Two Enterprises of Ningbo Get Approval to Go Public

On Jan.6th, China Securities Regulatory Commission (CSRC) approved applications from 14 enterprises after legal procedures. Among the 14 enterprises are two Ningbo-based ones, namely, Zhenhai Petrochemical Engineering Co., Ltd and Qijing Machinery Co., Ltd. Both of them will be listed on Shanghai Stock Exchange (SSE) according to approval documents. Zhenhai Petrochemical Engineering Co., Ltd was founded in 1994. Its forerunner was Zhenhai Refining & Chemical Company, the wholly-owned subsidiary of Zhenhai Refining & Chemical Engineering Co., Ltd.

In 2005, Zhenhai Petrochemical Engineering Co., Ltd was established and on Dec.28th, 2009, all the related enterprises were integrated into Zhenhai Petrochemical Engineering Co., Ltd, which specializes in the development and technical services of petrochemical engineering. It is known that the business scope of Zhenhai Petrochemical Engineering Co., Ltd includes general contracting of projects, engineering design, project management and supervision, engineering consulting, project appraisal, engineering bidding agent, engineering surveying, petrochemical products, electromechanical equipment,wholesale and retailof metallic materials, technical services, technology development and self-owned house lease. It also runs, on behalf of itself or other companies, the import and export of various goods and technologies except those nationally-banned ones. The very company participated into the whole process of many domestic key projects, such as the first-phase Zhenhai Oil Refining Project, Grand Chemical Fertilizer Project, the second-phase Oil Refining Project and Seven-million-tons Oil Refining Project. Qijing Machinery Co., Ltd may be strange to you, but it is renowned in the machinery industry. Founded on Nov.29th, 1996, the company is headquartered in Ninghai whose legal representative is Wang Yongqi.

Its business scope includes transmission-free parts, clutch and parts, electric tool parts, machinery parts, forge pieces, plastic parts, hardware tools, kitchen appliances parts, auto parts, manufacturing of motorcycle parts, large precision mould and auto mould design and manufacturing, metallic material heat treatment (not including electroplating), wholesale and retail of metallic materials. It also runs, on behalf of itself or other companies, the import and export of various goods and technologies except those nationally-banned ones. The two enterprises' being listed enlarges the group of Ningbo-based enterprises in the securities market.

By Nov. 30th, 2016, there had been 55 A-share enterprises administered by Ningbo Securities Regulatory Bureau ,among which 31 had been listed in SSE while 24 in Shenzhen Stock exchange.

LINK:	http://en.nbwh.gov.cn/art/2017/1/9/art_1325_91987.html...
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