Neway CNC Equipment (Suzhou) Co, a CNC machine provider, is successfully listed on the science and technology innovation board of the Shanghai Stock Exchange on Sept 17. [Photo/snd.gov.cn]
Neway CNC Equipment (Suzhou) Co, a CNC machine provider, was successfully listed on the science and technology innovation board of the Shanghai Stock Exchange on Sept 17, becoming the 22nd listed company in Suzhou New District.
Trading under the stock code 688697, the company issued 81.67 million shares at 7.55 yuan ($1.17) per share.
The company raised a total of 572 million yuan, which will be mainly used for phase III medium and high-end CNC machine tool industrialization projects, research and development, construction projects, as well as supplementary working capital.
The company focuses on the research and development, production, and sales of high-end CNC machine tools, which are widely applied in the automotive, construction machinery, new energy, and aerospace industries.
Some of their products have been rated as "national key new products" and "the first set of products in Jiangsu province". Renowned for their outstanding techniques, the company's products have been exported to Germany, Russia, the United States, and other countries.
Over the past few years, SND has rolled out a series of financial policies to support SND-based companies in going public.
