The exterior of the main office of Jiangsu Shengnan Electronic Technology Co Ltd. [Photo/WeChat account: gh_306bee9ab06e]
The Beijing Stock Exchange has approved the initial public offering, or IPO of Jiangsu Shengnan Electronic Technology Co Ltd – located in the Taixing High-tech Zone in Taixing city, in East China's Jiangsu province – which will lead to the listing of its shares.
The company plans to publicly issue no more than 20 million shares and raise capital of 200 million yuan ($29.11 million). This will be used to build a plant for intelligent special equipment, to upgrade its research, development and test center and to supplement working capital.
Founded in 2010, the company is a private military high-tech company, integrating scientific R&D, production and marketing. It mainly specializes in aviation secondary power distribution equipment and systems, integrated power supplies, hybrid integrated circuits, power modules and aviation mechatronics products.
By repute, it excels in a series of key technologies and the torque reduction transmission mechanism it has developed enables products to withstand high loads while reducing volumes.
The company will continue to optimize its manufacturing techniques and improve production efficiency – aiming to win a bigger market with good quality and technical content, according to general manager Wu Guoqing.