Representatives of Zhejiang Zhigao Machinery Co celebrates its debut on the Beijing Stock Exchange. [Photo/Tide News]

Zhejiang Zhigao Machinery Co debuted on the Beijing Stock Exchange on Aug 14, becoming the 19th listed company from Quzhou in Zhejiang province.

Founded in 2003, Zhigao Machinery specializes in rock drilling equipment and air compressors. The company reported a revenue of 888 million yuan ($123.56 million) and a net profit of 105 million yuan in 2024.

In 2022, the company was recognized as a national "little giant" firm, which refers to an innovative specialized small enterprise recognized by the Ministry of Industry and Information Technology.

Moreover, it ranked 17th among China's Top 50 Specialized Manufacturers of Construction Machinery in 2024. Its products serve industries such as mining, construction and petrochemicals.

Zhigao Machinery's stock offering raised 374 million yuan, which will be used to develop its intelligent drilling machine production lines and R&D center.

Chairman Xie Cun said the listing would accelerate his company's growth, focusing on high-end equipment manufacturing, technological innovation and global market expansion, particularly in line with the Belt and Road Initiative.

The company aims to raise its international profile and move toward being a global leader in engineering machinery manufacturing.