Maenam High—Tech│Empowering Twin Cities, Leaping Forward in Sci-Tech Innovation: Maenam High—Tech's New Strategic Capital Layout in Shenzhen and Hong Kong

From August 30 to September 1, the Maenan High-Tech team commenced its first stop at the Shenzhen Capital Market Institute. Here, a series of courses closely aligned with domestic capital market reforms laid a solid foundation for enterprises. This conference focused on core topics including capital market reforms, growth pathways for science and technology innovation enterprises, and corporate governance, providing a high-end platform for in-depth exchange and resource matching among “specialized, refined, distinctive, and innovative”enterprises from across the nation.

Mr. Chen, Deputy Chief Representative of the Beijing Stock Exchange's South China Base, discussed the market's pivotal role in fostering a virtuous cycle among technology, industry, and finance. He emphasized that capital markets serve as a central hub, particularly providing an institutional foundation for accelerated development in strategic emerging sectors like biotechnology. This helped enterprises understand the enabling role of capital markets in technological innovation. Professor Lu from the STAR Market Companies Department of the Shanghai Stock Exchange proposed the STAR Market Growth Layer concept, offering enterprises a more inclusive listing pathway. Regarding internal corporate governance, Professors Lin and Fu, Deputy Directors of the IPO Expert Advisory Committee under the New Technology Industry Investment Branch, systematically outlined comprehensive listing planning and key timeline management. They elaborated on establishing scientific equity structures and clear capital pathways to enhance corporate valuation and market credibility.

Notably, Mr Wei, Senior Partner at Xinda Law Firm and member of the Beijing Stock Exchange's inaugural Listing Committee, presented practical case studies on equity structures and legal risks. His analysis cautioned entrepreneurs against common legal pitfalls in control arrangements and incentive scheme design. Additionally, Mr Han, an intellectual property expert from the New Technology Industry Investment Branch, delivered a course on patent strategy management. This course addressed the core challenges faced by technology enterprises during the listing process, emphasising the importance of scientifically designed equity structures, clear capital pathways, and rigorous legal compliance to enhance corporate valuation and secure dual trust from regulators and the market. These sessions cleared cognitive blind spots, particularly by integrating patent strategy with capital planning. They highlighted that intellectual property management is not merely a legal function but a vital component of corporate value creation.

On 5 September, the team proceeded to the Hong Kong Exchanges and Clearing Future Technology Summit, which presented a distinctly international perspective. The summit focused on global technological trends, international capital flows and cross-border financing innovations, exploring Hong Kong's unique value as an international financial centre in connecting mainland China with global markets. The event brought together technology industry leaders, investment institutions, and legal and financial experts from around the world. Participants concentrated on core topics including cutting-edge technological trends, international capital allocation strategies, and innovations in cross-border financing mechanisms. Together, they examined Hong Kong's distinctive role as a pivotal hub connecting mainland China with the global financial markets.

During the summit, the organisers arranged multiple high-level dialogues and thematic seminars covering hot sectors such as artificial intelligence, biotechnology, new energy, and fintech, providing in-depth analysis of financing pathways and compliance requirements under varying market policy environments. The Maenam High-Tech team gained in-depth insights into innovative financing tools such as the new Hong Kong listing rules and dual primary listings. They actively participated in multiple sessions, engaging in substantive discussions with representatives from HKEX management and prominent investment banks. This further clarified the details of Chapter 18C of the Hong Kong listing rules –the new regulations specifically designed for specialised technology companies seeking listing. Through this summit, Maenan High-Tech not only broadened its understanding of international capital markets but also laid a solid foundation for formulating the company's subsequent capital strategy.

The two events, while seemingly distinct in focus, have formed an organic strategic synergy. The training for specialised, refined, distinctive and innovative SMEs solidified the foundational capabilities for domestic listings on the Main Board, addressing the question of ‘how to list’. Meanwhile, the HKEX Future Technology Summit broadened the enterprises' international perspective, answering the strategic imperative of ‘how to develop post-listing’. This progression from foundational capabilities to global vision aligns precisely with the developmental trajectory of specialised, refined, distinctive and innovative enterprises – from becoming leaders in niche sectors to evolving into international corporations.

Following the meeting, Lu Wei, Chairman of Maenan High-Tech, summarised: ‘Our study in Shenzhen has equipped us with the fundamental rules and methodologies of the domestic capital market, while our experience in Hong Kong has opened our eyes to the vast horizons of the international capital market. These two are not mutually exclusive but rather complementary and symbiotic. For technology-driven enterprises like ours, it is essential to cultivate the domestic market while simultaneously developing an international perspective, thereby securing a proactive position in global competition.’

Through this Shenzhen-Hong Kong dual-city initiative, Maenan High-Tech has formulated a more clearly defined capital strategy. By leveraging Hong Kong's international market advantages, the company aims to attract global investors, enhance its international profile, and elevate its capital value. From Shenzhen to Hong Kong, from specialised, refined, distinctive and innovative enterprises to the international stage, Maenan High-Tech's dual-city journey exemplifies a new developmental trajectory for China's technology enterprises: rooted in the domestic market while embracing global opportunities; dedicated to technological innovation while adeptly harnessing capital. Against the backdrop of burgeoning new productive forces, this ‘technology + capital + market’innovation paradigm will provide robust impetus for the high-quality development of China's technology enterprises.