Shenyang Hongyuan Electromagnetic Wire Co., Ltd. Lists on the Beijing Stock Exchange
2025-08-22
On August 20, Shenyang Hongyuan Electromagnetic Wire Co., Ltd. (hereinafter referred to as “Hongyuan Shares”) was listed on the Beijing Stock Exchange, becoming the first company in Liaoning Province to complete an IPO since the release of the “New National Nine Measures” in 2024. The listing ceremony was attended by Lv Zhicheng, Deputy Secretary of the Shenyang Municipal Party Committee and Mayor of Shenyang; Guan Yan, Deputy Secretary-General of the Liaoning Provincial Government; and Zhan Wei, Deputy Director of the Liaoning Provincial Local Financial Administration.
Founded in 2000, Hongyuan Shares integrates the design, development, manufacturing, and sales of electromagnetic wires for power transformer windings. The company is a pioneer in China’s ultra- and extra-high-voltage transformer electromagnetic wire market and holds a leading market position in this segment. In its IPO, Hongyuan Shares issued 30.68 million shares at an offering price of RMB 9.17 per share, resulting in total proceeds of RMB 281 million. These funds will be allocated to projects including the construction of a production base for core components of photovoltaic mounting systems, the development of a research and development center, and initiatives for intelligent transformation and expansion.
As a key pre-IPO company being cultivated by our province, Hongyuan Shares, under the guidance and support of the Provincial Local Financial Regulatory Bureau, submitted its IPO application to the Beijing Stock Exchange in June 2024, which was subsequently accepted. In April 2025, the company successfully passed the review of the Beijing Stock Exchange’s Listing Committee, with the time from application acceptance to committee approval being shorter than the average for the exchange.
Since the beginning of this year, the Provincial Local Financial Administration has vigorously implemented the Capital Market Enhancement Initiative, focusing on the development of four trillion-yuan-level industrial bases and 22 key industrial clusters. It has actively carried out tiered cultivation of pre-IPO companies, striving to establish a well-structured, step-by-step nurturing framework. The administration has conducted in-depth identification and selection of specialized, sophisticated, and novel “little giant” enterprises, single-product champions, unicorns, and other technology-driven firms, and worked to include them in the provincial pre-IPO enterprise pool for targeted support. It has organized IPO policy training sessions, visits to stock exchanges, and tours of listed companies to help enterprises enhance their understanding of the capital markets. Through on-site visits and symposiums, it has closely monitored the listing progress of 16 key enterprises, proactively coordinated to resolve listing-related challenges, and accelerated the pace of corporate listings. Additionally, it has convened 13 securities firms that serve as underwriters or are currently reviewing applications to host exchange-and-promotion events aimed at advancing corporate listings, thereby strengthening the sense of responsibility among underwriting institutions and improving the quality of companies’ filing materials. Furthermore, the administration has successfully hosted the high-quality “Venture Capital Liaoning” Development Conference and guided the Liaoning Venture Capital Home in organizing outreach activities in prefecture-level cities, fostering a vibrant equity-financing environment. By leveraging investment to empower startups, it has enhanced their ability to operate in a standardized manner, thus solidifying the foundation for future listings. To date, the province has six companies undergoing review, ranking 10th nationwide, and 84 listed companies, placing it 14th nationally.
Moving forward, the Provincial Local Financial Regulatory Bureau will earnestly implement the relevant directives of the Provincial Party Committee and the Provincial Government on promoting the development of the capital market, strengthen inter-agency collaboration and coordination between provincial and municipal authorities, identify and nurture more hard-tech enterprises, closely monitor the progress of key companies seeking IPOs, adopt a multi-pronged approach to accelerate the listing process, and encourage more Liaoning-based enterprises to leverage the capital market for growth and expansion, thereby contributing to the building of a modern industrial system in Liaoning.
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