Grandway Advised Zhongrui Electronic on ChiNext IPO Project Approved by SZSE

On December 16, 2022, Changzhou Wujin Zhongrui Electronic Technology Co., Ltd. (“Zhongrui Electronic”) was approved by Listing Committee of SZSE ChiNext in 2022 at its 86th deliberation meeting for initial public offering of shares and listing on ChiNext.

Zhongrui Electronic is a leading enterprise with R&D, manufacture and sell of precision safety structural components for cylindrical lithium batteries in China. Its main products include lithium battery combination cap series of power type and capacity type. With several years of unremitting efforts and accumulation in the field of cylindrical lithium batteries, Zhongrui Electronic has outstanding technical R&D strength, and has formed a large production and sales scale, and occupies a leading market position. The proposed initial public offering will raise RMB 894,606,400, which will be used for the precision structural parts project of power lithium battery and the construction project of R&D center to further consolidate the leading position in the market and enhance the competitiveness of the product.