On 13th December, Zhejiang Fengmao Technology Co., Ltd (stock abbreviation: Fengmao, stock code: 301459), the executive director unit of Ningbo Auto Parts Industry Association, was listed on the GEM Board of Shenzhen Stock Exchange.

The public offering of 20 million new shares, the issue price of 31.90 yuan / share, new shares to raise funds of 638 million yuan, the total share capital of 80 million shares after the issue. Fengmao shares are mainly engaged in the research and development and industrialisation of precision rubber parts.2022 year, the company achieved operating income of 608 million yuan, net profit of 102.2480 million yuan.

At the listing ceremony, Mr Jiang Chunlei, Chairman of Fengmao, delivered a wonderful speech. From the beginning of Fengmao's preparation for listing to today, it has been exactly six years, and under the careful guidance of the Shenzhen Stock Exchange and various intermediaries, the company's team has learnt about compliance, financial norms, disclosure of information, and sustainable development, etc. The whole process is a learning and improving process for the company's team. The company will continue to learn continuously with stricter standards to improve the compliance level of Fengmao. He also said that landing in A-share market is an important milestone in the development process of Fengmao, and it is a new starting point for the company to face the future. The company will make use of the power of the capital market to continuously improve the company's core competitiveness and market share, and realise a better and faster development to return to the shareholders, customers and the society!

At present, there are 51 listed enterprises in the automotive industry in Ningbo. Relying on the development of listed enterprises as well as leading enterprises, Ningbo's automobile and parts industry is expected to achieve further success, continuously expand the influence of the industry, enhance the competitiveness of the industry, and promote the high-quality development of Ningbo's economy!

Introduction of Fengmao

As a leading rubber drive belt company, its products involve transmission systems, fluid piping systems and sealing systems, which are widely used in commercial vehicles, passenger cars, new energy vehicles, as well as photovoltaic energy storage, industrial robots, CNC machine tools and other non-automotive fields.

Fengmao's driveline components have been used by famous domestic and international OEMs such as SAIC-GM, SAIC-DATSU, FAW Group, Geely, Navistar, and other famous domestic and international auto parts brands such as Rui'an, Bosch, LNDISTRIBUTION LLC, Schaeffler, Meile, Michelin, and so on.

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