On October 21st, Henan Tongxin Transmission's selected layer small IPO was completed, raising 110 million yuan.

Among them, 23.75 million shares were allocated online, with a total amount of 93.8125 million yuan, a distribution ratio of 0.62%, and an effective subscription multiple of 162.29 times.

A total of 5 million shares were strategically allocated, with an issuance price of 3.95 yuan per share and a total fundraising of 19.75 million yuan.

It is reported that a total of 10 institutions have received strategic placements, including Jianghai Securities, Shenzhen Kaiyuan Securities Investment Co., Ltd., Shanghai Guantong Investment Co., Ltd., etc.

According to the information, Tongxin Transmission was established in September 2001 and is located in Xuchang City, Henan Province. The company focuses on the research and development, production, and sales of non constant speed transmission shafts and related components. Its main products include non constant speed transmission shaft assemblies and related components. After years of development, the company has the production capacity of various types of transmission shaft products such as trucks, buses, construction machinery, and special vehicles, and has formed 20 product series and over 1800 product specifications, suitable for the installation needs of transmission systems of major domestic and foreign host manufacturers.

According to the issuance prospectus of Tongxin Transmission, the funds raised in this issuance will be used for the "300000 sets of intelligent upgrade and expansion projects for transmission shafts", the "annual production of 2 million new lightweight components for automotive transmission shafts", and the "construction project of intelligent automotive transmission shaft research and development center".

It is worth noting that on September 3rd, the China Securities Regulatory Commission announced at a press conference that the Beijing Stock Exchange would be established based on the selected layer of the New Third Board. After the establishment of the Beijing Stock Exchange, all selected listed companies will be converted to listed companies on the Beijing Stock Exchange.

This also means that if Tongxin Transmission is successfully listed on the selection layer, it will become a listed company on the Beijing Stock Exchange.

Henan Tongxin Transmission Co., Ltd. has its own "Technology Center", focusing on continuous improvement of product quality and innovation of technical processes. With over 40 patented properties, we have pioneered the forging of blank raw materials with "hollow cores and no waste edges" in the industry, and our technology has reached the international priority level. The company relies on production technology, sophisticated equipment, efficient production organization capabilities, strict quality control system, and excellent full-service model; With the quality policy of "pursuing zero defects and satisfying customers", we aim to transform the enterprise into a transmission shaft service platform. Adhering to the business philosophy of "seeking profits from products, not from customers", we aim to achieve win-win cooperation with our customers.

The company's products have covered micro, light, medium, and heavy transmission shafts, as well as transmission shafts for railway locomotives, petroleum machinery, and engineering machinery, totaling over 30 series and more than 3800 types. Concentric Axis is a friend of Dezai. Its products have spread all over the country. It has long-term cooperation with Yutong, Dayun, Shandong Automobile and other large engine manufacturers, and has been exported to the United States, South Korea, Türkiye and other countries.