Guangdong Rifeng Electric Cable Co Ltd listed its shares on the Shenzhen Stock Exchange on May 9.[Photo by Gao Chang]

Guangdong Rifeng Electric Cable Co Ltd went listed on the Shenzhen Stock Exchange on the morning of May 9, with its stock code of 002953. The company saw a 44% increase in share price on the first day, from 10.52 yuan per share to 15.15 yuan per share.

Rifeng, which is based in Zhongshan, mainly produces cabtyre wires and cables used on electrical equipment for such areas as household appliance, engineering machinery, and etc. Over half of its revenue comes from air-conditioning wires and components that are used by domestic brands including Gree, Midea, Hisense-Kelon, TCL, AUX, and Haier.

It has been nearly five years since Rifeng first submitted the listing application.

So far, Zhongshan has up to 35 companies listed at home and abroad.