Shanghai’s Sun Hua Logistics Co, which was founded in 1999 as a professional logistics service provider with registered capital of $8.5 million, became the first private enterprise in the district of Jiading to be listed on the Shanghai Equity Exchange’s E board, on May 27.
Its chairman, Shi Songbiao, says that they will change their operations to fit their new status and expect to get listed on the main board within three years through further investment, mergers, acquisitions, and other forms.
Sun Hua has 8.5 million shares, 85 percent of which are owned by Shi Songbiao and his wife, with the other 15 percent being held by employees. And, although the company has been listed, there have been no transactions so far on the Shanghai Equity Exchange, and the actual volume and price of the stock have not yet been determined.
In commenting on the change, Shi said, “This time, we plan to put more than 100 million yuan ($15.99 million) into a complete intelligent control stereoscopic warehouse covering 26,667 to 33,333 square meters, with the financing used to expand the business.”
The company started with a 40-square-meter warehouse and, benefitting from good market prospects, has grown to 47,000 square meters and an annual profit margin of around 10 percent. It has plans to expand from its four current operations centers to nine in various other provinces. An official at the Shanghai Equity Exchange praised Sun Hua Logistics saying that it could be a good example for similar enterprises.
The exchange’s E board is a share transfer system for private limited liability companies only.
Edited by Zhang Yuchen