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Zhejiang Mingtai Standard Component (China) Plans to Go Public
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2019-07-17
Zhejiang Mingtai Standard Component Co., Ltd. has had 30 years of history since its inception. It is the top fastener company in Wenzhou City of China, awarded as "one of top ten quality fastener brands" and "an exemplary fastener enterprise recognized for specialty and precision". It went from the manufacture of standard bike parts to scooter parts and then automotive parts. In the course of the past 3 decades, it undertook the "manufacture of high-strength automotive aluminum alloy bolts" as part of the national technical upgrade project.
Mingtai makes immense investments in product development. In recent years it used 8% of its annual revenues on product development to ensure its product advantage. At the present, it is a supplier to many automakers such as local joint ventures between China and Volkswagen, Cummins, Toyota, and Honda. These automakers use Mingtai's fasteners in replacement of their imports.
2019 is a critical year for Mingtai. As a Wenzhou enterprise planning to go public, Mingtai is planning to optimize its equity structure and strengthen R&D capability. To help Mingtai go public, the taxation office put up a team of experts to help the company solve problems in the process and provide instructions on acquiring preferential tax benefits.
Mingtai makes immense investments in product development. In recent years it used 8% of its annual revenues on product development to ensure its product advantage. At the present, it is a supplier to many automakers such as local joint ventures between China and Volkswagen, Cummins, Toyota, and Honda. These automakers use Mingtai's fasteners in replacement of their imports.
2019 is a critical year for Mingtai. As a Wenzhou enterprise planning to go public, Mingtai is planning to optimize its equity structure and strengthen R&D capability. To help Mingtai go public, the taxation office put up a team of experts to help the company solve problems in the process and provide instructions on acquiring preferential tax benefits.
