Jiangsu Liance Electromechanical Technology Co Ltd goes public at the Shanghai Stock Exchange on May 6, becoming the first STAR board-listed company in Qidong. [Photo/WeChat account: wxntfb]

Jiangsu Liance Electromechanical Technology Co Ltd – known for short as Liance Technology – made its debut on May 6 on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR board.

It is the fourth STAR board-listed company from Nantong and the first one based in Qidong – a county-level city administered by Nantong in East China's Jiangsu province.

Its stock code is 688113 and it issued 16 million shares – which debuted at 19.14 yuan ($2.96) per share, raising 306.24 million yuan from the initial public offering.

Liance Technology is a technology-based enterprise focusing on research and development, manufacturing and sales of power system intelligent test equipment.

It provides power system testing and verification services. Its products and services are mainly used in the fields of new energy vehicles, the oil-fuel automotive sector, as well as in shipping and aviation.

By the end of 2020, the company owned eight patents for inventions, 60 patents for utility models and 30 software copyrights.

Most experts say that the sustainable development of Nantong's economy and its society is inseparable from the strong support of finance, especially the capital market.

The Nantong municipal Party committee and government have reportedly always attached great importance to the development of the capital market and have introduced measures to provide support for companies that want to go public.

At present, the city has 48 listed companies, four of which were listed this year.