Hangzhou Zhongce Rubber Co. Ltd (ZC Rubber) recently provided an update on the progress of its initial public offering (IPO). According to the data, Zhongce Haichao (a company established in 2019 by four local Hangzhou companies to invest in ZC Rubber, namely Hangzhou Great Star Industrial Co., Ltd., Hangcha Group Co., Ltd., Juxing United Holding Group Co ., Ltd., and Hangzhou Haichao Enterprise Management Partnership (Limited Partnership) holds 41.08 percent of the shares of the tire maker and is the company’s controlling shareholder. Qiu Jianping and his daughter Qiu Fei hold 46.95 percent of the shares and the corresponding ZC Rubber’s voting rights over Zhongce Haichao and several other companies and therefore controls ZC Rubber.
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