Ningbo Color Masterbatch Co Ltd makes an initial public offering on the Shenzhen Stock Exchange on June 28, becoming the 100th A-share listed company from Ningbo, East China's Zhejiang province. [Photo/cnnb.com.cn]

Ningbo Color Masterbatch Co Ltd made an initial public offering on the Shenzhen Stock Exchange on June 28, becoming the 100th company from Ningbo, East China's Zhejiang province to be listed on A-share markets.

The company is mainly engaged in the R&D, production, and sales of color masterbatch, which is widely used in high-end household appliances, food and beverage packaging, optical film and other fields.

Ningbo has seen a robust growth in the number of A-share listed companies since the debut of the city's first A-share listed company in 1993.

The total number also registered a two-fold increase over 2015, when it stood at 50.

Among the 100 A-share listed companies from Ningbo, 56 were listed on the main board of the Shanghai Stock Exchange, 15 on the main board of the Shenzhen Stock Exchange, 26 on the ChiNext board in Shenzhen, and three on the STAR Market in Shanghai.

Ningbo is now ranked seventh nationwide in terms of number of A-share listed companies, behind Beijing, Shanghai, Shenzhen, Hangzhou, Suzhou, and Guangzhou.

As of June 28, the 100 A-share listed companies from the city saw their total market value surpass 1.2 trillion yuan ($184.6 billion), ranking 14th nationwide.

Official data shows that the net profits of A-share listed companies in Ningbo increased by 30.3 percent to 52.18 billion yuan in 2020, ranking eighth in China.