Yangtze River Materials successfully listed on the main board of the Shenzhen Stock Exchange today. According to market information, the company’s stock price was quoted at 30.67 yuan per share in the early trading, which was a 19.99% increase from the issue price of 25.56 per share. After the 9:30 continuous bidding, it rose by 36.89% in a straight line. , 44.01%, closing at 36.81 yuan/share in the afternoon.
It is understood that Changjiang Materials is a joint-stock company specializing in the production of coated sand and foundry accessories, and is currently the largest professional manufacturer of coated sand for foundry and waste sand regeneration treatment in China. The funds raised from the IPO will be used for its Chongqing Tongliang, Hubei Shiyan, Jiangsu Changzhou, Hubei Xiantao projects and supplementary liquidity.
In the field of coated sand for foundry, Changjiang Materials is one of the industry leaders in terms of production capacity, market share, and research and development capabilities. The “CCATEK” environmentally friendly coated sand independently developed by the company can reduce ammonia emissions by up to 90% compared with traditional resin coated sand during core making, and is in a leading position in the domestic industry. In the field of recycled sand, the CZS series of casting recycling equipment independently developed by the company has mature technology and has entered the stage of large-scale production and application. It will further improve the construction of three bases along the Yangtze River and enter the North China, Liaodong Peninsula and Shandong Casting Industrial Park. A recycling center for waste foundry sand will be established in the park.
The company stated that it will take this issuance and listing as an opportunity to use the raised funds to further expand production capacity, optimize the industrial layout, and continuously through inheritance and innovation, strive to build the company into a large-scale professional coated sand production supplier and waste (used) sand resource in China. A provider of chemical solutions and develop the company into a green and environmentally friendly casting auxiliary material supplier.