[Summary] The world changes, innovation remains
The company was established as a joint-stock enterprise on January 2, 1985, upon approval by the Financial Management Office of the Shanghai Branch of the People's Bank of China for public issuance. It was among the first batch of joint-stock pilot enterprises in Shanghai. In November 1985, it issued 10,000 corporate shares and 90,000 individual shares with a face value of 50 yuan each at a price of 50 yuan per share. In September 1986, its shares were traded over the counter at the Shanghai Jing'an Securities Department.
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