Chinese automotive parts manufacturer QHT Technology (QHT.US) applies for listing in the US, planning to raise $7 million.

Chinese automotive parts manufacturer Qinhui Technology International submitted its initial public offering application to the U.S. Securities and Exchange Commission on Tuesday. The company, based in Wuhu, China, plans to issue 1.3 million shares of stock at a price of $5 to $6 per share, raising $7 million. Based on the midpoint of the proposed price range, Qinhui Technology's market value will reach $95 million. Qinhui Technology produces and sells components and accessories for passenger cars, trucks, and train carriages in China through its operating subsidiaries. Its notable products include frames for truck liquefied natural gas cylinders. Founded in 2002, Qinhui Technology had revenues of $30 million for the 12 months ending on June 30, 2024. The company plans to list on the Nasdaq under the ticker symbol "QHT" and submitted its application secretly on September 12, 2024. Kingswood Capital Markets is the sole book-running manager for the transaction.