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Chengdu Zhengheng Power intends to sprint for an IPO listing on the ChiNext Board of the Shenzhen Stock Exchange to raise funds for projects such as automotive aluminum die-casting components
- China Aluminium Network
- Post Time: 2022/11/15
- Click Amount: 1014
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【Aluminum Road Network】
Recently (November 10, 2022), Chengdu Zhengheng Power Co., Ltd. (referred to as "Zhengheng Power") submitted an initial public offering prospectus application draft, and plans to sprint for an IPO on the Shenzhen Stock Exchange's Growth Enterprise Market. It is reported that Zhengheng Power will issue no more than 121 million shares this time, and the total amount of funds to be raised is 487 million yuan, which will be invested in automotive lightweight intelligent manufacturing projects, commercial vehicle engine core components expansion projects, and technology center upgrade projects.
According to the prospectus, the lightweight and intelligent manufacturing project of automobiles invested by Zhengheng Power will be implemented by Chengdu Tonglin Foundry Industry Co., Ltd. (“Tonglin Foundry”), a wholly-owned subsidiary located in Dayi County, Chengdu. The project will make use of Tonglin Foundry's established workshops, introduce aluminum alloy automatic die-casting units, and support software and hardware systems such as auxiliary production equipment and digital information management systems to build an industry-leading intelligent manufacturing production base. After the project is put into production, it is expected that 1.12 million pieces of various aluminum alloy die-casting products will be added annually. Among them, there are 360,000 aluminum alloy cylinder blocks for engines, 260,000 aluminum alloy gearbox casings, 240,000 aluminum electric control box casings for new energy vehicles, and 260,000 aluminum body structural parts for new energy vehicles.
Zhengheng Power said that through the implementation of this project, the company will obtain the industry-leading equipment level, and have the production and manufacturing capabilities of large-scale body structure parts, cover parts and aluminum alloy die-casting parts with high quality requirements such as V6 and V8 aluminum alloy cylinder blocks. Reduce labor costs, improve production efficiency, and further Source:
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