Chinese rubber group Zhongding to list on Swiss exchange

Shenzhen, China – Chinese major rubber group Zhongding Co. has announced that it is planning to list on the SIX Swiss Exchange as part of the strategy to “deepen international layout” and “move towards intelligence and electrification”.

In a filing with the Shenzhen Stock Exchange 10 Oct, the group, which has recently expanded with a number of overseas acquisitions, said the decision had been approved by the board of directors and shareholders.

The listing can be formally implemented after being approved by the competent domestic and foreign regulatory agencies.

Explaining the decision, Zhongding said it had entered the "overseas management and control" stage, building “a global organisational structure system”.

The listing, it said, will help the group accelerate growth in new energy vehicles, while strengthening position in domestic and overseas markets such as North America.

The move will also support Zhongding in advancing towards “intelligence and electrification” while maintaining “steady growth in traditional businesses.”

The traditional businesses, said the group, include air suspension systems and lightweight chassis as well as fluid management systems.

“The issuance [of shares], will continue to focus on the core strategic goal of the intelligent chassis system and increase investment in R&D and innovation,” it added.

Founded in 1980 in Zhongxi, Anhui Province, Zhongding Group specialises in the production of rubber parts for the automotive, rail and aerospace industries.

The group expanded overseas with a US subsidiary in 2003 and a German subsidiary in 2008.

In Europe, the group owns a number of key suppliers, including sealing systems provider Kaco, vibration damper supplier Wegu and fluid management systems specialist Tristone.

Most recently, in 2021, Zhongding purchased the rubber business of suspension system from Bridgestone.