On the morning of January 27th, Ningbo Powerway Alloy Material Co., Ltd. (Powerway Alloy, 601137) was publicly listed in the Shanghai Stock Exchange. This is the second enterprise in Yinzhou district that goes public. Up till now, there are 44 listed companies in Ningbo.

Powerway Alloy specializes in R & D, production and sales of high-performance and high-precision non-ferrous alloys. With years of technological innovation and management optimization, Powerway Alloy’s core business has transformed from the single copper alloy products to new materials and high-end products. Currently, the company has an annual production capacity of 42,000 tons of copper alloy rods and 12,000 tons of copper alloy wires, ranking among the top in the industry. The company produces precision copper alloy rods, high intensity and high conductivity copper alloy rods, and environmentally friendly copper alloy rods. Its products are widely used in electronics and electrics, communications, transportation and other fields.

It is learned that Powerway Alloy plans to issue 55 million shares this time with an offering price of 27 yuan per share. It is to raise 1,485 million yuan with a P/E ratio of 71.05. The fund raised will be used for three projects, namely an easy-to-cut lead-free brass wire and rod production line with an annual output of 10,000 tons, a high-performance and high precision copper alloy board and tape production line with an annual output of 20,000 tons, and a wrought zinc alloy material production line with an annual output of 15,000 tons.