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New Emerging Pipe Fitting Co., Ltd. (stock code: 000778) was listed on the Shenzhen Stock Exchange on June 6, 1997, with an issuance price of 9.80 RMB. It is a core enterprise of Xinxing Cathay International Group (Fortune 500), which is regulated by the State-owned Assets Supervision and Administration Commission of the State Council. The company was originally established in 1971 and was under the command of the logistics department of the People's Liberation Army. It underwent restructuring in 1996 and was officially listed in 1997. The main business of New Emerging Pipe Fitting Co., Ltd. includes centrifugal ductile iron pipes and fittings, steel smelting and rolling processing, casting products, cement, etc.

1. Background and Establishment

New Emerging Pipe Fitting Co., Ltd. was established on May 24, 1997, and is located in Shangluoyang Village, Wuan City. It originated from the Second 2672 Engineering Command of the People's Liberation Army, which was founded in 1971. The company underwent restructuring in 1996 and emerged as a wholly-owned subsidiary of Xinxing Cathay International Group.

2. Main Business

New Emerging Pipe Fitting Co., Ltd. specializes in the production of centrifugal ductile iron pipes and fittings. These products are widely used in various industries such as water supply, gas transportation, and municipal engineering. The company also engages in steel smelting and rolling processing, manufacturing casting products, and producing cement. With a strong focus on product quality and customer satisfaction, New Emerging Pipe Fitting Co., Ltd. has established itself as a leading player in the pipe fitting industry.

3. Listing on the Stock Exchange

On June 6, 1997, New Emerging Pipe Fitting Co., Ltd. was successfully listed on the main board of the Shenzhen Stock Exchange with the stock code 000778. The listing price was set at 9.80 RMB. This marked an important milestone for the company, enabling it to raise capital and expand its operations.

4. VC/PE Support

New Emerging Pipe Fitting Co., Ltd. has received support from venture capital (VC) and private equity (PE) investors. This backing has provided the company with financial resources and strategic guidance to drive its growth and develop innovative products. The VC/PE support has been instrumental in positioning New Emerging Pipe Fitting Co., Ltd. as a recognized industry leader.

5. Financial Performance and Assets

New Emerging Pipe Fitting Co., Ltd. has demonstrated strong financial performance over the years. As of the latest financial report, the company's total assets amounted to 6.87 billion RMB, reflecting its significant scale and stability. The company's consistent profitability and efficient resource utilization have contributed to its solid market position.

In conclusion, New Emerging Pipe Fitting Co., Ltd. is a well-established company that was listed on the Shenzhen Stock Exchange in 1997. With its core business in centrifugal ductile iron pipes and fittings, the company has successfully expanded its operations and achieved remarkable financial performance. With continued support from VC/PE investors, New Emerging Pipe Fitting Co., Ltd. is well-positioned to navigate the evolving market landscape and maintain its leadership in the industry.