An automated workshop of Ningbo Longyuan. [Photo/Ningbo Longyuan official website]

Ningbo Longyuan (stock code: 920055) was listed on the Beijing Stock Exchange on March 31, becoming the city's first A-share IPO of 2026.

The debut brings the total number of listed companies in Ningbo to 155, including 126 on the A-share market.

Longyuan issued 17 million shares at 24.70 yuan ($3.57) each, raising about 420 million yuan. The stock opened at 36.00 yuan, a 45 percent increase over its issue price.

Founded in 2006 and based in Ningbo's Beilun district, Longyuan specializes in the research, production, and sale of precision aluminum alloy die-casting components. Its products are widely used in key automotive systems, including engines, batteries, motors, and electronic control systems for new energy vehicles (NEVs), steering systems, and thermal management systems.

In recent years, the company has capitalized on the rapid shift toward vehicle electrification and lightweighting, delivering steady revenue and profit growth while serving major global auto parts suppliers and manufacturers.

Proceeds from the IPO will primarily fund capacity expansion and R&D. A major project will increase annual production capacity by 14.2 million units to meet rising demand for NEV and lightweight automotive components.