CSRC agrees to Haian Rubber's application for IPO registration on the Shenzhen Stock Exchange.

On September 25th, the China Securities Regulatory Commission issued a reply approving the initial public offering of shares by Hai'an Rubber Group Co., Ltd. It is reported that Hai'an Rubber plans to list on the Shenzhen Stock Exchange, with Guotai Haitong as its sponsoring institution, and intends to raise 2.95232 billion yuan. The prospectus shows that Hai'an Rubber's main business includes the research, development, production, and sales of giant all-steel radial tires for construction machinery, as well as the operation and management of mining tires. Giant all-steel radial tires for construction machinery are unique high-end products in the construction machinery tire industry, with huge volume and weight (the largest tire outer diameter exceeds 4 meters, with a maximum weight of nearly 6 tons), demanding working conditions, and long uninterrupted working hours. Therefore, the production technology for all-steel giant tires is difficult, and currently only a few tire manufacturers can achieve large-scale production.