Shanghai, September 6, 2024 – Lianhua Technology Co., Ltd. (002250), a leading enterprise in China’s chemical industry, announced on September 6 that its subsidiary, Shanghai Bao Feng Mechanical Manufacturing Co., Ltd. (hereinafter referred to as Shanghai Bao Feng), has been approved for a public transfer and listing on the National Equities Exchange and Quotations (NEEQ), commonly known as the New Third Board.
According to the announcement, Shanghai Bao Feng has received a letter of approval from the National Equity Exchange and Quotation System Co., Ltd., which agreed to the public transfer of its shares and the listing on the New Third Board. The trading method will be a unified competitive bidding system.
Shanghai Bao Feng, a key subsidiary of Lianhua Technology, specializes in the design, manufacturing, and sales of machinery and equipment for chemical engineering. The company has been dedicated to providing high-quality products and services for the petrochemical industry, which has earned it a solid reputation in the market.
This approval signifies a significant milestone for Shanghai Bao Feng, as it will now have access to a wider range of investors and financing options. The New Third Board, as a platform for small and medium-sized enterprises, provides a favorable environment for companies like Shanghai Bao Feng to expand their business and enhance their market competitiveness.
The listing on the New Third Board is expected to bring several benefits to Shanghai Bao Feng. Firstly, it will enhance the company’s brand recognition and credibility in the market. Secondly, it will facilitate the company’s access to capital, enabling it to invest in new projects, expand production capacity, and improve its technology and product quality. Lastly, it will promote the company’s corporate governance and transparency, as it will be subject to stricter regulatory requirements.
Lianhua Technology has always been committed to fostering the development of its subsidiaries and supporting them in achieving their full potential. The approval for Shanghai Bao Feng’s listing on the New Third Board is a testament to the company’s strategic vision and dedication to fostering innovation and growth.
The New Third Board, as an important platform for China’s capital market, has played a crucial role in supporting the development of small and medium-sized enterprises. With the continuous improvement of the market environment and regulatory framework, more and more companies like Shanghai Bao Feng are expected to join the New Third Board, contributing to the overall development of China’s economy.
In conclusion, the approval for Shanghai Bao Feng’s listing on the New Third Board is a significant event for both the company and Lianhua Technology. It represents a new chapter in the company’s development, and it will undoubtedly bring about positive changes and opportunities for the company in the future.
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