Zhejiang Yanpai Filtration Technology Co Ltd makes its initial public offering on the Shenzhen Stock Exchange on Oct 20. [Photo/WeChat account: tzfb001]

Zhejiang Yanpai Filtration Technology Co Ltd made its initial public offering on the Shenzhen Stock Exchange on Oct 20, becoming the 67th listed company from Taizhou, East China's Zhejiang province.

The company issued 42.67 million shares at a price of 12.95 yuan ($1.99)  per share. The raised funds will be used to expand its production capacity of high-performance filtration materials.

Headquartered in Taizhou's Tiantai county, Yanpai Filtration is mainly engaged in the R&D, production, and sales of industrial filtration fabrics.

It has been designated a national high-tech company and listed as a "little giant", which refers to industry leaders recognized by the Ministry of Industry and Information Technology with excellent innovation capabilities, large market shares, core technologies, as well as high product quality and profitability.

The company has seen steady growth in its revenue in recent years. Its revenue rose from 370 million yuan in 2018 to 572 billion yuan in 2020.

A view of the headquarters of Zhejiang Yanpai Filtration Technology Co Ltd, which is located in Taizhou's Tiantai county. [Photo/WeChat account: tzfb001]