On June 14, China Securities Regulatory Commission (CSRC) predisclosed the IPO prospectus of Ningbo TIP Rubber Technology Co., Ltd.

TIP will issue 33.52 million shares and raise RMB 724.31 Million Yuan for the construction project of medium and high pressure hose production base, construction project of automobile lightweight pipe fittings innovation capacity and construction project of assembly production line. Two major subjects of project implementation respectively are Ningbo TIP Fluid Technology Co., Ltd. and TIP Investment Management (Shanghai) Co., Ltd., which are wholly-owned subsidiaries. The total investment amount of TIP Fluid’s project is RMB 468.58 Million Yuan, aiming at expanding production capacity, further optimizing product structure and increasing market share. The total investment of TIP Investment’s project is RMB 255.74 Million Yuan, which will further enhance the R&D and technological advantages and provide a strong guarantee for sustainable operation and rapid development.