Jiangsu General Science & Technology Co., Ltd. starts to raisecapital
After Jiangsu General Science & Technology Co., Ltd. (JGST) succeeded in obtaining the IPO’s approval from CSRC (China Securities Regulatory Commission) on August 19, it started to raise capital by floating shares from August 26. Upon issuance of shares, JGST will be listed at the Shanghai Stock Exchange. According to the prospectus, JGST’s planned public issuance this time will be no more than 174.919085 million shares, and with no involvement of transfer of old stocks. The raised fund shall be used for investment in the second-stage engineering project of All-steel and the construction project of the Research Center on Tire Technology. The implementation of these projects will be conducive to raising the company’s independent research ability, enlarging industrial scale to a further extent, improving the balanced layout of product line and enhancing the company’s market position and competitiveness. JGST has already made investment via raising fund on its own in an attempt to enable the investment projects to have return of investment as early as possible.
According to related materials, the main business operations of JGST include the development, production and sale of all-steel radial tire and oblique tire which are also JGST’s main products and have come into wide use in trucks and engineering machines, etc. JGST boasts a great many brands, such as the Swift Horse, Red Hare Horse, Qima, Xidatong and Tongyun. JGST’s marketing network for domestic sale extends to cover roughly 30 provinces, autonomous regions and municipalities across China and the company has developed more than 100 image stores and over 7,900 brand shops countrywide. At the same time, JGST’s products have been exported to the US, New Zealand, Pakistan, India, Malaysia, Thailand and other countries.
Laying great stress on raising its research and innovation ability, JGST has established the Research Center on Technology for the All-steel Truck Radical Tire Engineering in Jiangsu and the laboratory approved by the State. It has also undertaken the Torch Program and other projects of the State and Jiangsu and boasts 173 patents. Besides, JGST is the first Chinese manufacturing enterprise that engages in the production of all-steel radial tires that employ two different production technologies that are characterized by the zero belt layer structure and the four-layered belt layer structure simultaneously. The technical performance of some products has come to the world’s advanced level. According to the different market needs for tires, JGST takes the lead in developing the short-distance industrial and mining tire that meets the special needs during mine transport and it has played a leading role in China’s subdivided markets. In the meantime, balanced development of multiple types and series of tires targeted at long and medium distance road transportation and tires for short and medium distance has diversified its production line and met the needs of customers.