Yongjin Stainless Steel Goes Public

At 09:30 am on December 24, 2019, the stainless steel cold rolling giant–Zhejiang Yingjin Metal Technology Co., Ltd. (Yinjin Co., Ltd., 603995) was listed on the Shanghai Stock Exchange, and another stainless steel was added to the A-share motherboard market. Stocks, also the fifth stainless steel manufacturing company in China’s A-share market.

The another 4 companies is TISCO, JIULI，WUJIN, YOXIN. TISCO is mianly for stainlesss coils and plates. JIULI is mainly for stainless steel pipe and fittings. WUJIN is mainly for stainless steel seamless pipe and welded pipe. YOXIN is mainly for smelting, and supply stainless steel bars and billets in the market.

About Yongjin Stainless Steel

yongjin Co., Ltd. was established in August 2003. Its main business is the research and development, production and sales of cold-rolled stainless steel strips. The products cover two major areas: precision cold-rolled stainless steel strips and wide cold-rolled stainless steel strips. With efforts, the company has developed into a well-known professional stainless steel cold-rolled enterprise with an annual output of stainless steel precision cold-rolled plates exceeding 1.2 million tons.

Yingjin Co., Ltd. is China’s national high-tech enterprise and the national torch plan project undertaker. It is one of the few domestic companies that can independently design and develop stainless steel cold-rolled automated production lines.

The complete set of stainless steel cold-rolled automated production lines such as units has reached the international advanced level.

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Outlook

After the listing of Yongjin shares, based on stabilizing the existing cold rolled stainless steel strip market advantages, it will be guided by market demand, and take technological innovation and product development as means to actively promote product innovation, management innovation and technological innovation, and continuously optimize the company.

Product structure, product performance, the existing production process system are continuously increase the company’s product market share, and strengthen the company’s market competitiveness.

It is reported that the funds raised in this issuance will be invested in the “75,000 tons of ultra-thin precision stainless steel sheet and strip project” after deducting the issuance costs. The overall competitive advantage enhances the company’s profitability, consolidates and enhances the company’s position in the industry, and ensures the company’s sustained and rapid development.

At the same time, the company will respond to the national “Belt and Road Initiative” development strategy, seize current development opportunities, actively expand overseas business, carry out overseas strategic layout, and enhance the company’s international competitiveness. The company is committed to developing into a professional stainless steel cold rolling company with global influence and market competitiveness.