As a leading manufacturer of active pharmaceutical ingredients in China, Jinan-based Shandong Keyuan Pharmaceutical Co was listed on the ChiNext board of the Shenzhen Stock Exchange on April 4, and is the second newly listed company in Jinan after Runhua Property this year.

To date, the total number of listed companies in Jinan has reached 58.

Founded in 2004, Keyuan is a high-tech enterprise that integrates the research and development, production and sales of chemical raw materials and intermediates. It produces a large amount of hypoglycemic, anesthetic and cardiovascular chemical raw materials.

Keyuan's gliclazide raw material medicine is a champion product in Shandong's manufacturing industry. Its market share in China from 2018 to 2020 reached 60 percent, 67 percent and 65 percent, respectively.

Statistics from IBM's IMS Database show that in 2020, Keyuan's sales of gliclazide accounted for 36 percent of the global consumption of similar APIs and its ropivacaine hydrochloride accounted for 25.41 percent.

From 2019 to 2021, the company's main business income totaled 310 million yuan ($45.06 million), 366 million yuan and 420 million yuan, respectively, and the net profit attributable to shareholders of the parent company reached 30.15 million yuan, 68.65 million yuan and 78.17 million yuan.

The growth rate of listed companies in Jinan has continued to surge for three consecutive years, and in September 2022, Jinan issued an action plan to promote enterprises to go public. It proposed that by the end of 2026, the city will add 50 listed companies and the total number is expected to exceed 100.

At present, Jinan has more than 400 backup enterprises to be listed.