On Friday morning, November 17th, Zhongman Petroleum and Natural Gas Group Corp., LTD was listed on the Shanghai Stock Exchange with an initial IPO that successfully landed on the A-share market in China.  It marks the beginning of a new era of ZPEC’s development.

Leaders in the Shanghai lingang area development administration, the China (Shanghai) Free Trade Area Management Committee, Lujiazui Administration, shareholders, management team, intermediaries, invited guests and staff representatives, totaling more than 200 people, attended the listing ceremony and witnessed this exciting moment.

ZPEC issued 40,000,100 shares at an average daily offering price of 22.61 yuan per share.  The company's IPO P/E ratio was 22.99 times with a total IPO amount of 904 million yuan.  After deducting the cost of issue，the net actual IPO amount was 841 million yuan.Funding will be used to further expand the company’s drilling, cementing, completion, logging services, and equipment offerings, while enhancing the company's integrated drilling services capabilities.