On August 28th, the Wendeng Municipal Committee and the Municipal Government made an award decision on the successful listing of Tianrun Crankshaft Co., Ltd., rewarding Tianrun Crankshaft Co., Ltd. with RMB 300,000, and awarding the company’s Chairman Xing Yunbo with RMB 100,000. On August 21, Wendeng Tianrun Crankshaft Co., Ltd. was successfully listed and listed on the Shenzhen Stock Exchange. It raised 840 million yuan for the first time and became the first Shandong company to obtain the approval of the China Securities Regulatory Commission since the IPO was restarted this year. According to the provisions of the “Wendon City encourages scientific and technological progress and independent innovation to promote new industrialization development support and incentive measures,†in recognition of the Tianrun crankshaft to revitalize the national industry as its own responsibility, continue to increase investment in technological transformation, vigorously implement technological innovation and expansion upgrades to maintain the company With a good and rapid development trend, the Wendeng Municipal Committee and the municipal government made a commendation decision on Tianrun Crankshaft Co., Ltd. and affirmed its active involvement in the capital market. At the same time, this will encourage other companies to seize the favorable opportunity for the opening of the GEM, accelerate technological upgrading, improve the corporate governance structure, and further accelerate the pace of listing. It is understood that according to the development plan of Tianrun Crankshaft Co., Ltd., four fundraising projects will be invested in the future, including three heavy truck crankshaft production line projects and one light truck crankshaft production line project. These fundraising projects are designed for the company's high-end core customers and will be gradually put into operation within the next year or two. At that time, the company will add 240,000 heavy engine crankshafts and 150,000 light engine crankshafts each year. By 2011, the company will strive to achieve an annual output of 1 million crankshafts and 2 million connecting rods, and the scale of production and sales as well as profitability will double.
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