ZC Rubber launches IPO on Shanghai Stock Exchange

Shanghai, China – ZC Rubber (Zhongce Rubber Group Co., Ltd.) has gone public on the Shanghai Stock Exchange, trading under the stock code 603049.

The Chinese group announced the listing on 7 June, following the issuance of 87.45 million shares at RMB 46.50 each on 5 June.

The offer gave the company an opening market capitalisation of more than RMB 45 billion (€5.5 billion).

“This IPO marks a new chapter in ZC Rubber’s journey,” said chairman and general manager Shen Jinrong.

“It is not only a financial milestone but a strong foundation for our next phase of global development.”

As previously reported by ERJ, ZC Rubber company aims to raise RMB 4.85 billion (€596 million) to support five major expansion projects.

These include a new green 5G digital factory in Chaoyang, capacity expansion in Thailand, and upgrades at its plants in Qingquan, Jiande and Tianjin. (ERJ report)

ZC Rubber reported revenues of RMB 35.1 billion in 2023 and RMB 18.4 billion in the first half of 2024. Net profits reached RMB 2.6 billion last year, and RMB 2.54 billion in H1 2024.

The company operates in over 190 countries and is investing in smart manufacturing and high-end R&D.

Proceeds from the IPO will be used to expand its premium product range, support innovation, and accelerate international growth.