Starting with a struggle from the beginning, forging ahead from the outset | Four consecutive approvals for Henan enterprises' listings

The capital market is a barometer of regional economic health and a compass for industrial transformation.

On February 12, after review by the Beijing Stock Exchange Listing Committee, Henan Jiachun Intelligent Control Co., Ltd. (hereinafter referred to as “Jiachun Intelligent”) successfully passed the review, bringing it one step closer to listing on the A-shares. This is the fourth company from our province to successfully pass the review this year, and the “four consecutive listings” of Henan enterprises create a warm and encouraging spring scene.

Starting with effort and advancing with determination, in less than two months, four companies have passed the A-share review, and several others are competing for Hong Kong listing—Henan’s capital market demonstrates not only a sense of urgency and progress but also a strong momentum of industry advancement, backed by logical reasoning worth noting.

The change in a single enterprise is a response to “Henan Intelligent Manufacturing.” Jiachun Intelligent, which has just passed the review, is a high-tech enterprise focused on electrical control system products and integrated solutions. Its main products include motor drive control systems and complete machine control systems. It has established partnerships with major industrial vehicle manufacturers such as Hangcha Group, Anhui Heli, Noli, and LiuGong.

According to the information disclosed in the prospectus, Hangcha Group holds a 22.22% stake in Jiachun Intelligent, making it the company’s second-largest shareholder, as well as a core customer and strategic partner. Industry insiders believe that this deep binding model of “customer becoming shareholder and shareholders promoting collaboration” not only connects the upstream and downstream of the industry chain but also confirms a fact: Henan-made core components have already secured a leading position in the supply chain of top OEMs.

The collective change points to an answer from “specialized, refined, distinctive, and innovative” enterprises. The four Henan companies recently approved are all “hidden champions.” Shenglong Co., Ltd., with leading domestic molybdenum resources, has made significant progress in green mining and leads in intelligent mineral processing technology; Tianhai Electronics started from traditional wiring harnesses and has now become an important supplier of high-voltage connection systems for new energy vehicles; Haichang Intelligent specializes in automotive electronic equipment and provides intelligent manufacturing solutions for top automakers like BYD and Geely.

Behind this group profile is a clear commonality: in the strategic emerging industries of new energy vehicles, intelligent equipment, and new materials, Henan enterprises are no longer the traditional resource sellers, capacity competitors, or relying on manual labor. Instead, high R&D intensity, high market share, and a strong industrial chain position are becoming mainstream for Henan companies stepping confidently into the capital market.

The phenomenon of change points to an answer from “the international market.” Moutai Co., Ltd., which recently completed dual listings in Hong Kong and mainland China, plans to allocate 60% of its raised funds to overseas expansion, focusing on Southeast Asia, and advancing overseas mergers, acquisitions, and strategic cooperation. Companies like Jin Xing Beer, Hanwei Technology, Banu International, and Zhenshi Biological, which have clear intentions to list in Hong Kong, have attracted the attention of many international investors, reflecting that more and more Henan enterprises are preparing thoroughly for internationalization in corporate governance and strategic vision.

Competing for listing on the capital market is not an overnight achievement. In recent years, our province has regarded enterprise listing as an important driver of industrial transformation and upgrading, establishing a tiered development pattern of “discovering, cultivating, guiding, and listing” enterprises. Henan companies are also finding a broader stage within the dual-driven pattern of “mainland A-shares + Hong Kong new listing platform.”

In the vibrant capital market, the “Henan Legion” is rising. (Reporter: Jia Yongbiao)

Editor: Qin Zhen

[Source: Henan Daily]