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Zhejiang Tongxing Technology Co Ltd, which is headquartered in Xinchang county, Shaoxing, East China's Zhejiang province, is expected to go public on the second board, local media reported on July 26.

The company focuses on the research and development, production and sales of refrigeration equipment. The fund raised through being listed on the second board will be spent in the projects related to its cold-chain logistics system and heat exchangers research.

By the end of 2021, the company had possessed 147 patents. The company's tech innovation has brought great changes to the design of heat exchangers and the structure design of vehicle air conditioning pipeline.

The prospectus shows that the company has established cooperation ties with companies including Haier and Media.

Last year, the company received 784 million yuan ($116 million) in business revenue, and its revenue in the first half of this year is expected to reach at least 400 million yuan, a year-on-year rise of 1.79 percent.