Chongqing Xishan Science & Technology Co was listed on the Shanghai Stock Exchange (SSE) STAR Market on June 6, marking the second STAR-listed company for Chongqing and its fourth A-shared listed company in 2023.

Chongqing Xishan Science & Technology Co is listed on the Shanghai Stock Exchange (SSE) STAR Market. [Photo provided by Xishan Technology]

Located in the Digital Economy Industrial Park in Liangjiang New Area, Xishan Technology is a leading player specializing in surgical power devices. Relying on its self-developed technologies and a nationwide sales network, the company has sold its products to nearly 1,000 hospitals. According to a statement issued by China Association for Medical Devices Industry (CAMDI), it tops domestic competitors in brand awareness and market share.

Xishan issued 13,250,400 new shares at 135.80 yuan ($19.15) per share, a top IPO price in listed companies in Chongqing. The actual amount of funds raised was 1.799 billion yuan, and the net amount was 1.63 billion yuan. Funds will be invested in five projects of Xishan, including surgical power system industrialization and R&D center construction projects.

On the day of listing, Xishan Technology's share price opened at 178 yuan, up 31.08 percent from the issue price. The price reached 201 yuan before closing at 191.19 yuan, up 40.79 percent. The stock turnover was 1.62 billion yuan, with a turnover rate of 73.39 percent. The total market value hit 10.13 billion yuan.

In a remarkable display of success, Xishan Technology achieved a series of milestones in 2022. The company's revenue soared beyond 262.2 million yuan, while its net profit exceeded 75.35 million yuan, showcasing substantial growth with a CAGR of 43.49 percent.

These outstanding financial achievements reflect the company's strong market presence and strategic vision. Furthermore, Xishan Technology's commitment to innovation is evident in its patent portfolio, with a total of 941 domestic patents and 17 overseas patents by the end of 2022.