On April 19, 2024, Tungray Technologies Inc. (hereinafter referred to as Tungray or Tongri Technology) successfully listed on the NASDAQ IPO in the United States under the ticker symbol "TRSG". It confidentially filed a prospectus with the SEC on December 16, 2022, and then publicly disclosed the prospectus on March 10, 2023.
On the same day, Technology issued 1.25 million shares at a price of $4 per share, raising $5 million.
Tongri Technology, as an ETO (Design to Order) company, mainly provides customized industrial manufacturing solutions to OEM equipment manufacturers in the semiconductor, printer, electronics and home appliance industries. Tongri Technology primarily generates revenue through custom industrial manufacturing solutions, induction welding equipment manufacturing, and direct drive and linear direct current (DC) motors. With R&D and manufacturing bases in Singapore and China, Tongri Technology designs, develops and supplies a wide range of industrial products, from custom manufacturing machinery, direct drive and linear DC motors to induction welding equipment.
As of the close of trading on the first day (April 19, 2024), TRSG closed at $5.95 per share on the same day, down 48.75% from the listing offering price ($4 per share), and the current total market capitalization is about $96.6875 million.