Shengquan Group, a leading Chinese resinous material production company, was listed on the Shanghai Stock Exchange on Aug 10.

It is the 50th company in Jinan to be listed and the 20th company in Jinan to be listed on the Shanghai Stock Exchange. The group has a share price of 24.01 yuan ($3.71), and plans to issue 81.06 million shares.

Shengquan Group, founded in 1994, has a registered capital of 694 million yuan. It is a high-tech enterprise mainly engaged in the R&D, production, and sale of synthetic resin and composite materials, biomass chemical materials, and related products. Its operating revenue totaled 8.32 billion yuan by the end of 2020.