At 9:30 a.m. Sep. 9th 2016, Triangle Tire (601163) shares were listed on Shanghai Stock Exchange, which indicates the fact that with rapid development, Triangle Tire enters A-share capital market and achieves the integration of business and capital successfully.
More than 300 people from all walks of life witnessed the historic moment, including Zhang Hui, Deputy Secretary of the CPC Committee and Mayor of Weihai city, Lu Wendao, Chief Counsel of Shanghai Stock Exchange, Li Yongwu, the former Deputy Minister of the Ministry of Chemical Industry and the former president of China Petroleum and Chemical Industry Federation (CPCIF), Deng Yali, President of China Rubber Industry Association and Li Sha, Member of the Party Leadership Group and Deputy Director of Shandong Economic and Information Technology Commission, and the strategic partners of Triangle Tire Co. Ltd. all over the world.
Mr. Ding Yuhua, Chairman of the board and Secretary of the CPC Committee of Triangle Group delivered a speech first. He expressed his sincere gratitude to all the leaders, investors, partners both at home and abroad, and fellow countrymen in Shandong province for their kind care and support to Triangle Group all the time. He said that it is a refreshing start for Triangle Tire Co. Ltd. to get access to A-share capital market. From now on, aiming at Bring Progress to Society and Create Civilization for Mankind, Triangle Group will grasp the development opportunity provided by the capital market, pursue the path of global branding, and implement global human resource strategies, scientific & technological innovation strategies, and global marketing & service strategies unswervingly. Triangle Group will improve product quality further, and fulfill its economic duty, environmental duty, and social duty seriously. Triangle Group will create more and more value for society, create more and more wealth for shareholders and make more and more contributions to the development of world economy.
Mr. Wang Lianzhi, President of Essence Securities Co. Ltd., and Ms. Zhang Hui, Deputy Secretary of the CPC committee and Mayor of Weihai city, also delivered speeches at the ceremony.
Mr. Wang Lianzhi expressed his congratulations to Triangle Tire Co. Ltd. for its IPO & A-share listed in Shanghai Stock Exchange and his gratitude to Shanghai Stock Exchange for its technical guidance and support. He said that it is the fact that Triangle Tire Co. Ltd. has made brilliant achievements in the past 40 years which fully represents its spirits of dedicating, perfecting and endeavoring and makes its successful access to A-share capital market today. It is believed that Triangle Group will seize the opportunity of its IPO to enhance its capacity for independent innovation and sustainable development with the aid of the capital market, so that it can reward its investors and society with much more prosperous achievements.
Ms Zhang Hui, on behalf of Weihai municipal government and the citizens of Weihai city, expressed gratitude to Triangle Group, the investors and the customers, Shanghai Stock Exchange, and the intermediary organization, etc., for their great support all the time. She said that Triangle Tire Co. Ltd. has won the recognition from both its consumers and capital markets with its practical actions, and set a good example for the companies in Weihai city which are on the way to go public. It is hoped that Triangle Tire Co. Ltd will continue to take the road of specialization, branding and globalization. From the new start point of going public, it will reward its investors, capital markets and society with its rapid growth on its way to be a worldwide leading tire enterprise.
At the ceremony, the Agreement of Triangle Tire Going Public in the Shanghai Stock Exchange was signed. And at 9:30, Zhang Hui, Li Yongwu, Li Sha, and Ding Yuhua beat the gong together, announcing officially that Triangle Tire Co. Ltd. was to be the 1127th A-share listed company on Shanghai Stock Exchange. It goes without doubt that this is a new milestone in the history of Triangle Group.
It is reported that 200 million shares of Triangle Tire Co. Ltd. are issued at ¥ 22.07 per share and ¥ 4.414 billion are collected in total. After the deduction of issue expenses, the fund collected will be invested into a 2-million-annual-output Relocation and Upgrade Project for high-performance intelligent all-steel radial truck tires and a Transformation Upgrade Project for 8 million high-performance passenger car tires in Nanhai New Zone of Weihai city.
When the stock market opened on Sept. 9th, the listed A-shares of Triangle Tire Co. Ltd. rised by 44% to ¥ 31.78 in an instant, which shows the confidence of the capital market in Triangle Tire Co. Ltd. sufficiently.
Triangle Tire Co. Ltd., the Chinese tire industry leader, was founded in 2001. Its business scope includes high-performance commercial vehicle tires, passenger car tires, TBR and OTR tires, etc.. With the guidance of brand management, Triangle Tire Co. Ltd. has sped up its restructuring & upgrading, and built up a worldwide marketing system in recent years. Nowadays it has become a model for Chinese brands to the outside world.
Ceremony of Triangle Tire Co. Ltd. IPO & A-share Listed in Shanghai Stock Exchange
Ding Yuhua, Chairman of Board, Is Delivering a Speech.
Wang Lianzhi, President of Essence Securities, Is Delivering a Speech.
Zhang Hui, Deputy Secretary of the CPC Committee and Mayor of Weihai City, Is Delivering a Speech.
Triangle Tire Co. Ltd. and Shanghai Stock Exchange Are Signing the Listing Agreement.
Triangle Tire Co. Ltd. and Shanghai Stock Exchange Are Presenting Souvenirs to Each Other.
The Official Announcement of Triangle Tire Shares Listed in Shanghai Stock Exchange
Triangle Tire Shares rose 44 Percent to ¥ 31.78 at the moment that they were listed in Shanghai Stock Exchange.
Guests at the Ceremony