 7, 2018, Sichuan Provincial Bureau of Financial Work released the list of the first batch of municipal (prefectural) key companies intended to go public, which would be used as an opportunity for the enterprises in our province to blend themselves into multi-level capital markets and enhance direct financing level, and for the finance industry to serve the real economy in an all-around way.

In the list, there are 50 Chengdu enterprises, including 11 enterprises in Chengdu High-Tech Zone, mainly involved in such leading industries as electronic information and biomedicine. It is worth mentioning in particular that all the enterprises selected from Chengdu High-Tech Zone have entered the counseling period for IPO and are marching toward the capital market. And Easton Biopharmaceuticals is one of them!

What is Easton Biopharmaceuticals committed to doing? After all, the "bio" field can be subdivided into many domains. It can be easily observed that the company registered at No. 8 Xiyuan Avenue, Chengdu High-Tech Zone, integrates drug research and development, production and marketing. Its previous output value ranked among the forefront of biomedical enterprises with new economic features in the High-tech Zone. And such a piece of news comes from the exclusive original report I wrote before.

Along with its development and growth, Easton Biopharmaceuticals has strengthened the awareness of capital market, improved its financial system with the help of securities traders, law firms and accounting firms, and established a modern enterprise management system.

Will Easton Biopharmaceuticals be listed or not? Let's follow the subsequent response of the Shanghai Stock Exchange.

Previously, the Shanghai Stock Exchange claimed that it will stick to the reform direction of marketization and legalization, accurately pinpoint the positioning of the Science and Technology Innovation Board, and steadily do well in the follow-up acceptance, review and approval of enterprises' listing applications, and other work; in the meantime, it hopes that stock issuers, intermediaries and market parties will work together to provide a good environment for quality innovative science & technology enterprises to go public, and jointly safeguard a smooth start, a steady and long-term development of the Science and Technology Innovation Board. 

It can be said that the Shanghai Stock Exchange's above statement is also the general keynote beneath its current promotion of the board registration system. As for the enterprises, it is far from easy to get listed under the current environment; for the capital market, the Shanghai Stock Exchange can ensure the quality of companies to be listed, and put the risks under control for investors in advance.

The Direct Financing of Sichuan Enterprises Remains Heated, Approaching CNY 300 billion

Some well-developed enterprises in a number of provinces and municipalities in various parts of China have shown intense interest in the Science and Technology Innovation Board, and are sparing no effort to go public on it. After all, they are fighting for financing. And the Board has offered a new way for enterprises to broaden their financing channels under the volatile economic situation.

Let's take Sichuan as an example. According to the statistics from the Sichuan Bureau, China Securities Regulatory Commission, in 2018, Sichuan's capital market realized a total of CNY 286 billion in direct financing, a year-on-year growth of 70%. It seems that the financing of Sichuan enterprises remains heated, and has achieved a good result. To put it specifically, firstly, the continued development of equity financing provides effective service to the supply-side structural reform; secondly, private equity funds have gradually constituted a new channel for the province's industries to obtain long-term funds; thirdly, the proportion of bond financing has been significantly increased, and solid steps have been taken toward asset securitization.

However, the hottest financing channel in the current Chinese capital market is still the Science and Technology Innovation Board!

The "2+6" systems and rules of the Board, after the solicitation and consideration of opinions, were finalized and officially implemented at the beginning of this year, signaling that the listing rules have been laid down. But as for this brand new reform of the Chinese capital market, how should the policies fit the enterprises? How should the enterprises thoroughly understand the policies, align themselves to the policies, pinpoint their own positions and then step on the listing rhythm?

There are different opinions about the above questions.

In short, among the teams striving for getting listed on the Board, Sichuan enterprises are one of the main forces. The leading team in this "main force" is mainly composed of the enterprises in Chengdu, and the high-quality enterprises in Chengdu are mostly located in Chengdu High-tech Zone.

As far as getting listed is concerned, in recent years, the enterprises in Chengdu High-Tech Zone have demonstrated a strong sense of direction, strategy and rhythm. And the High-Tech Zone, centering on enterprise restructuring, conversion into share capital, going public, mergers and acquisitions, and employee equity incentives, etc., has offered full chain support and assistance to the enterprises in the zone. 

Now, let's refocus our topic on Easton Biopharmaceuticals mentioned at the beginning of the article. Regardless of the result, the company deserves the attention from other enterprises in Sichuan, and can also serve as a study case for the enterprises in Southwest China, which are endeavoring to get listed on the Science and Technology Innovation Board.