Topscomm thriving in biz district

Established in 2008, Qingdao Topscomm Communication Co Ltd, a company operating in Qingdao's Shinan district, has grown into a corporate star with a revenue of 990 million yuan ($146 million) last year.

Listed on the Shanghai stock exchange on October 11, it raised 608 million yuan through its initial public offering.

The company focuses on the research and development of power line carrier communication chips and fieldbus communication chips, as well as the application and promotion of smart grids and related products. It is also engaged in the development of fire control systems, and spread-spectrum communications.

As a startup, it only had eight employees in 2008. Now it has more than 2,500 employees, including a 600-member R&D team, 16 doctorate students and three post-doctorates.

As a technology firm, it has paid a great deal of attention to R&D. The company thus far owns more than 120 intellectual property rights.

Wang Ping, assistant general manager at Topscomm, said strong support from the local government has played a significant role in the company's rapid growth.

"I still remember that the director of Shinan's technology bureau came to visit us three days after he took his position and told us that his job is to provide services to technology companies."

Wang said the director didn't only appear humble, but indeed helped the company in many ways.

"He launched new incentive policies based on demands from the technology companies he visited one by one, and he personally helped us to look for industrial experts to solve our technology problems," Wang said.

Recently, Shinan has renewed its policy to encourage companies to go public, which offers a subsidy of up to 5 million yuan for each company which launches an IPO in the stock markets in China and overseas. For each company listed on China's New Third Board, Shinan will offer 500,000 yuan in subsidy.

Wang said her company is planning to attract more high-end talents from across the globe, enhance market management and expansion, and has set a goal of reaching 3 billion yuan in revenue by 2018.

xiechuanjiao@chinadaily.com.cn

(China Daily 10/28/2016 page24)