Cubic Sensor and Instrument Co Ltd is listed on the STAR Market on Feb 9. [Photo/WeChat account of Optics Valley of China]

Cubic Sensor and Instrument Co Ltd was listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR Market, on Feb 9, becoming the first company from Hubei province approved for IPO registration by the China Securities Regulatory Commission in 2021.

The company is based at East Lake High-tech Development Zone (Optics Valley of China) in Wuhan, the capital of Central China's Hubei province. It is the 50th company located in the zone to go public.

Hubei currently has five companies listed on the STAR Market, all of which are based at Optics Valley of China.

Xiong Youhui, president of Cubic Sensor and Instrument, speaks at the launch ceremony on Feb 9. [Photo/WeChat account of Optics Valley of China]

Founded in May 2003, Cubic Sensor and Instrument is a high-tech enterprise specializing in R&D, the production and sale of gas sensors and gas analysis instruments. It now has more than 500 employees, compared with four in 2003.

The company has nearly 100 patents, and its products are exported to more than 80 countries and regions. Its products are widely used in such fields as home appliances, automobiles, medical treatment, environmental protection, industry, energy and measurement.

The 2020 semi-annual report shows that the company's primary businesses are dust sensors, CO2 gas sensors, exhaust gas analysis instruments, oxygen sensors and flue gas analysis instruments.

Its gas sensors are provided to well-known domestic and foreign brands such as Midea, Gree, Haier, Xiaomi, Philips and Daikin.

The company intends to raise 570 million yuan ($88.18 million), which will be mainly used for construction projects involving gas sensors and gas analysis instrument production lines, smart gas sensor R&D bases and more.