ZC Rubber goes public

Zhongce Rubber Group (ZC Rubber) has officially gone public on the Shanghai Stock Exchange. A total of 87.45 million shares were issued at a price of 46.5 yuan (6.47 dollars), and the company's initial market capitalization exceeded 45 billion yuan (approximately 6.3 billion dollars). 

As noted by the Chairman of the Board and CEO of ZC Rubber, Shen Jinzhong, "the IPO marks the beginning of a new chapter in the history of ZC Rubber. This is not only a financial milestone, but also a solid foundation for our next stage of development".

Thanks to the successful IPO, the company intends to expand its research and development capabilities, increase the range of high-quality tires, accelerate the development of innovative production, and strengthen its position in the global market through strategic foreign investments.

"We remain true to our goal of creating a world-renowned tire manufacturer," emphasized Shen.

ZC Rubber has its history dating back to 1958, when a rubber products plant was opened in Hangzhou. Today, the company is a leader in the Chinese tire industry, with products being supplied to more than 190 countries worldwide. The company offers tires under such brands as Chaoyang, Goodride, Trazano, and Westlake.