XCC is expected to become the 8th listed company in Xinchang

Resource from: CBCC Likes:348

Apr 29,2016

On the evening of April 27, the official site of China Securities Regulatory Commission announced that Zhejiang XCC Group Co.,LTD.’s starting application was approved. It means that the company is expected to become the 8th listed company in Xinchang As a group enterprise, Zhejiang XCC Group Co.,LTD., focused on bearing industry, gets involved in auto parts. The main business includes the development, production and sales of bearing rings and the finished bearings. Their bearing rings are mainly supplied to global leading bearing manufacturers, such as SKF, Schaeffler, NSK, NTN, and JTEKT etc. The company's main finished bearings, mainly including precision auto bearings, precision motor bearings, precision CNC machine tool bearings, high-speed precision textile machinery bearings, shaft bearing, robot harmonic reducer flexible bearings, are used to supporting domestic and foreign cars, electrical motors, mechanical equipment and other industries . According to prospectus, Zhejiang XCC Group Co.,LTD. Is to issue 50.60 million shares with the total issued share capital of 202.40 million shares. The raised funds will be used for the development of company’s four bearing projects.

(CBCC)

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