Longpan Technology is listed on the Hong Kong Stock Exchange

On October 30, 2024, Nanjing A-share listed company Jiangsu Longpan Technology Co., Ltd. (Longpan Technology, 603906.SH, 02465.HK) landed on the Hong Kong Stock Exchange, raising HK$550 million in its initial public offering, becoming the first A+H-share listed company in the city this year and the fifth overall. As of the end of October, the city had three new Hong Kong-listed companies this year, accounting for 60% of the province’s new Hong Kong-listed companies that year.

Longpan Technology

The world’s major

Lithium iron phosphate cathode material manufacturer

It is also nationally renowned

Manufacturer of automotive fine chemicalsIn 2017, Longpan Technology was listed on the A-share market. This Hong Kong stock listing, through the “A+H” dual platform operation, will allow Longpan Technology to reach a wider range of investors, especially gain recognition from overseas capital markets, which will help to increase the company’s international visibility and influence. On the other hand, the Hong Kong stock listing will provide Longpan Technology with more diversified channels for raising funds. The low-cost funds obtained will help further increase the company’s investment in key areas such as technology research and development, market expansion, and capacity expansion, responding to Longpan Technology’s overseas layout strategy.

In recent years, under the guidance of the Municipal Party Committee Financial Office, Nanjing Economic Development Zone has taken the “Ninghang Action” plan for Nanjing enterprise listing as a guide, deeply implemented the accompanying service concept of “You go public, I serve”, actively guided and cultivated park enterprises to seize the development opportunities of the capital market such as Beijing Stock Exchange, Science and Technology Innovation Board, and Hong Kong Stock Exchange, and served various market entities in the zone with heart and soul, and empowered the high-quality development of park enterprises with a fair, efficient, and high-quality financial service environment. Since the beginning of this year, Nanjing Economic Development Zone has successively cultivated 3 companies to go public, ranking first among all sectors in the city.

Since signing a memorandum of cooperation with the Hong Kong Stock Exchange in 2023, the Municipal Party Committee Financial Office (formerly the Nanjing Local Financial Regulatory Bureau) has continuously promoted Nanjing companies to connect with the international capital market.

First, we will implement a service specialist system for listed companies. Each company that plans to go public will be assigned a service specialist at the municipal and district levels to track, provide services, and coordinate the resolution of issues during the listing process.

Second, simplify the business process. Replace the compliance certificate of relevant departments of the city with a one-stop credit report, so that enterprises can run less errands.

The third is to improve the level of informatization. Establish a Nanjing capital market cultivation information system, covering more than 1,000 companies planning to go public in the city, dynamically follow up on the progress of companies going public, and provide real-time services.

Fourth, focus on key enterprises. Focusing on high-quality and distinctive enterprises in industries such as information technology, biomedicine, and technology-based, specialized, and innovative fields, we will explore resources that can be cultivated for companies planning to go public, enhance companies’ understanding of the capital market, and accelerate the pace of connecting with the capital market.

Fifth, strengthen the linkage among all parties. All relevant municipal departments, district governments and development zones will work together to implement and coordinate the promotion of enterprise listing.

Sixth, we actively cooperate with the Hong Kong Stock Exchange and internationally renowned institutions to jointly hold training sessions and matchmaking meetings for companies going overseas for listing, so as to enhance companies’ understanding of the international capital market.

As of the end of October

There are 34 companies in the city listed in Hong Kong

Ranked first in the province

Formed two types of capital markets, domestic and overseas

A development pattern that keeps pace with each other