Xu Weiming, chairman of Zhangjiagang Guangda Special Material Co donates 1 million yuan on behalf of the company on Feb 11 to help fight against the novel coronavirus pneumonia outbreak. [Photo/WeChat account: zjgcitynews]

Zhangjiagang Guangda Special Material Co donated 1 million yuan ($143,600) on Feb 11 to help Zhangjiagang fight the novel coronavirus pneumonia (NCP) outbreak.

The announcement was made during a launch ceremony of the company's initial public offering (IPO) on the Sci-Tech Innovation Board, also known as the STAR Market, a part of the Shanghai Stock Exchange.

Xu Weiming, the company's chairman, also donated 150,000 yuan in his own name, while staff members at the Zhangjiagang headquarters collectively donated 147,100 yuan.

The company, founded in 2003, focuses on the research, development, manufacturing and sales of high-end alloy materials. It has been granted 46 patents.

Its products have been widely used for the manufacturing of high-end equipment for wind power generation, rail transport, machinery, military projects, aerospace, nuclear power generation, gas turbines, offshore petroleum, chips and semiconductors.

In recent years, the company has taken advantage of the rapid construction of high-speed railways to become a designated supplier for Chinese train-builder CRRC.

The company's IPO application was approved by the China Securities Regulatory Commission, China's top securities watchdog, in early January. It is the first Zhangjiagang-based firm to be listed on the board. Its stock code is 688186.