On the morning of June 14, Jiangsu Guomao Reducer Co., Ltd. (stock symbol: 603915) was listed on the main board of the Shanghai Stock Exchange and raised funds of 870 million yuan on the first day of its initial public offering.

Ding Chun, mayor of Changzhou Municipal People’s Government, Cai Jun, deputy secretary of CPC Changzhou Municipal Committee and secretary of the Changzhou Municipal Committee of CPC Commission for Political and Legal Affairs, Cao Jiazhong, member of the Standing Committee of CPC Changzhou Municipal Committee and executive deputy mayor of Changzhou, Li Lin, deputy mayor of Changzhou and secretary of CPC Wujin District Committee, and Xu Guozhong, chairman of Guomao Reducer jointly rang opening bell at the Shanghai Stock Exchange.

In his speech, Ding Chun hopes that Guomao Reducer will aim at the “Top Three in the Global Reducer Industry�? increase R&D investment, accelerate market expansion, improve product quality and strive to become a world-class transmission expert. The CPC Changzhou Municipal Committee and the Municipal Government will make every effort to build a first-class business environment and support the development of enterprises as always.

It is reported that Guomao Reducer, based in Changzhou, has maintained a leading role in the top 500 Chinese private enterprises and domestic reducer industry for more than 20 years.