Great Star stakeholder Zhongce Rubber to list on SSE

Hangzhou Great Star Industrial (SZSE:002444) announced that its equity-holding company, Zhongce Rubber Group Co., Ltd., is set to list on the Shanghai Stock Exchange (SSE) Main Board on June 5, 2025, under the stock code 603049. The IPO will see shares priced at CNY46.50 each. Great Star currently holds an indirect stake of 11.44% in Zhongce Rubber before the IPO, which will be diluted to 10.30% after the issuance. Great Star will account for this investment as a long-term equity investment under the equity method. In related news, board member Ms. Xu Zheng resigned from her position due to internal company adjustments but will remain in other roles within Great Star; her vacated position was filled with Ms. Xu being elected as an employee representative to the board.