Zhejiang Zhaolong Interconnect Technology Co Ltd based in Huzhou is listed on the Shenzhen ChiNext Market on Dec 7. [Photo/WeChat account: huzhoufabu]

Zhejiang Zhaolong Interconnect Technology Co Ltd made an initial public offering on the Shenzhen ChiNext Market on Dec 7, according to local media reports.

The company raised a total of 405 million yuan by issuing 30.625 million shares at a price of 13.21 yuan ($2.03) per share. The stock closed at 46 yuan, up 248 percent from its offering price。 

Headquartered in Huzhou, East China's Zhejiang province, Zhejiang Zhaolong Interconnect Technology is mainly engaged in the design, manufacture and sales of data cables, special cables and connection products, which are widely applied in sectors including 5G, cloud computing, smart city, industrial automation, internet of vehicles and smart homes.

The company currently has about 100 R&D employees and its products are being exported to more than 100 countries and regions worldwide.

It is the fifth company based in Huzhou that was listed this year, bringing the total number of listed companies in the city to 38. There are another three from the city that are preparing for their IPOs.