JD Capital-invested Beiken Energy Listed on A-share Market Today
2016-12-08
On December 8, Xinjiang Beiken Energy Engineering Company Limited (002828) invested by a fund under the management of JD Capital was officially listed on the Shenzhen Stock Exchange (SSE).
In 2016, eight JD Capital-invested companies have been or are about to be listed on the A-share market. The companies are Beiken Energy (002828), Fu Sen Mei (002818), Xinjiang Xintai Natural Gas (603393), Dowell (300535), Monarch (002798), DK DAKE International Inc. (300503), RONGTAI Health (has obtained approval for its IPO by the China Securities Regulatory Commission (CSRC)) and Jiangsu Flagchem (has obtained approval for its IPO by the CSRC).
Take solid steps in northwest China and invest in the Belt and Road Initiative
Beiken Energy (002828), one of the largest comprehensive oilfield service providers in China, mainly delivers drilling engineering and technical services and other oilfield technical services that are needed during oil and gas exploration and development. The company offers integrated drilling engineering and technical services including drilling, cementing, drilling liquid, directional drilling, and underbalanced drilling. The company possesses engineering and technical service qualifications for a number of domestic oilfields, and the qualification to be a contractor of overseas petroleum technology service projects. Taking advantage of the rich energy resources of Central Asia, Beiken Energy (002828) has been endeavoring to develop market in Kazakhstan and Iran.
The CPC officially proposed the Belt and Road Initiative during its 18th National Congress and the western region, notably Xinjiang, became a bridgehead for opening-up among regions along the Belt. Besides policy advantages, in 2016, the CSRC also explicitly expressed support for Xinjiang enterprises to go public, creating favorable conditions for regions along the Belt to connect with the capital market.
JD Capital started strategic planning for regions along the Belt and Road as early as in 2011. By now, it has invested over two billion yuan in more than ten projects in Xinjiang, Ningxia, Qinghai and Gansu. In Xinjiang, apart from Beiken Energy (002828), another JD Capital-invested company – Xintai Natural Gas (603393) – also went public in 2016.
Through such investments JD Capital has built close cooperative relations with leading enterprises in various industries in regions along the Belt and Road. With the further implementation of the Belt and Road Initiative, JD Capital will continue to, in cooperation with enterprises along the Belt, engage in resource development in surrounding markets and seize the development opportunities brought by these markets.