The China Securities Regulatory Commission, China’s top securities watchdog, has recently approved the initial public offering (IPO) application of Zhangjiagang Guangda Special Material Co on the Sci-Tech Innovation Board, also known as the STAR Market, a part of the Shanghai Stock Exchange.

It will be the first Zhangjiagang-based firm to be listed on the board.

The company was founded in 2003 and focuses on the research, development, and manufacturing of high-end alloy materials.

Its products have been widely used for the manufacturing of high-end equipment for wind power generation, rail transport, machinery, military projects, aerospace, nuclear power generation, gas turbines, offshore petroleum, chips, semiconductors, and more.

In recent years, the company has taken advantage of the rapid construction of high-speed railways to become a designated supplier for Chinese train-builder CRRC.

Zhangjiagang is currently home to 21 listed companies, and the number is expected to increase to 24 in 2020.