中金公司总裁王曙光：助力硬科技企业与全球资本高效对接

Core Viewpoint - The key to supporting hard technology companies in overseas financing lies in domestic securities firms acting as a bridge between industry leaders and international capital, facilitating efficient connections for Chinese tech innovation companies to participate in global competition [1] Group 1: Industry Trends - The domestic securities industry is shifting from a "scale-oriented" approach to a "quality-driven" model, focusing on service quality and business innovation due to changing market conditions and regulatory policies [2] - Business models are transitioning from "channel services" to "full-chain empowerment," emphasizing comprehensive financial service solutions that cover the entire lifecycle of client development [2] - The pace of internationalization is accelerating, with domestic securities firms actively expanding into overseas markets to enhance global service capabilities, aligning with the trend of economic globalization [2] Group 2: Company Initiatives - To systematically enhance service capabilities and innovate service models, the company is implementing a strategy of "three comprehensives" and "three transformations," which includes full client coverage, full lifecycle control, and product upgrades [2] - The company has established a specialized service center for innovative enterprises, providing a full chain of services from technology achievement transformation to capital market entry [2] Group 3: Market Performance - The company has demonstrated improved international competitiveness, with four out of the top five underwriters in the Hong Kong IPO market being mainland firms, collectively holding over 30% of the underwriting share [3] - The company assisted 40 domestic tech innovation companies in completing overseas listings, raising over 930 billion yuan in total financing, including the largest global IPO project of 2023 for Ningde Times [3] - The company has successfully attracted numerous sovereign wealth funds and long-term international investors to optimize global resource allocation for Chinese manufacturing [3] Group 4: Risk Management - The company emphasizes the importance of helping issuers act in accordance with market conditions and managing risks throughout the project execution process [4] - The company believes that investment banks need to anticipate potential risks earlier than clients and help them seize market opportunities [3] Group 5: Policy Impact - Ongoing reforms in the capital market are injecting vitality into the development of tech innovation companies, with policies like the "1+6" policy for the Sci-Tech Innovation Board and new regulations for mergers and acquisitions facilitating the "technology-industry-finance" cycle [5] - These policy measures are expected to create incremental business opportunities for investment banks in assisting tech innovation companies with listings and refinancing [5]