Anhui Wanbang Pharmaceutical Technology Co, a high-tech enterprise based in the Hefei National High-Tech Industry Development Zone – located in Hefei, capital of East China's Anhui province – was listed on the ChiNext board of the Shenzhen Stock Exchange on Sept 25.

With its share flotation, it became Anhui's first Contract Research Organization, or CRO stock.

The company, which provides pharma research and clinical research services, raised more than 1.1 billion yuan ($150 million) in the initial public offering, or IPO.

As a CRO enterprise, it offers specialized pharmaceutical research and development outsourcing services to pharma companies and other research institutions through contract agreements.

The funds raised in the offering will primarily be used for drug research and its pharmacokinetics engineering center project, as well as to supplement the development of its main business operations.

Currently, there are a total of 39 listed companies in the high-tech zone, including nine listed on the ChiNext board.

Moving forwards, plans are for the high-tech zone to continue to promote the listing of high-quality enterprises in the capital market, using it as a catalyst for the real economy.

The aim is for it to continue to improve the core competitiveness of the regional economy and contribute to the construction and development of a world-leading science and technology park.