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On the afternoon of August 4, 2020, the STAR Market Exchange Conference organized by Shanghai Sci-tech Capital (SSC) and the Shanghai Stock Exchange (SSE) took place on the trading floor of SSE. Founding and managing partners of nearly 40 SSC-invested renowned funds exchanged views on concerns of sci-tech enterprises about STAR Market listing with SSE's leaders and experts related to STAR Market listing review and offering & listing service. Liu Xinyi, President of SIG and Chairman of SSC; Que Bo and Lu Wendao, Vice President of SSE; Li Jun, Deputy Director of the Shanghai Municipal Financial Regulatory Bureau; and Hou Jin, Full-time Deputy Director of the Shanghai Municipal Office of Technology Innovation Center Building attended and addressed the conference.

As a major move of SSE under the national strategy of innovation-driven development in the new situation, the establishment of the STAR Market and the pilot implementation of the registration system have provided a major development opportunity for equity investment institutions. The vast majority of enterprises listed on the STAR Market were supported by equity investment institutions. In the increasingly complex international environment, China is accelerating the formation of a new development pattern featuring the domestic cycle as the main body and the mutual promotion of the domestic cycle and the international cycle. The conference, delivered by SSC in association with SSE at the 1st anniversary of the STAR Market is aimed to help tier-1 VC institutions accurately understand the strategic orientation of the STAR Market and points of reviews under the new situation and pattern through face-to-face communication, thereby guiding invested sci-tech enterprises in grasping the opportunity from the STAR Market registration system to achieve a leap.

All the funds present were tier-1 funds that are active and influential in the market. The invested enterprises include most outstanding Chinese sci-tech enterprises in the fields of technology innovation, new economy and strategic emerging industries, hundreds of them have planned to apply for listing on the STAR Market in recent two years, but many had doubts or problems about policies and practices during applying for listing. At the conference, experts from the Offering and Listing Center and the Science and Technology Innovation Board Listing Review Center introduced the orientation of the START Market, the evaluation of the property of science and technology innovation, as well as the new progress of STAR Market review. The attendees exchanged views on issues such as the application of innovative enterprises with new models and new business for STAR Market listing, the reasonable review of the VIE structure, the exit of red chip companies' overseas stock shares and funds' involvement in strategic allotment.

The conference achieved good effects and gained unanimous praise from the attendees. SSC will further create a first-class sci-tech equity investment ecosystem, play its role as an FOF platform, work with SSE, invested funds, invested sci-tech enterprises and other sides to establish a mechanism of regular communication on the STAR Market, serve STAR Market building, make good use of the STAR Market registration system, and further focus on the sci-tech cause, support the sci-tech industry and cultivate sci-tech enterprises.

About SSC:

SSC is a market-oriented FoF set up in 2017 as required by the CPC Shanghai Municipal Committee and the Shanghai Municipal People's Government. It was initiated by SIG in association with cornerstone investors like Guosheng Group, SIPG, Shanghai Trust, Guotai Junan and Zhangjiang Hi-Tech. Its core mission is serving the building of Shanghai Technology Innovation Center into a technology innovation center. SSC has a targeted scale of 30 billion yuan and an initial management scale of 6.52 billion yuan. To date it has invested in nearly 40 equity investment funds, including renowned funds like Sequoia, Legend, Tencent, CICC, Lilly, GGV, GSR, Walden, Matrix, Gaorong, Source Code, Shunwei and Qiming.