Nine companies set to join China's new tech board

The Shanghai Stock Exchange has accepted the first batch of listing applications for its new Science and Technology Innovation Board from nine companies, according to information revealed on the exchange's website on March 22.

The nine companies, who plan to raise about 11 billion yuan ($1.63 billion) in total, are from the technology sector, including three companies from new generation information technology, one from new material, one from new energy, two from advanced equipment and two from biomedicine.

Among them, three are based in Jiangsu province, two are from Hubei, and the rest are from Shandong, Zhejiang, Guangdong provinces and Shanghai.

The new innovation board, which functions to cut regulatory red tape and pilot a registration-based listing system to replace the current approval-based listing system, focuses on facilitating financing of companies in high-tech and strategically emerging sectors.

Let's take a look at the chosen nine.

Wuhan Keqian Biology Co Ltd

Industry: Biomedicine