Wuxi Autowell Technology Co., Ltd debuted on the National Equities Exchange and Quotations (NEEQ), also known as the New Third Board, a pilot national share transfer system for small and medium-sized enterprises on May 9, according to wnd.gov.cn.
Located in Wuxi National Hi-tech District (Xinwu district), Autowell is a specialist in manufacturing PV series welding machines. In particular, its ultra-low welding fragment rate has achieved recognition of its clients.
Autowell has seen sustainable and rapid development in recent years and has opened up overseas markets in Malaysia and Thailand. In 2015, its operating revenue rose to 480 million yuan ($73.7 million) with retained profits of more than 100 million yuan. The company hopes for a further development boost after listing on the NEEQ.
So far, there are 7,000 companies national wide listed on the NEEQ, with 48 coming from WND, ranking it sixth in hi-tech districts nationwide.
NEEQ helps unlisted companies transfer shares and provides them with services related to financing and acquisitions, which facilitates development of a multi-level capital market.
