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Zhejiang Bofay Electric Co Ltd in Jiaxing, Zhejiang province. [Photo/cnjxol.com]

Zhejiang Bofay Electric Co Ltd in Jiaxing, Zhejiang province was listed on the main board of the Shenzhen Stock Exchange on Sept 30, according to local media reports.

The number of shares in the initial public offering was 20 million, and the issue price was 19.77 yuan ($2.77) per share.

Bofay Electric is a high-tech enterprise specializing in the research, development, production and sale of polymer composite materials such as electrical insulation materials for motors, generators and transformers.

The company currently has a relatively complete insulation material product system covering insulation resin, high strength slot wedges, insulation casing, mica products, composite materials and thermal expansion materials.

In addition, the company can provide customized products and provide systematic solutions for the application of insulating materials in wind power generation, rail transit, industrial motors, household appliances, new energy vehicles and hydropower.

The city is currently home to 80 domestic and foreign listed companies and will strive to reach its target of 100 listed companies by 2025.