Qinhui Technology International, which makes and sells auto and train components in China, filed on Tuesday with the SEC to raise up to $7 million in an initial public offering.
The Wuhu, China-based company plans to raise $7 million by offering 1.3 million shares at a price range of $5 to $6. At the midpoint of the proposed range, Qinhui Technology International would command a market value of $95 million.
Through its operating subsidiaries, Qinhui Technology manufactures and sells components and accessories of passenger automobiles, trucks, and train cars in China. Its notable products include a liquefied natural gas cylinder frame for trucks.
Qinhui Technology International was founded in 2002 and booked $30 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol QHT. The company filed confidentially on September 12, 2024. Kingswood Capital Markets is the sole bookrunner on the deal.
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