Persistent in ideals and pure in the present, China Venture continues to observe the development process of scientific and technological innovation from the perspective of capital, so that the future trajectory is more within reach.

 Text丨China Venture Research Institute
  Source丨Invest in China

In recent years, China has experienced earth-shaking changes in the external environment, and the "scientific and technological war" launched by developed countries against China has made the development of "stuck neck" technology gain unprecedented attention. Scientific and technological innovation has become particularly important, and domestic policies have also been tilted towards core technology fields such as high-tech, specialized, special and new, and related innovative enterprises have gained more and more attention. As an important channel and means of capital supply and industrial support, equity investment is also playing a positive and key role.

China Venture Information has released the "Sharp Company 100 List" for three consecutive years, focusing on scientific and technological innovation tracks including cloud computing, big data, Internet of Things, artificial intelligence, semiconductor chips, biomedicine, medical devices, smart medical care, and enterprise services. Based on the activity of growth enterprises in the above-mentioned fields in the capital market, the list of "China Venture Rui 100" selects enterprises with high financing activity and strong growth potential, and names them as "Rui". Sharp is mang, from the gold and the sound, since the edge is exposed, born to move forward bravely, in the world, in the forest. Persistent in ideals and pure in the present, China Venture continues to observe the development process of scientific and technological innovation from the perspective of capital, so that the future trajectory is more within reach.

In this list, the China Venture Research Institute comprehensively selected the 100 most innovative and growing innovative technology enterprises of the year from the three dimensions of external attention, industrial synergy and industrial influence, and comprehensively conducted registration collection, questionnaire research, industry expert visits and data analysis. As an innovative technology-based new material enterprise, Morion Nanotech was on the list.

Capital and technology: Positive interactions are taking place

In order to better guide the development of science and technology, the state has encouraged the flow of capital and industry to scientific and technological innovation through various means, and has achieved remarkable results. From the perspective of important exit channels for domestic technology companies, since the establishment of the Science and Technology Innovation Board in 2019, more than 500 listed companies have been ushered in. Equity investment institutions are also gradually increasing the proportion of small and medium-sized scientific and technological innovation enterprises, making capital an important source of driving force for the rapid development of such enterprises. According to CVSource's investment data, nearly 90% of the companies listed on the STAR Market have been invested by equity institutions.

Better exit prospects have also further boosted the focus of private equity firms on small and medium-sized technology innovation companies, which has also increased the investment in early-stage and growth-stage technology companies in the private equity sector, and the amount of investment has also increased significantly. Judging from the financing performance of the companies on the list, the B and C round stages of enterprises have reached 6 percent, and the companies with strong growth expectations and industry influence have received faster capital support, among which the most prominent ones have received 3 rounds of financing in just one year. From the perspective of financing amount, more than 2% of enterprises in the latest round of financing of more than 1 billion yuan; Enterprises with a financing amount of 5-1 billion yuan account for nearly 3 percent.

"Innovation" and "hard core" are the focus of capital

Funds and enterprises are entering more and more fields of "innovative" and "hard-core" technologies, and "domestic substitution" is particularly prominent. From the perspective of the coverage of the companies on the list, medical and health, semiconductor and integrated circuits, and artificial intelligence companies occupy the top three companies on the list, accounting for a total of 6%. From the perspective of the domestic industry, there is still a large gap between the innovative pharmaceutical, medical device and semiconductor industries and international companies, and there is a huge risk of being stuck at a critical moment in the future.

Having "official certification" is also an important criterion for judging the investment of capital in enterprises. From the perspective of the listed enterprises, the proportion of enterprises with national high-tech and specialized, special and new certification is more than 4 percent, and the proportion of enterprises with provincial and municipal high-tech certification is more than 8 percent. Most of these enterprises have been focusing on the subdivision track for a long time, and can master the core technology of the industry through research and development, continuously drive product transformation and upgrading, and occupy a dominant position in the industry competition.