Jingda's investee Shanghai Superconductor's IPO application accepted

Tongling Jingda Special Magnet Wire (SSE:600577) announced today that the Shanghai Stock Exchange has accepted the IPO application of Shanghai Superconductor Technology, a company in which it holds an 18.15% stake, representing 9,458.75 million shares. Shanghai Superconductor specializes in the research, production, and sale of high-temperature superconducting materials and is one of only two companies internationally that mass-produces second-generation high-temperature superconducting tapes at a scale exceeding one thousand kilometers per year. The IPO on the Science and Technology Innovation Board is still subject to review by the Shanghai Stock Exchange and approval by the China Securities Regulatory Commission.