Provincial enterprises in east China’s Jiangsu province have given full play to their unique advantages and insisted on prioritizing innovation and development in helping small and medium-sized science and technology enterprises to develop and serve local industrial transformation and upgrading so as to have truly made state-owned assets gain greater vitality.
Jiangsu Aidea Pharmaceutical Co., Ltd. has got the go-ahead for listing at the Shanghai Stock Exchange and is expected to become a listed company at the STAR market.
Aidea Pharmaceutical was established in 2009 and is principally engaged in the research and development of innovative drugs in major disease areas. Among them, new AIDS drugs, anti-malignant tumors and anti-inflammatory drugs with independent intellectual property rights have entered the clinical trial stage.
In the first half of this year, Aidea Pharmaceutical achieved an operating income of 163 million yuan. The company’s rapid development is inseparable from the venture capital contribution of Yi Da Capital, a subsidiary of Jiangsu Govtor Group.
Jiangsu Govtor Group is a state-owned enterprise engaged in venture capital. A few years ago, Jiangsu Govtor took the lead in carrying out mixed reforms in the same type of enterprises to form a market-oriented operation Yida Capital.
Govtor has focused on the transformation and upgrading of local industries, and at the same time taken market-oriented approaches to increase the support for small and medium-sized science and technology enterprises with broad prospects, great potential and strong stamina.
Govtor has also built a series of project platforms, organizes various road shows, thus effectively promoting the integration of technology, finance and industrial resources.
Today, Jiangsu Govtor has built up a cumulative management capital of more than 100 billion yuan by supporting more than 800 start-up companies, of which more than 170 have successfully landed in the capital market.
Dong Liang, CPC chief and chairman of Jiangsu Govtor
We have enhanced the investment in the earlier stage
and at the same time helped a large number of start-up enterprises
with their transformation and upgrading process
so that through mergers and acquisitions
we have integrated a large number of factor restructuring
to enhance corporate innovation capabilities
and better enrich our means
and tools for the promotion of entrepreneurial innovation
and emerging industries
The success of Jiangsu Govtor is a case in point in the accelerated development of the innovation-spurred growth of the provincial enterprises.
Statistics show the provincial enterprises have invested 12.99 billion yuan on R&D over the past three years, undertaken 150 scientific and technological projects at the provincial level and above and filed application for 1429 patents.
