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A workshop of Zhejiang Ronnie Precision Machine Co Ltd in Jiaxing. [Photo/cnjxol.com]

Zhejiang Ronnie Precision Machine Co Ltd became the 7th listed company in Jiaxing, East China's Zhejiang province when it was listed on the Beijing Stock Exchange on June 9.

Its initial public offering raised 122 million yuan ($18.06 million) that will be used mainly for the construction of a smart factory, a research and development center and to replenish working capital.

Products produced by Zhejiang Ronnie Precision Machine Co Ltd in Jiaxing. [Photo/cnjxol.com]

Established in 2002, Ronnie Precision is a market leader in the field of precision parts for laptops. In recent years, the company has captured more than 40 percent of the global market share for embedded nuts for laptops.

In August 2021, the company was rated as a national "little giant" enterprise by the Ministry of Industry and Information Technology.

The company is currently aiming to strengthen its investments in emerging high value-added fields such as new energy vehicles and medical treatment, and improve its competitiveness in the precision parts industry, said Tang Xuwen, chairperson of Ronnie Precision.

With the listing of Ronnie Precision on the Beijing Stock Exchange, the number of listed companies in Jiaxing has expanded to 77, the fourth highest in the province.