Hengong precision landing GEM open a new chapter of development

2024-06-28

On July 10, Hengong Precision Equipment Co., LTD. (stock referred to as "Hengong Precision") held a grand listing ceremony in the Shenzhen Stock Exchange, ringing the opening bell at 9:25 am on time, marking the company's successful landing on the GEM, officially debuted in the capital market, stock code "301261".

Handan City Mayor Fan Chenghua, Hebei Provincial Financial Bureau leaders Qiao Zhiqiang, Zhou Bo, Handan City leader Wu Jinliang, Municipal government secretary Niu Pingchang, Cheng 'an County Party secretary Liu Jincang and other leaders at all levels, as well as Hengong Precision founder Wei Benli, Chairman and General manager Wei Zhiyong and Shenzhen Stock Exchange, investment institutions, strategic customers, CEIBA, various intermediary agencies and company staff representatives attended the ceremony to witness the historic moment of Hengong Precision.

The ceremony was officially kicked off with a speech by the mayor of Handan. Fan Chenghua said in his speech that Hengong Precision successfully listed on the Shenzhen Stock Exchange, providing a new model and a new benchmark for Handan enterprises to integrate into the capital market. At the same time, Handan Municipal Party Committee and municipal government will continue to support and serve enterprises. Wei Zhiyong, chairman and general manager of Hengong Precision, and Sun Yi, director of Global investment banking Committee of Citic Securities, also expressed their good wishes for the company's future prospects in their speeches.

The IPO, the company publicly issued 21,972,500 shares, the issue price of 36.9 yuan/share, raising funds of 81,078,71 million yuan, mainly used for "fluid equipment parts manufacturing project", "fluid equipment core parts expansion project", "technology research and development center construction project", supplement working capital and repay interest-bearing liabilities.

In the future, the company will further expand the one-stop service capability of "continuous cast iron + machining" through the introduction of advanced production equipment, continuous development of state-of-the-art technology and expansion of production scale, continue to expand the application field of continuous cast iron, reduce production costs, and then enhance the company's comprehensive market competitiveness and overall profitability, and consolidate the company's industry position. Achieve rapid and sustainable development of the company.