Nantong Guosheng Intelligent Technology (Group) Co Ltd is located in the Nantong Gangzha Economic Development Zone. [Photo/WeChat account: ntgzjjkfq]

Nantong Guosheng Intelligent Technology (Group) Co Ltd in the Nantong Gangzha Economic Development Zone in Jiangsu province was successfully listed on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, on June 30, with a stock code of 688558.

The IPO raised $573 million ($81 million) with 33 million new shares priced at $17.37 each.

Guosheng Intelligent Technology was the second Nantong firm listed on the STAR market, and one of the few unconditionally passed enterprises on that market.

Guosheng Intelligent Technology, a top 30 company in China Machine Tool & Tool Builders' Association, is a supplier of advanced domestic metal-cutting middle and top grade numerical control (NC) machine tools and intelligent automation production lines.

The company has focused on technological innovation over the past years, and has been committed to the development of middle and top grade NC machine tools. Its self-developed five-axis NC machine tool has been exported to Germany. Import substitution has been realized for key technologies.