Photo by Shunde News

A major breakthrough for Shunde! On April 12th, Guangdong LEARY New Material Technology Co., Ltd. went public on the STAR Market of Shanghai Stock Exchange, marking the second enterprise in Shunde to land on STAR Market since Guangdong Fuxin Technology Co., Ltd and the first in Xingtan to go public. LEARY stands to provide valuable experience for Shunde enterprises that plan on embracing capital market. A handful of government officials bore witness to such glorious moment - Ni Quanhong, Deputy Director of Guangdong Provincial Bureau of Finance, Zhao Hai, Deputy Mayor of Foshan, Huang Feifei, Deputy Secretary-General of Foshan Municipal Government, Wang Lei, Director of Foshan Bureau of Finance, Cai Wei, Deputy Mayor of Shunde District.

As a leader in functional coating film manufacturing and its application, LEARY specializes in R&D, production and sales in functional coating film and downstream application products. Technically, functional coating film is a composite film material that serves as the key ingredients for electronic components and an important module and terminal protective material for consumer electronics. LEARY is a self-reliant brand that broke the monopoly from international manufacturers.

Today, LEARY was listed with an Initial Public Offering of 37.14 million shares at an issue price of 9.51 yuan per share, which is expected to raise 353 million yuan that can be used for high-tech industrialization base projects in new materials and electronics, a protective film industrial base, high-speed signal transmission lines (4K, 8K, 32G) and its own R&D center.

It is obvious that Shunde is now putting intensified efforts to breed high-tech enterprises by leverage capital market. Over the past five years, more and more Shunde enterprises went public, thanks to the government’s commitment to a targeted supporting policy and providing high-quality services.

Photo on the Offical Website of Leary

In the face of a new development phase, Shunde District Bureau of Science and Technology has identified enterprises as a driving force for innovation. On one hand, for listed companies, it will make better use of policy tools that helps get rid of historical problems in accordance with laws and regulations; on the other hand, it plans to give full play to its industrial financial service platform that allows more enterprises to get listed on STAR Market and Growth Enterprise Market (GEM) in Shanghai. It is hoped that by the end of 2023, Foshan will be home to over a hundred public or NEEQ-listed (National Equities Exchange and Quotations) enterprises and 300 listed enterprises.

According to Tan Su, Director of Shunde District Bureau of Science and Technology, listed companies and companies to be listed are the key forces for high-quality economic growth in Shunde. In light of that, local government will continue to strengthen its awareness in scientific R & D, capital and financing, so as to breed outstanding enterprises and industrial clusters with more financial resources.

Author | Jersey
Revisor | Eleanor, Jessica