"After entering the capital market, we raised these capitals, which provided us with the guarantee and conditions for our sustained innovations." Gao Chunhai, chairman of Traffic Control Technology Co., Ltd. (688015.SH), said in a speech presented at the 2020 Summit of Science and Technology Leaders held by Securities Daily on July 22.

Speaking of his feelings since the first anniversary of listing, Gao Chunhai was full of emotion. "We had spent 10 years doing what foreign countries have done for 30 to 50 years, but we were still playing a role of a pursuer." In the view of Gao Chunhai, "it was our goal to seize the opportunity of the rapid development of China's rail transit through the capital market and make our technology lead one to two generations ahead of others in the world." The listing offered us such a possibility. "

Six questions become the touchstone of technology innovation nature

In the view of Gao Chunhai, the science and technology nature of Science and Technology Innovation Board has brought six questions to science and technology enterprises. Gao Chunhai specifically pointed out that the six questions are as follows: whether enterprises mastered core technologies independently; whether they could produce products through relevant innovation platforms; whether their technologies and products were recognized and followed by their peers; whether they were recognized by users and the market; whether the enterprise had and maintained the ability of continuous innovation; and what benefits and promotions the enterprise's technology could bring to the country and the industry.

"To respond to these six points one by one, we can find that Science and Technology Innovation Board actually had high requirements for enterprises." "Before listed, we were constantly proving that our company had a strong science and technology innovation nature, and eventually became one of the first 25 companies for Science and Technology Innovation Board to be listed," said Gao Chunhai. "

Talking about the listing process, Gao Chunhai said frankly that the registration system had brought great challenges to enterprises. "Our prospectus was actually very thick." "Because people really didn't know what kind of prospectus should be written under the registration system, they could only write as much as possible," Gao Chunhai recalled.

In the view of Gao Chunhai, the registration system actually brings an advantage, that is, it puts the responsibility on the securities firms, intermediaries, and the enterprises themselves at the same time, and also gives more information to investors. Therefore, public investors can know more about the enterprise and study the growth and investability of the enterprises.

Gao Chunhai also pointed out that the registration system was also guiding investors to make long-term investments. "Science and technology innovation did not happen in one day and may take five years, ten years, or even more," said Gao Chunhai frankly. "We could see that some companies listed at the Science and Technology Innovation Board were not profitable for the time being. Science and Technology Innovation Board has given these enterprises a platform for financing, and is also guiding investors to mine the long-term investment value of enterprises.

"One of Science and Technology Innovation Board's biggest attributes was how to enable the science and technology nature of enterprises to enhance the innovation ability of the whole country and realize the rejuvenation of the country through science and technology and the power of science and technology." Gao Chunhai emphasized.

Science and Technology Innovation Board empowers scientific and technological innovation

"The technical threshold of traffic control technology was relatively high. After entering the capital market, we raised to provide us with guarantee and conditions for further sustainable innovation." Talking about the feeling of listing for a year, Gao Chunhai said.

Today, China's urban rail transit has achieved autopilot, and the signal system that makes China's rail transit run smoothly is called the "brain and nerve" of rail transit. The traffic control technology is the founder behind this set of "brain and nerve". Ten years ago, China's rail transit signal system relied on imports and was monopolized by a small number of international giants for a long time.

After 10 years of efforts, Traffic Control Technology has finally been able to stand side by side with international giants in the field of technology. By the end of 2019, Traffic Control Technology has achieved the first market share of domestic rail transit signal system for two consecutive years.

"But we were still playing a role of pursuers." Gao Chunhai said frankly that before we entered Science and Technology Innovation Board, if science and technology innovation enterprises had average profitability and wanted to further finance scientific and technological innovation, they had to face problems such as difficulty, high cost, and distraction. "Now I didn't have to worry about raising money every day and I wanted to do something new." "It was our goal to enable our technology to advance by one or two generations internationally through the capital market in the future," said Gao Chunhai.

Listing also provides more ideas for enterprises to attract and retain talents. "After listing, we actively used equity incentives to attract and retain talents. Therefore, we had greater competitiveness." Gao Chunhai said.

Speaking of Science and Technology Innovation Board's expectations, Gao Chunhai suggested that Science and Technology Innovation Board's system was still being improved. "I thought it was also necessary to speed up the targeting to some mature international market to make our system more conducive to full exertion of the nature of science and technology innovation." In the view of Gao Chunhai, "Science and Technology Innovation Board also shall release more vitality and provide opportunities and opportunities for more science and technology start-ups to stand out in the era of rapid development of science and technology."