1st domestic database firm listed on SSE STAR Market

The bell-ringing ceremony is held for the listing of Wuhan Dameng Database Co. [Photo/WeChat account of Optics Valley of China]

On June 12, Wuhan Dameng Database Co was listed on the STAR Market of the Shanghai Stock Exchange (SSE). Its IPO issue price was 86.96 yuan ($12.26) per share, and the stock surged over 200 percent at the opening, with its market value at one point exceeding 21 billion yuan. It is China's first publicly listed company in the database field.

The East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) thus became the only high-tech zone in the country to incubate leading enterprises in both domestic operating systems and databases.

Founded in 2000 in OVC, Dameng Database is a foundational software company focused on the R&D and sale of databases and related products. The company provides a variety of database software, cluster software, cloud computing, big data products, and related technical services to large and medium-sized companies, enterprises, institutions, and government agencies.

In the first quarter of 2024, Dameng Database reported revenue of 166 million yuan and a net profit of 54.36 million yuan. The revenue for the first half of 2024 is expected to be between 317 million and 340 million yuan.

Feng Yucai, founder and chairman of Dameng Database, and Yan Mi, director of the Local Financial Regulatory Bureau of Hubei Province, along with other leaders, jointly attended the bell-ringing ceremony for the company's listing.

The valley is the core area for Hubei's software industry, hosting over 1,000 software companies. It has strong capabilities in foundational software, industrial software, embedded software, geospatial information, and internet+, creating a unique optoelectronic information industrial cluster.

OVC currently has 10 companies listed on the SSE STAR Market, with a total of 65 listed companies.