Ningbo's Yongli Precision Manufacturing debuts on Beijing Stock Exchange

Representatives from Zhejiang Yongli Precision Manufacturing attend the listing ceremony. [Photo/Yongpai App]

Ningbo's capital market continued to expand on July 9 as Zhejiang Yongli Precision Manufacturing debuted on the Beijing Stock Exchange, bringing the city's total number of listed companies to 156.

Founded in 2001 and headquartered in Ninghai county, Ningbo, Yongli Precision Manufacturing specializes in the research, development, production, and sale of precision steel tubes and tubular components for the automotive industry. The national high-tech enterprise has grown into one of China's leading manufacturers of automotive precision tubing, with its products widely used in chassis, steering, and engine systems.

According to company estimates, its automotive shock absorber tube products account for around 30 percent of China's market for tubes supplied to vehicle manufacturers. As China's new energy vehicle (NEV) industry has expanded rapidly, about half of Yongli Precision Manufacturing's products are now used in NEVs, covering leading domestic NEV manufacturers and their main models.

The company raised about 385.6 million yuan ($56.74 million) through its IPO, with the funds set to support capacity expansion projects for automotive chassis and steering system components, helping meet growing demand for lightweight vehicle technologies.

Yongli Precision Manufacturing's listing reflects Ningbo's accelerating momentum in capital market development. So far this year, five Ningbo companies have either gone public or received listing approval.