Chongqing - According to the latest update on the National Equities Exchange and Quotations (NEEQ), also known as the New Third Board, Chongqing Zhouhai Intelligent Technology Co., Ltd. joined the New Third Board on September 9.
Some wearable products from Zhouhai Intelligent. (Photo/Chongqing Zhouhai Intelligent Technology Co., Ltd.)
Zhouhai Intelligent specializes in smart wearable products, including advanced hardware and software for pedometers, sleep tracking, heart rate monitoring, blood oxygen measurement, and ECGs (electrocardiograms). Its technology supports well-known companies like Xiaomi, Longcheer, Andon Health, Transsion, Sharetronic Data Tech, and Nexxbase.
To accelerate businesses' listing processes, the Chongqing Share Transfer Center launched a dedicated board on October 12, 2023. This board is structured into three tiers - incubation, standardization, and cultivation - offering companies tailored support for financing, improving corporate governance, and providing listing guidance based on their development stage.
Following the board's launch, Chongqing Share Transfer Center, in collaboration with financial institutions such as Southwest Securities and the Industrial and Commercial Bank of China (ICBC) Chongqing Branch, has developed exclusive service products for this new board.
The exclusive services include financing, consulting, and brand promotion. For example, ICBC Chongqing Yuzhong Sub-branch provides specialized credit support to companies listed on the dedicated board, offering loans up to 100 million yuan (approximately USD 14 million) with a maximum term of 3 years at an interest rate as low as 3.2%.
The loan process is efficient, with approvals available through an online system and an offline green channel for added convenience.
On December 22, 2023, Zhouhai Intelligent Technology advanced to the cultivation tier of the specialized board. In March 2024, the company utilized the green channel mechanism established by the Chongqing Share Transfer Center and the National SME Share Transfer System to apply for listing on the New Third Board.
Zhouhai Intelligent Technology became the third Chongqing company to be listed on the New Third Board this year, following the listings of Chongqing Spring Technology Co., Ltd. in February and Chongqing Mage Customization Furniture in March.
Chongqing now has 72 enterprises listed on the New Third Board. Industry experts suggest these companies may leverage this platform as a pathway to listing on the Beijing Stock Exchange, which focuses on supporting innovation-driven SMEs and is set to expand into convertible bonds trading soon.
Since its establishment in 2021, the Beijing Stock Exchange has partnered with the New Third Board to connect early-stage SMEs with capital markets. This collaboration aims to help these companies raise funds, grow, and eventually list on larger exchanges.
Several Chongqing companies, including Newange Ambient Intelligence, Chongqing Hong Xi Technology Co., Ltd., and KOPPERCHEM, have successfully transitioned from the New Third Board to being listed on the Beijing Stock Exchange, marking a significant milestone in their growth journey and cementing their status among China’s leading innovation-driven enterprises. This achievement not only reflects their perseverance but also underscores the vital role of capital markets in fostering sustainable development and future expansion. Their success sets a clear path for others to follow, signaling a new era of opportunities for Chongqing’s SMEs.