Hengbo Holding Co Ltd located in Taizhou Bay New Area, East China's Zhejiang province. [Photo/WeChat account: tzfb001]

Hengbo Holding Co Ltd made its initial public offering on the ChiNext board of the Shenzhen Stock Exchange on June 16, becoming the 73rd listed company in Taizhou, East China's Zhejiang province.

Hengbo raised 923 million yuan ($129.17 million) after issuing 25.88 million shares, each priced at 35.66 yuan. The investment will be utilized to expand its production capacity, strengthen R&D capabilities, and supplement working capital.

Hengbo, located in Taizhou Bay New Area, is a high-tech enterprise specializing in the research and development, production and sales of air intake systems for automobiles, motorcycles, general machinery and other industries.

It is the core supplier for many well-known international brands such as GAC, Geely, Honda, Suzuki, and Yamaha, among others, and has been designated as a national "little giant" enterprise, which refers to an outstanding high-tech small and medium-sized enterprise with high growth potential, advanced technology, and strong market competitiveness.

Hengbo's successful listing has brought the number of listed companies in Taizhou to 73, making it the city with the fourth highest number of A-share listed companies among prefecture-level cities in China.