The Dual Pursuit of Dongguan’s Capital Market and Enterprises

This book shows the 30-year development process of Dongguan’s capital market， describes the major events and people that have occurred in it， and uses vivid stories and examples to show the specific history of Dongguan listed companies in the past 30 years， so as to restore and publicise the spirit of Dongguan’s listed companies to stick to their original intentions， be diligent and enterprising， strive for progress， and have the courage to reform， and help Dongguan’s high-quality economic development.

Dongguan is a city of miracles， a city where capital converges. The rise of Dongguan is no coincidence; behind it lies a story of enterprises and capital mutually striving toward shared achievements.

Starting in 1994， Dongguan welcomed its first publicly listed company， Winnerway， marking the city’s initial step into the capital market. As of 2024， Dongguan’s capital market has journeyed through three decades of transformation.

These thirty years saw Dongguan’s unwavering progress and profound changes. The capital market has played an indispensable role in Dongguan’s legendary success， providing essential resources and financial support that nurtured globally renowned companies， contributing to the establishment of modern corporate systems， and developing a contemporary financial structure. This market has promoted joint growth across various economic sectors， propelling Dongguan from an agricultural county to a powerhouse of scientific innovation and manufacturing， a remarkable accomplishment.

Thirty years of dynamic change： from nascent beginnings to maturity. From approval-based issuance to vetted issuance， and finally to a registration-based system; from selling shares in open markets to targeted sales of original shares， Dongguan’s capital market， in step with the country’s development trends， has journeyed from budding to breakthrough， launch to innovation. Along the way， it has matured amid highs and lows.

Thirty years of shining progress： from a spark to a galaxy. From the early years of three major stocks， Winnerway， Dongguan Holdings （formerly Guangdong Fudi）， and Shengyi Technology， to over 80 listed companies domestically and abroad， from a decade with no new listings to approximately 50 in the past ten years， Dongguan has turned resilience and innovation over thirty years into a flourishing galaxy.

Thirty years of growth： from golden seeds to a bountiful harvest. Dongguan has pioneered numerous “firsts” across township enterprises， state-owned enterprise reforms， and joint ventures， even in the absence of precedents to follow. It has provided a model and experience for the nation while nurturing a fertile ground for enterprise development. For Dongguan’s capital market， entering its thirtieth year， the seeds planted across 2，460.1 square kilometers are now reaping the rewards of high-quality development， whether in industry-leading enterprises， “small giant” companies， or national high-tech enterprises.

From the city’s initial bell-ringing event to the “Dongguan Sector” with 83 listed companies， the growth speed and quality of Dongguan’s enterprises are undeniable. The efforts of Dongguan’s government and the Dongguan Listed Companies Association have yielded fruitful results， setting benchmarks and upholding the backbone of “Dongguan Manufacturing.” These successes demonstrate Dongguan’s determination and capacity to reform its capital market， drawing national recognition.

Thirty years of flourishing progress： setting off for continuing success. Three decades of experience confirm that Dongguan’s capital market has not only brought financial and technological gains to its enterprises but has also fueled innovation， promoted industry advancement， and established a pathway for mutual growth and interaction between Dongguan and the world.