On the morning of the 18th October 2006, while the precious bell was struck by Zhang Rui, the vice mayor of Qingdao people’s government and Yuan Zhongxue, the Board Chairman of Qingdao MESNAC, our company’s stock was listed in middle-small enterprise board of Shenzhen stock exchange and began to transact. Our company is the first private enterprise of Qingdao that was listed in China.
This time, the stock will be issued 18,000,000 A shares. There are two ways to issue: to inquire accumulating bid out of internet and to price the capital acquisition on the internet. Through inquiring accumulating bid out of internet, the fixed issued price was RMB26/share. RMB468, 000,000 was collected. The opening price of our company’s stock was RMB50.5 at the first day to be listed. The transaction was active and looked well.
After the stock issued, Qingdao MESNAC will realize the faster and healthier development through the capital market. The collected capital will be mainly invested on these two projections: the industrialization of Management-Control Network System for Tire Industry and the Digitalization of Tyre Building Equipment. It will enhance our company’s status as a producer of tyre and rubber application software, strengthen the power of reforming equipment, process and management and promote the industry informationization process.