Source: Qinhuangdao News Network
Contec Medical System (Qinhuangdao) Co., Ltd., as the only listed company of the first batch of the growth enterprises market (GEM) registration system reform in Hebei Province, debuted Shenzhen Stock Exchange on August 24. Ge Haijiao, deputy governor of Hebei Province, and Zhang Ruishu, deputy secretary of Qinhuangao Municipal Party Committee and mayor, attended the opening ceremony.
On the first day of listing, Contec performed well, with an issue price of 10.16 yuan, an opening price of 55 yuan, an increase of 441%, and an intraday highest price of 308 yuan, an increase of 2931.5%; the closing price of 118 yuan, an increase of 1061.42%, and a total market value of 47.41 billion yuan. In accordance with the relevant policies on promoting the listing of enterprises, Contec will be given a one-time funding subsidy of 2 million yuan for listing.
The GEM reform and pilot registration system is one of the major reforms planned and promoted by General Secretary Xi Jinping. At the historical moment of the 30th anniversary of the development of China’s capital market, the growth enterprise market “takes over” the science and technology innovation board to implement the registration system, and reform the registration system and its supporting basic systems from the incremental market to the stock market, which is not only a major measure to improve the basic system of the capital market, but also a major achievement of the new round of reform and opening up, demonstrating the strong confidence of the Party Central Committee in creating a standardized, transparent, open, dynamic and resilient capital market.
“As one of the 18 companies among the first batch of national GEM registration system reform, Contec is fortunate to participate in this historical process. We are honored, and there is a long way to go.” Hu Kun, chairman of Contec, said in an interview with reporters in Shenzhen by telephone, “We should thank the implementation of the reform of the deepening capital market and the GEM registration system. The innovation, efficiency and vitality brought about by the reform of the system and mechanism have endowed companies more choices, and provided a broader development space for enterprises to grow bigger and stronger based on the capital market.”
Contec has made great achievement in the first half of 2020. The prospectus shows that in the first half of the year, Contec achieved operating income of 751 million yuan, a year-on-year increase of 421%, which is because the sales of its infrared thermometers, pulse oximeters, and monitors have increased significantly due to the impact of COVID-19.
“We have attached great importance to the research and development of independent intellectual property rights, and maintained a relatively high level of research and development investment for a long time, and a market-oriented research and development mechanism.” said Fu Chunyuan, deputy general manager of Contec, adding that the company’s research and development investment has increased in 2017, 2018 and 2019, accounting for more than 8% of the current operating income. The core technical personnel all hold the company’s shares, which ensures the stability of the R&D core team and the continuity of technology. At present, the company has grasped the core technology of various products such as blood oxygen, monitoring, ECG, ultrasound, and blood pressure, etc. The products have been sold to more than 130 countries and regions around the world.
“With new opportunities and new challenges, we will insist on reforming, adhere to integrity and innovation, serve the motherland with the industry, develop and produce better medical products, strive to build the company into a world-class modern medical device manufacturer, promote the reform and development of Chinese capital market, and protect people’s health.” Hu Kun said.
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