Hangzhou Flariant Co Ltd made its initial public offering on the main board of the Shanghai Stock Exchange on Oct 25, becoming the 18th listed company from Hangzhou's Qiantang district.
The company issued 133.34 million shares at a price of 32.21 yuan ($4.95) each.
Based in the Linjiang High-tech Industrial Park, Flariant engages in the research and development, production and sale of disperse dyes and filter cakes for dyeing and printing textiles in China.
The company's sales of medium and high-end disperse dyes was 507 million yuan in 2018, 544 million yuan in 2019 and 508 million yuan in 2020. Its annual revenue during these three years was 736 million yuan, 1.102 billion yuan and 998 million yuan respectively.
Flariant has since its establishment been constantly innovating its products to meet the changing market demands.
The company currently has 47 patents, including 37 invention patents, and has participated in the formulation of dye industry standards.
The Linjiang High-tech Industrial Park where Flariant is located is an industry hub for new materials in Qiantang district. The industrial park has three industrial clusters: inorganic chemical raw materials, organic chemical raw materials as well as paint, pigments and dyes.