Warmly congratulate China Zhongji Investment's portfolio company, "Yatong Precision", on its successful listing on the main board of the Shanghai Stock Exchange.
On February 17, 2023, Yantai Yatong Precision Machinery Co., Ltd., a portfolio company of China Zhongji Investment, was officially listed on the main board of the Shanghai Stock Exchange. The stock abbreviation is: Yatong Precision, and the stock code is: 603190. The initial public offering (IPO) consisted of 30 million shares, with an issue price of 29.09 yuan/share. The stock closed at 41.89 yuan/share on its first trading day, a significant increase of 44% compared to the issue price.
Established in 2002, Yatong Precision mainly engages in the research, development, production, sales, and service of auto parts and auxiliary mining transportation equipment. Yatong Precision's auto parts business can provide large-scale stamping and welding parts for both commercial vehicles and passenger vehicles. It possesses independent product synchronous development and manufacturing capabilities, advanced equipment technology, and its products are successfully used by well-known companies in the industry, including China National Heavy Duty Truck Group, SAIC-GM, and Li Auto. In 2010, the company entered the field of whole-vehicle manufacturing of auxiliary mining transportation equipment. Many of its products are domestically pioneering, achieving breakthroughs in the localization of key equipment and reaching internationally advanced levels. Major customers include well-known enterprises such as China Energy Investment Corporation, Jinneng Holding Group, and Shaanxi Coal Group.
In June 2019, China Zhongji Investment resolutely led the Pre-IPO round of financing for Yatong Precision, injecting strong confidence into its listing and witnessing its growth and leaps forward on the path to going public.
The China Zhongji Investment project team stated that Yatong Precision has a stable position and forward-looking layout in the auto parts field, and has demonstrated unwavering dedication and continuous innovative vitality in the field of auxiliary mining transportation equipment. They believe that this successful listing will provide a larger stage for the development of Yatong Precision. They look forward to Yatong Precision continuing to innovate and steadily develop at this new starting point, creating more value for investors and society.
