The Great Wall Computer Shenzhen Co has raised 364 million yuan (about HK$338.52 million) by issuing A shares in Shenzhen. The personal computer-maker issued 57 million A shares at 6.58 yuan each. It is 64.05 per cent owned by Great Wall Computer Corp, which is among the country's fourth batch of enterprises selected for overseas listing. The parent has appointed BZW Asia as the sponsor for the H-share flotation this year. Great Wall Computer Shenzhen plans to use the proceeds from the sale to finance research and development in hardware and software, in the hope of maintaining its share of China's potentially huge computer market. Last year, Great Wall Computer Shenzhen, the second largest domestic manufacturer, had a 10 per cent share of the 2.1 million personal computers sold in China. Domestic brand computers took up 56 per cent of the market. This year, the company has forecast a 16.5 per cent rise in profit to 72.57 million yuan. Analysts said the company was in an attractive sector. 'As China's second biggest computer-maker after Legend, it has captured a significant share of the market,' one analyst said. 'Its products are well-received by mainland customers.' She said China's demand for personal computers was growing as government bodies and mainland enterprises began to computerise their systems. Another analyst said China's personal computer market had stabilised after the price war last year, but many manufacturers were suffering from lower margins.