On November 8, 2019, Guangzhou GRG Metrology & Test Co., Ltd. (hereinafter referred to as GRGTEST), the core enterprise of Guangzhou Radio Group, was listed on Shenzhen Stock Exchange (stock abbreviation: GRG Test, stock code: 002967), with the issuing price of RMB 7.43/share and the total raised funds of RMB 614.2381 million.
GRGTEST, the internal laboratory of Guangzhou Radio Group, formerly known as Guangzhou Radio Plant (National 750 Factory), adheres to the historical profundity of Guangzhou Radio Group for 63 years, it has maintained a rapid development for more than ten years through the technological innovation driven by the institutional innovation. As a state-owned measurement and testing institution that completed the market-oriented reform earlier in China, GRGTEST successfully registered in the A-share market this time, becoming the third A-share listed company independently cultivated by Guangzhou Radio Group following GRG Banking (002152) and Haige Communications (002465), and the first share listed in Guangzhou Municipal State-owned Assets System in 2019. As the new member in leading the inspection and testing industry, we made new efforts to promote "high-quality development" and build a "great power of quality".
The listing ceremony was witnessed by nearly 200 people, including Chen Zhiying, Executive Deputy Mayor of Guangzhou Municipal People's Government; Chen Haotian, Party Secretary and Director of SASAC of Guangzhou Municipal Government; Luo Junfu, Member of the Party Committee and Chief Economist of SASAC of Guangzhou Municipal Government; Huang Kaixuan, Standing Committee Member of the CPC Guangzhou Tianhe District Party Committee; Chen Ping, Deputy Inspector of Guangzhou Local Financial Supervision and Administration; Pan Jianyun, Agency Director of China Everbright Securities; Yang Haizhou, Party Secretary and Chairman of Guangzhou Radio Group; Huang Yuezhen, Deputy Secretary of the Party Committee, Vice Chairman and General Manager of Guangzhou Radio Group and Chairman of Guangzhou GRG Metrology & Test Co., Ltd.; Huang Dunpeng, Party Secretary and General Manager of Guangzhou GRG Metrology & Test Co., Ltd., and other leaders, guests, clients and partners, news media journalists and staff representatives.
The first left to the forth left: Huang Yuezhen, Huang Dunpeng, Chen Haotian and Chen Zhiying
Jointly ring the bell to open the market for A-share stock trading of GRGTEST
Guests of the ceremony jointly witness the listing of GRGTEST
In the speech, Huang Yuezhen expressed his gratitude to the great supports of government supervision departments, Shenzhen Stock Exchange, investors from all walks of life, intermediaries and clients. He said, the listing of GRGTEST marks that the enterprise has entered into the capital market of China, joined a new development platform and opened up the broader development space. It is believed that the company will further improve the governance system, strengthen strategic management, optimize operation and enhance brand value with the help and support of regulatory authorities, sponsor institutions, investors, news media and other social sectors, so as to realize high-quality development. We will give back to the society, shareholders and investors with better performance.
Speech of Huang Yuezhen
Huang Yuezhen signed the stock listing agreement with Shenzhen Stock Exchange on behalf of GRGTEST and presented souvenirs to each other
Guests of the ceremony (from the left: Pan Jianyun, Huang Kaixuan, Luo Jun Fu, Yang Haizhou, Chen Zhiying, Chen Haotian, Huang Yuezhen, Chen Ping and Huang Dunpeng)
As indicated in the public prospectus, the raised funds of GRGTEST will be mainly used for the network expansion of regional testing laboratories, the construction of research institutes and the supplement of current capital. It will focus on aviation and aerospace, satellite navigation, rail transit, new energy vehicles, environmental protection and other strategic emerging industries supported by national "13th Five-Year" Plan and "Made in China 2025" Strategy, so that the existing business scale and comprehensive strength of the company can reach to a new level, and the market position of the company in the inspection and testing service industry can be consolidated and enhanced.
GRGTEST is the internal laboratory of Guangzhou Radio Group, formerly known as Guangzhou Radio Plant (National 750 Factory). Since the company was restructured and established in 2002, the marketization operation has been fully opened. After more than ten years of hard work, reform and innovation, the company has developed from an internal laboratory of a time-honored state-owned enterprise to a well-known third-party measurement and testing institution in the industry. The annual operating income has grown from less than RMB 3 million at the beginning to more than RMB 1.2 billion at present with a constant growth rate of more than 40% for more than 10 years. The company started with 9 employees to more than 4,000. The service scope has also expanded from Guangzhou to the whole country. It has actively fulfilled the mission and responsibility of state-owned enterprises, becoming a successful model of reform and innovation of state-owned inspection and testing institutions.
"As the third A-share listed company independently cultivated by Guangzhou Radio Group, the high-quality development of GRGTEST saw that the Group adhered to the institutional innovation and innovation driven." Yang Meizhou said, "innovation is reflected in many aspects such as system, technology, operation and management regarding to the enterprises, among which the innovation of system and mechanism is the source of endogenous power to promote the development of enterprises. GRGTEST is the product of the market-oriented institutional innovation which starts from restructuring and marketization operation in the early stage, experiencing the reform toward mixed system and the shareholding reform, to the successful listing of A-shares."
