As a hub for science and technology innovation enterprises, a series of innovative systems on the Sci-tech Innovation Board have injected new vitality into the coordinated development of technology, talent, and innovation, driving scientists to start businesses and the transformation of scientific research achievements into an 'era of gold'. According to statistics, among the listed companies on the Sci-tech Innovation Board, over6The founding team of the company consists of scientific researchers, engineers, and other scientific talents or industry experts.3The company has established cooperative relationships with universities and research institutes.
What are the advantages for scientists to choose to list on the Sci-tech Innovation Board? The trend of scientists starting businesses and going public has become a craze, with strong equity incentives for technical talents. Can these companies shoulder the banner of technological innovation? How are the listed science and technology companies performing in the secondary market? Frost & SullivanFrost & SullivanDr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan'), was interviewed by Securities Daily to discuss the above topics.
Securities Daily
Q
What are the advantages for scientists choosing to list on the Sci-tech Innovation Board?
Scientists choosing to list on the Sci-tech Innovation Board (STAR Market) mainly have the following advantages:
1It is conducive to motivating more researchers to innovate and start businesses, promoting the continuous output and transformation of scientific research achievements, and driving the development of science and technology;
2) It is conducive to expanding funding channels and thereby implementing equity incentives and shareholding plans, effectively combining and protecting the interests of shareholders, the company, scientists, and other parties involved, and promoting the long-term sustainable development of the company;
3) It is conducive to enhancing the company's reputation and recognition, expanding partnerships, and attracting high-end talents.
Q
The trend of scientists starting businesses and going public has become a craze, with strong equity incentives for technical talents. Can these companies shoulder the banner of technological innovation? What do you think?
Scientists start businesses and go public mainly in high-tech industries, involving a large number of technological innovation activities. Such companies are characterized by large initial investments and long cycles. Therefore, equity incentives for technical talents can stabilize the company's business operations to a certain extent.
The core purpose of scientists starting businesses is technological and product innovation, which makes enterprises pay more attention to sustainable development and continuously advance scientific and technological innovation. This has played a positive role in promoting scientific and technological innovation in our country. At the same time, our government is also strengthening its advocacy, encouraging, and promoting the integration of industry, academia, and research. This year6month22The Ministry of Education, the Ministry of Industry and Information Technology, and the Intellectual Property Office jointly issued the 'Notice on Organizing the 'Thousand Schools and Ten Thousand Enterprises Collaborative Innovation Partnership Action', encouraging universities, research institutes, and hospitals to cooperate with enterprises on scientific and technological achievements, and can support entrepreneurship according to specific circumstances.
Under the guidance of policies and market environment, China's technology entrepreneurship has been continuously developing in depth, and the diversified development of scientists' roles has become inevitable. In the future, as more cases of scientists and tech companies going public emerge, they will play a positive guiding role in the development of China's technology innovation enterprises, helping our country make breakthrough progress in some key areas.
Q
What is the performance of currently listed science and technology companies in the secondary market?
Leading enterprises in high-precision and cutting-edge industries all include cases where scientists founded, managed, and ultimately listed on the Sci-tech Innovation Board. At the same time, these scientist-founded companies have grown rapidly and gained the favor of investors from various sectors in the secondary market. The main representative companies include well-known enterprises such as Zhongkong Technology, Anlu Technology, Baisu Electronics, Aibo Medical, and HuaFeng Measurement & Control.
As the leader in process industry control, CIMC Technology leads the industry's layout of automation.4.0The products include automation control systems, industrial software, etc., leading global well-known enterprises such as industry competitors Emerson and Honeywell. Since the company went public on the secondary market, as of2022year11month21On the same day, the stock price started from35.73The yuan rose all the way to98.45Yuan, with the stock price having increased cumulatively175.5%The founder of the company is a renowned expert in automation across industry and academia in China.
Anlu Technology is a leading integrated circuit company in China, andAThe first stock focused onFPGAA listed company in the business sector. The company focuses on developing general-purpose programmable logic chip technology and system solutions. Since its listing on the secondary market, as of2022year11month21On the same day, the stock price started from26.00The yuan rose all the way to70.78Yuan, the stock price has increased cumulatively172.2%The company's chairman is a senior engineer in integrated circuits.
As the leading company in domestic laser cutting control systems, Baisu Electronics has seen continuous growth in market share across high, medium, and low-power segments, with accelerated import substitution. The company is located in the midstream of the laser industry chain, serving as the brain of the product line, which is an important component. Since its listing on the secondary market, as of2022year11month21On the same day, the stock price started from68.58The yuan rose all the way to253.50Yuan, with the stock price having increased cumulatively269.6%The five founders of the company are all masters of engineering from Shanghai Jiao Tong University.
Aibo Medical mainly deals with ocular consumables, with key products including intraocular lenses and orthokeratology lenses. It has broken the long-standing oligopoly of foreign pharmaceutical materials and become a leading domestic alternative company. Since its listing on the secondary market, as of2022year11month21On the same day, the stock price started from33.55The yuan rose all the way to222.34Yuan, the stock price has increased cumulatively562.7%The founder of the company holds a doctorate and is a professor-level senior engineer, as well as a renowned expert in ophthalmic consumables.
As one of the earliest domestic enterprises engaged in semiconductor testing equipment, Hua Feng Test & Control mainly focuses on analog and mixed-signal testing equipment. Since its listing on the secondary market, as of2022year11month21On the same day, the stock price started from107.41The yuan rose all the way to256.96Yuan, the stock price has increased cumulatively139.2%The founder of the company is a renowned expert in electronic components.
Therefore, there are many successful cases of scientist enterprises listing on the Sci-tech Innovation Board, which have withstood the test of time. The secondary market has a special preference for scientist enterprises, offering great growth potential.
Q
Is it expected that the current wave of entrepreneurial activity among scientists will continue in the future? What suggestions are there regarding the development of innovation systems on the Sci-Tech Innovation Board or after companies go public?
Driven by the policy of jointly issuing the 'Notice on Organizing “Thousands of Schools and Ten Thousand Enterprises Collaborative Innovation Partnership Action” by the Ministry of Education, the Ministry of Industry and Information Technology, and the Intellectual Property Office, as well as the capital push from investors in high-tech, new technology, and sophisticated industries, The development path from 'technology-driven' to 'enterprise-driven', then to 'industry-driven', and finally to 'economy-driven' will be further unblocked. It is expected that more and more scientists will choose to start businesses in the future.
The marketization of scientific and technological achievements requires efficient integration of technology and the market. Firstly, scientists starting a business need a more complete ecosystem to support them, including a communication platform that can connect resources, services, collaboration mechanisms, and other participants. By conducting long-term, in-depth exchanges on resources and R&D progress among all parties, opportunities for scientific research achievements to be circulated into the market can be promptly identified; Secondly, after going public, enterprises need to be able to understand both technology and market demand"Technology Broker"As a bridge connecting to the market, choose approaches that better meet market needs in the process of transforming scientific and technological achievements.
*This interview was published in Securities Daily.11month22dayA3Edition, reporters Hou Jiening and Mao Yirong, original text named "The Deep integration of technology and capital A large number of key technology researchers have stepped onto the stage of the Sci-tech Innovation Board >> (Click on "Read the Original Article" at the end of the text to read the full report).
