[vc_row][vc_column][vc_column_text]WI Harper Group | September 2, 2020[/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column][vc_single_image source=”external_link” external_img_size=”400×200″ alignment=”center” custom_src=”https://wiharper.com/wp-content/uploads/2020/03/1577933671532565.jpg”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text css=”.vc_custom_1599093936672{background-color: #e4e4e4 !important;}”]
September 2, 2020,WI Harper Group-backed Beijing LabTech Instruments Co., Ltd. (LabTech, 688056), has successfully landed on the SSE Star market (Science and Technology Innovation Board of the Shanghai Stock Exchange).
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]LabTech priced its IPO at RMB24.8 per share. When the market opened, the stock price increased 154% to RMB63.1, bringing the total market value of the company to over RMB4 billion (US$584 million). WI Harper is the earliest and only institutional investor in the company. Sean Peng (Senior Partner), Changyong Xia (Senior Partner), and Earl Yu (Vice President) from WI Harper Group were invited and had the honor of witnessing the bell ringing ceremony and later attended the appreciation gala dinner.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image source=”external_link” external_img_size=”500×250″ alignment=”center” custom_src=”https://wiharper.com/wp-content/uploads/2020/09/Picture-Labtech-IPO.png”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
Established in 2002 and headquartered in Beijing, LabTechis a global technology company that supplies laboratorial products and solutions to all analytical laboratories covering environmental quality, food safety, pharmaceutical research, disease control, and material analysis. Incorporated with international and domestic branches, LabTech is organized by functions of R&D, production, sales and service. Major products include (i) organic and inorganic sample preparation systems, (ii) laboratory cooling, heating and temperature control equipment, (iii) analytical instruments, (iv) laboratory information management systems, and (v) laboratory design and engineering.
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LabTech is committed to “providing laboratory users all over the world with the most cost-effective products, highest quality services, and becoming a global leader in the industry, bringing world-class products to improve people’s quality of life and safety”.
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“This successful launch in the capital market is a historic leap in the company’s development. In the future, we will continue to pursue our vision and further strengthen our position in markets such as sample preparation and analytical instruments, make our products multifunctional, and develop intelligent solutions to automate the whole process of lab analysis and testing. We aim to become a world-class analytical instrument company that can provide intelligent automation for analytical testing laboratories.” – commented Hu Ke, Chairman and General Manager of LabTech.
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The field of analytical laboratory instruments is a vertical market segment that has not traditionally attracted many investors due to its complex industry requirements, narrow specialization and challenges for commercialization. However, this industry application is one of the mainfoundationsfor all scientific research, cutting-edge technology experiments and R&D, and therefore plays a vital role in advancing technological progress. In 2012, the WI Harper team was able to recognize the intrinsic value of LabTech’s outstanding technology and the future potential of the market, and backed the LabTech team, thus becoming the earliest and only institutional investor in the company.
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Since then, the WI Harper team has worked closely with LabTech providing guidance and support to ensure the health and growth of the company. WI Harper has been backing innovation for 30 years and has witnessed the rise and fall of markets and many industries. A key characteristic that defines the firm is its long-term vision and value add investment mentality. WI Harper’s practice is to focus, without swaying from one hot trend to the next, and steadily tap into future potentials of each technology and application to create real value and impact.
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Sean Peng, WI Harper Senior Partner, commented: “After years of hard work and continuous investment, LabTech has become a leader in the field of analytical laboratory instruments. The industry has a complex and sophisticated technical system, its R&D and manufacturing also rely on the development of a large number of cutting-edge technologies. This is one of the important indicators to measure a country’s high-end manufacturing capabilities. As an early investor in LabTech, WI Harper Group is very happy to accompany and witness the milestones of the company along the way. We truly believe the company will use the power of the capital market to continue to lead the development of the industry and contribute to enhancing China’s competitiveness in high-end manufacturing.”
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| About WI Harper Group:
WI Harper is a pioneer and leading cross-border venture capital firm investing in early and expansion stage companies globally. With offices in San Francisco, Beijing, and Taipei, the firm actively oversees more than $1 billion in assets under management. Since inception nearly three decades ago, WI Harper has invested in over 400 startups and has successfully experienced more than 100 IPO and M&A exits.
We look for innovative companies and visionary founders in healthcare, technology and sustainability fields where there are high synergies and meaningful value added cross selling opportunities. While our healthcare team is presently honing on bioinformatics and digital biology, our technology team is focused blockchain, big data, analytics, artificial intelligence, AR/VR, IoT, robotics, drones, autonomous driving, as well as digital media and green energy projects.[/vc_column_text][/vc_column][/vc_row]
