Jiangsu Shengnan Electronic Technology Co Ltd – located in the Taixing High-tech Zone in Taixing city, administered by Taizhou, in East China's Jiangsu province – was listed on the Beijing Stock Exchange on May 18, in a stock offering worth 168 million yuan ($23.76 million).
The company said the capital would be used to expand production of intelligent special equipment, upgrade research and development at a test center, as well as boost its liquidity.
The stock market newcomer manufactures and distributes aviation equipment. It produces aviation deceleration controllers, aviation dampers, military power supplies and more.
After its flotation, the company became the first on A-share board to have aviation machinery and power supplies as its main businesses.
The company specializes in the R&D, production and sales of aviation equipment manufacturing and military power, which have met the necessary qualifications to produce military products.
Its revenue last year hit 139 million yuan, an increase of 25.23 percent year-on year.
To date, there are 27 listed companies in Taizhou, with three listed on the Beijing Stock Exchange.