Company to watch: china boqi environmental solutions technology / china
Based in Beijing, one of the world’s most polluted cities, China Boqi Environmental Solutions Technology has plenty of work to do. “Environmental protection is a big task as the Chinese economy grows,” says the company’s 32-year-old CEO, Bai Yunfeng. “The government is set to require stricter measures. It will be a big business opportunity for China Boqi,” he says.
The engineering company, which is officially registered in the Cayman Islands, made its debut on August 8 on the Tokyo Stock Exchange, becoming the first mainland China-based company to go public on the Tokyo bourse’s first section. China Boqi’s stock soared 61% in its first day of trading. Daiwa Securities SMBC was the lead underwriter of the offering.
China Boqi makes equipment to remove nitrogen oxide and sulfur oxide in emissions from large coal-fired power plants in China. Bai says the company also intends to move into carbon emissions trading, garbage removal and seawater desalination.
Only 25 foreign companies are listed on the Tokyo exchange, down from a peak of 127 in 1991. The exchange wants more Chinese companies to list to boost its position as a core bourse in Asia. China Boqi is hoping to increase its technological cooperation with Japanese firms.