CSRC Approves IPO of JD Capital-invested Yongdong Huagong
Having gained approval from the China Securities Regulatory Commission (CSRC) for its Initial Public Offering (IPO) on March 27, Shanxi Yongdong Huagong Co., Ltd. (hereinafter referred to as Yongdong Huagong), a JD Capital-invested company, plans to go public on the Shenzhen Stock Exchange (SZSE).
Yongdong Huagong is a private enterprise in Yuncheng, Shanxi. It focuses on the elaborate processing of coal tar and the R&D of quality carbon black products, and mainly produces processed products from carbon black and coal tar. It is one of China’s top ten carbon black producers in terms of production scale.
Located in south Shanxi, Yongdong Huagong enjoys visible graphical advantages with rich coal resources, convenient transportation and solid infrastructure. The company has long committed to expanding the industrial chain to its full use, and has established a circular economy pattern which allows in-depth development and application of non-renewable resources. Through technological expertise and innovation, Yongdong Huagong has improved development and application of coal tar. It plays an irreplaceable role in the commercialization of technological achievements in coal tar processing and carbon black manufacturing.
Research shows that as the global economy recovers, things are looking good for the carbon black industry. It is expected that China will sell 28.216 billion yuan worth of coal tar by 2018.