After the issuance and examination meeting, for four years, Changjiang materials, the “king of casting material segmentation”, was finally listed on the Shenzhen main board, setting the record for Chongqing shares, which is also very rare in the A-share market.
On December 24, 2021, at the initial public offering (IPO) ceremony held by Changjiang materials in Chongqing stock transfer center, Xiong Ying, chairman of Changjiang materials, lamented to upstream journalists that “it’s not easy.”
four years ago, the most stringent new deal was issued and reviewed
Upstream news reporters learned that Changjiang materials had long been interested in the capital market, increased capital and shares in 2011 and introduced strategic investors.
In December of that year, TIANYAO Jiuding and Tianshu Jiuding of “Jiuding system” took shares, with a total investment of 61.8 million yuan, ranking among the top ten shareholders, but no one would expect to “lie on the gun” in the future. Changjiang materials was listed on the National SME share transfer system (new third board) on July 30, 2015, with code 833138.
On the other hand, in April 2016, Changjiang materials accepted the recommendation of Sealand Securities Co.Ltd(000750) and started the listing guidance, preparing to be listed on the small and medium-sized board of Shenzhen Stock Exchange (merged into the main board of Shenzhen Stock Exchange in 2021), which was accepted by the CSRC in June 2016, and the pre disclosure was updated on November 7, 2017.
On November 14, 2017, the initial application of Changjiang materials passed the issuance and Examination Committee of CSRC.
At that time, it was the most stringent implementation of the new policy of issuance and examination in history. Only 4 of the 6 enterprises that met in the sky passed.
The development and Examination Commission has paid attention to five major issues: the acquisition of Camille’s equity and the transfer of all of it; Technology (including patent litigation): financial accounting; Mining while applying for mining license; Safety accidents.
Finally, Xiong Ying, chairman of Changjiang materials, and other respondents were recognized by the members of the development and examination committee and successfully passed the big test.
finally listed after solving the shareholder problem
The upstream news reporter learned that Changjiang materials was delisted on the new third board on December 20, 2017 due to the issuance and Examination Commission of the CSRC.
After that, Changjiang materials properly handled relevant issues. Just when people thought that Changjiang materials would get the issuance approval, “Jiuding system” was investigated by the CSRC, and the two shareholders of Changjiang materials were TIANYAO Jiuding and Tianshu Jiuding.
As a result, Changjiang materials began a long journey to “Jiuding”.
Finally, in October 2020, Suzhou Kunwu, who has long invested in Changjiang materials, transferred the capital contribution shares of TIANYAO Jiuding and Tianshu Jiuding to Jiaxing Fuhai, and the executive partners of TIANYAO Jiuding and Tianshu Jiuding were also changed to Jiaxing Fuhai. Meanwhile, TIANYAO Jiuding and Tianshu Jiuding were renamed Suzhou TIANYAO and Suzhou Tianshu respectively.
After some twists and turns, on November 12, 2021, Changjiang materials obtained the issuance approval of the CSRC.
However, after Changjiang materials got the issuance approval, it went all the way. Now, it has finally been listed.
The chairman of expressed his commitment to green casting
Industry insiders pointed out that the experience of Changjiang materials can be said to have got up early and caught up with the late set.
It is understood that a Chongqing enterprise that was held at the same time as Changjiang materials in November 2017 but was eventually rejected re applied in 2018 and was successfully listed in 2020.
However, compared with Jordan sports, which held the meeting in 2012, Changjiang materials is lucky for a few enterprises that have been forced to terminate the listing due to the litigation with and sports star Jordan for nine years, and the performance decline after the meeting.
At the site of the listing ceremony held by Chongqing stock transfer center, Xiong Ying, chairman of Changjiang materials, said in an interview with upstream journalists that Changjiang materials will be committed to green casting in the future and will be a listed enterprise that abides by the law, develops and innovates and faces the future.
(upstream News)
