Good News! Tengyuan Cobalt Goes Public on ChiNext

On March 17, 2022, Ganzhou Tengyuan Cobalt New Material Co., Ltd. officially went public on ChiNext (stock abbreviation: Tengyuan Cobalt; stock code: 301219), becoming the first listed company based in Ganxian District and marking the company’s entrance to a new development stage and its role as a leading contributor to the economic development of this district. 

To respond to the national call for pandemic prevention and control, Tengyuan Cobalt moved the listing ceremony online. It issued 31,486,900 shares for the IPO at a price of RMB 173.98. 

Attendees of the listing ceremony included Wu Zhongqiong, Deputy Secretary of the CPC Jiangxi Provincial Committee and Secretary of the CPC Ganzhou Municipal Committee; Yin Meigen, Vice Governor of Jiangxi Province; and other provincial government leaders including Wei Xiuchang, Director of the Jiangxi Provincial Local Financial Supervision Administration; Tang Libin, Director of the China Securities Regulatory Commission Jiangxi Branch; Xin Qinghua, Director of the Department of Industry and Information Technology of Jiangxi Province; relevant leaders from the CPC Ganzhou Municipal Committee and the municipal government; Luo Jie, Chairwoman and General Manager of Tengyuan Cobalt; and Wu Dong, Managing Director and sponsor representative of the headquarters of Dongxing Securities, as well as shareholder representatives, customer representatives, supplier representatives, intermediary members, our employees and management teams and friends from all walks of life who have been our long-time supporters. 

Luo Jie, Chairwoman and General Manager of Tengyuan Cobalt, said in her speech, "Today, Tengyuan Cobalt successfully went public on the domestic capital market. It is a major milestone in corporate history and also a new starting point and driving force for us. We will firmly seize the hard-earned opportunity and leverage the power of capital markets. We will keep working hard as usual. Through equity investment projects, we will further extend the upstream and downstream, build innovation capacity, expand production, enhance competitiveness, commit to fast performance growth, maximize our value, give back to shareholders, employees and society, and eventually share interests with stakeholders including customers!" 

Zhang Jun, Chairman and Vice General Manager of Dongxing Securities Co., Ltd., made a speech online. He congratulated the company by saying, "As a leading cobalt salt producer in China, Tengyuan Cobalt enjoys strong comprehensive competitiveness in both 3C batteries and new energy power batteries thanks to its advantages in resources and deep processing and to its quality products. Today, Tengyuan Cobalt has gone on a new journey—the A-share market. I'm sure it will achieve leap-frog development again and accomplish more remarkable achievements in the future. We earnestly hope Tengyuan Cobalt will make full use of the capital market, consolidate and further its existing advantages, and further improve its competitiveness and comprehensive strength to become the most valuable cobalt salt producer. As the lead underwriter (sponsor), Dongxing Securities Co., Ltd. will strictly follow securities laws and regulations and the listing rules of the Shenzhen Stock Exchange to perform our supervision duty and assist Tengyuan Cobalt in regulated operation in the capital market with our professional services." 

Liao Yongping, Secretary of Ganxian District, said in his speech, "Tengyuan Cobalt is a modern enterprise incorporating scientific research, production and trade and a key and outstanding supplier in the fields of new energy and 3C batteries. As a local enterprise based in the old revolutionary base area in Ganzhou, Tengyuan Cobalt has implemented the development strategy of "extending upstream, enlarging midstream and expanding downstream; relying on and safeguarding our resources supplying places, and focusing on new materials for development" under the leadership of Chairwomen Luo Jie since its founding in 2004. Thanks to the hard work and solidarity of its employees, Tengyuan Cobalt has realized quick, stable development and become an industry leader. Its success in going public marks a breakthrough as the first listed company in our district. It also indicates that Tengyuan Cobalt has entered a new development stage as a leading contributor to the economic development of Ganxian District. This provides local enterprises with confidence and motivation to grow and enter the capital market. We believe Tengyuan Cobalt will certainly seize opportunities on the capital market to achieve leap-frog development, give back to society and investors with exceptional performance, and make a larger contribution to economic and social development."