Benefiting from institutional innovation, GRG Test achieves the corner overtaking and enters the fast lane of high-quality development. "GRGTEST follows the pace of reform to conduct institutional innovation and resonates with the deepening reform of state-owned enterprises. We hope to provide useful reference for the institutional reform of Guangzhou, Guangdong Province and even the whole country, especially during the current national implementation of inspection and testing certification body reform." He further stated, "it can be expected that Guangzhou Radio Group will continue to incubate and cultivate the fourth, fifth and even more listed companies relying on the existing system and mechanism innovation platform."
"One-stop" + "integration", building the core competitiveness of the enterprises
In 2002, GRGTEST only provided single measurement and calibration services, but now it can qualify such professional technical services as reliability and environmental testing, screening and failure analysis of components, EMC testing, chemical analysis, food testing, environmental testing, products certification, quality management consulting of software life cycle, development of information system for quality inspection industry, consultation and training, and R&D of measurement and control equipment. We have continuously reformed and innovated in more than ten years, exploring a development road with characteristic and building a "one-stop" technical service mode, which greatly optimizes the service experience of customers. Meanwhile, more than 20 measurement and testing bases and more than 50 subsidiary companies have been set up across the country to build a national "integrated" management and control system. GRGTEST has built a bottom line with the clean and self-discipline through strict internal quality control, which has provided customers with fast and thoughtful measurement and testing services, and won the recognition of the market.
"The technical service of 'one-stop' is a professional service mode that we built to keep up with market demand." Huang Dunpeng said. Take the automobile industry as an example, a vehicle contains thousands of components, and all products have customized testing standards and experimental requirements. In the past, suppliers of components have to send samples to different institutions for testing, leading to heavy workload and high cost. However, enterprises can complete chemical analysis, EMC, environmental reliability and other related tests in GRG Test with only one sample delivery under the technical service mode of "one-stop". "GRGTEST helps customers improve R&D efficiency by reducing the time and labor costs in the process of sample delivery, testing and communication, which effectively guaranteed the R&D cycle of products, improved quality of products, so as to help enterprises win the first opportunity in the fierce market competition."
High-end positioning, focusing on national strategic emerging industries
The data indicated that the sales revenue of inspection and testing industry in China was RMB 281.05 billion by the end of 2018, with an annual compound growth rate of 14.98% in the five years, and the market scale continued to expand. With the gradual delegation of the inspection and testing service by the government and the market competition in the industry is increasingly fierce, it proposes high requirements to the technical service ability of enterprises. GRGTEST will aim at the national strategic emerging industries with the help of this listing, continuing to promote innovation of scientific research. It will realize the close combination of technological innovation and the development needs of strategic industries, win market advantages with core technologies, and lead market expansion with professional technologies.
"The reason why we energetically build and improve the technical service capabilities of national strategic key industries such as aerospace, rail transit and vehicle is that these fields are urgent for the country and industrial upgrading." Huang Yuezhen said. Like the "doctor" of product quality of enterprises, GRGTEST can analyze product deficiency and provide solutions for enterprises, can help enterprises carry out process optimization to improve product quality and solve the shortcomings in quality, thus providing a solid and reliable technical support for promoting manufacturing industry of China to move towards the medium- and high-end of the global value chain and enhancing the core competitiveness of the manufacturing industry.
State-owned enterprises, practicing the mission of creating the great power of quality
Technical institutions of measurement and testing are the indispensable technical support for national quality safety and quality technical supervision. In the new era, GRG Test inherits the red gene of Guangzhou Radio Group, adhering to the responsibility of state-owned enterprises to serve the industry and society. It actively participates in the construction of the great power of quality with the technology, and transmits trust to the public, which ensures the high-quality development. We provided technical services of measurement and testing for the equipment of the 70th anniversary of the National Day military parade, domestic large airplane, Beidou satellite and other "national weapons". We also participated in the formulation of a number of testing standards for high-speed railway equipment and new energy vehicles, which have won the unanimous recognition of the government, the industry and the public, winning many honors such as the "Quality Light" annual outstanding technical institution and annual economic enterprise in Guangdong.
"Based on the new starting point of the listing platform, GRGTEST will unswervingly implement the drive strategy of 'industry + capital', give full play to the advantages of financing platform and professional technology, so as to stride forward to achieve a more ambitious goal." Yang Haizhou said, "GRGTEST inherits the revolution gene of Radio Group, always firmly adhering to the leadership of the Party to state-owned enterprise, and taking on the responsibility and mission of the measurement and testing institution in the new era. We keep a foothold in Guangzhou with a layout crossing country and serve the world, actively contributing to the technical support and services for the construction of "Guangdong-Hong Kong-Macao Greater Bay Area", the strategy of "Great Power of Quality" and the "Belt and Road" Initiative. In the future, GRGTEST will continue to promote technological innovation and service innovation, and improve the level and quality of technical services to build a well-known brand in the measurement and testing industry with the power of capital platform. We will lead the measurement and testing industry with leadership, market credibility and international influence, realize the ambition and responsibility of serving the country and becoming a powerful country in industry, so as to ensure the achievement of the dream of great power of quality.
