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Zhejiang Huasheng Technology Co goes public on the main board of the Shanghai Stock Exchange on April 30. [Photo/cnjxol.com]

Founded in 1996, Zhejiang Huasheng Technology Co is a high-tech company engaged in the R&D, production, and marketing of plastic composites. Its main products include airtight materials and PVC flexible materials, which are used for paddles, inflatable boats, roofings, as well as advertising cloth.

The company has a provincial-level high-tech company R&D center. It has consistently introduced advanced technologies and production equipment to improve their products and manufacturing.

Currently, Huasheng Tech has traded with clients in dozens of countries and regions, with the company's financial reports showing that from 2018 to 2020, its retained profits totaled 67.65 million yuan, 86.58 million yuan, and 108 million yuan respectively.

The company went public on the main board of the Shanghai Stock Exchange on April 30, the first company in the city to be listed this year.

The initial offering price for Huasheng, stock code 605180, stood at 22.38 yuan ($3.45) per share, and the company raised 560 million yuan on its first day of trading, which will be used for projects involving wiredrawing base cloth, advanced composite materials, as well as the establishment of a research and development (R&D) center.