Hangzhou advance gearbox IPO approved

According to the website of the China Securities Regulatory Commission, the 96th meeting of the China Securities Regulatory Commission's issuing and approving committee was held on June 23, 2010. Hangzhou Qianjin Gearbox Group Co., Ltd. was first approved.

Hangzhou Advance Gearbox Group Co., Ltd. plans to issue 101 million shares on the Shanghai Stock Exchange, and the total share capital after the issue will be 40,600 shares. The company is a large-scale enterprise specializing in the production of various types of gear transmissions. The main products currently produced and sold are: marine gearboxes and adjustable propellers, construction machinery transmissions and drive cars, automobile transmissions and special vehicle transmissions, industrial gearboxes, wind power Gearboxes, gearboxes for agricultural machinery, friction materials and friction plates, and large precision gears are among the top ten types of products.

The proceeds raised from the issuance will be invested in the following four projects: an annual output of 100 sets of advanced ship propulsion systems and 800 high-precision marine gearbox production capacity expansion projects, an annual output of 12,000 sets of electro-hydraulic control engineering mechanical transmission production capacity expansion projects, and an annual output of 2000 The key projects of wind power growth gear box capacity expansion projects, heavy-duty and special vehicle automatic transmission technology research and development projects, a total investment of 740 million yuan.