On the morning of October 21, Changzhou Aohong Electronics Co., Ltd. went public on the Main Board of Shanghai Stock Exchange (SSE), making it the 68th listed company of Changzhou. Mayor Chen Jinhu attended the bell ringing ceremony at SSE.
Before the ceremony, Chen Jinhu met with SSE’s vice general manager Que Bo. Chen said that going public is the best chance for an enterprise to accelerate its transformation and increase brand awareness, as well as the best proof of a city’s favorable business environment. In recent years, Changzhou has been encouraging local enterprises to go public by continuously facilitating their access to capital markets, such as the issuance of Several Opinions on Promoting the Split-Share Structure Reform and Boosting the Growth of Capital Markets, and the signing of a strategic cooperation memorandum with SSE.
Que Bo stated that SSE will step up its cooperation with Changzhou based on the good foundation laid between both sides. Going forward, SSE will give more support to outstanding Changzhou enterprises ready to go public in terms of IPO training course and policy consultation.
Changzhou Aohong Electronics Co., Ltd. (stock symbol: Aohong Dianzi, 605058), is a professional electronics manufacturer dedicated to this industry over the years. It currently has three wholly-owned subsidiaries respectively in Changzhou, Hong Kong and Singapore, with Changzhou Aohong Electronics Co., Ltd. and Changzhou Haihong Electronics Co., Ltd. as its PCB (printed circuit board) production bases. Having an annual capacity of about 4 million square meters of all kinds of PCB, the company’s products are widely applied to home appliances, consumer electronics, power supply, network and communication, automobile, etc. It has also maintained good cooperation with well-known corporations like Haier, Hisense, and Midea.
As of this update, the total number of Changzhou-based companies which have gone public reached 64. One hundred and seven companies are now listed on the New Third Board. These enterprises have raised over 107.7 billion yuan through capital markets, greatly supporting Changzhou’s progress in achieving high-quality development and the objectives of its Star City Initiative.
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