gcashbaccarat| Huesheng Technology terminates the IPO on the main board of the Shenzhen Stock Exchange, originally planned to raise 1 billion yuan from CITIC Securities

editor2024-05-26 16:21:455Academia

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gcashbaccarat| Huesheng Technology terminates the IPO on the main board of the Shenzhen Stock Exchange, originally planned to raise 1 billion yuan from CITIC Securities

Source: China Economic Network

China Economic Net, Beijing, May 26-The website of the Shenzhen Stock Exchange disclosed on May 24 the decision to terminate the review of the initial public offering of shares and its listing on the main board of Hecheng Technology Co., Ltd.(hereinafter referred to as "Hecheng Technology").

On March 3, 2023, the Shenzhen Stock Exchange accepted the application documents for Hecheng Technology's initial public offering and listing on the main board in accordance with the law, and conducted a review in accordance with laws and regulations. Recently, Hecheng Technology submitted the "Application of Hecheng Technology Co., Ltd. for Withdrawing the Application Documents for Initial Public Offering of A Shares and Listing on the Main Board" to the Shenzhen Stock Exchange, and the sponsor submitted the "CITIC Securities Co., Ltd. for Withdrawing the Application Documents for Initial Public Offering of A Shares and Listing on the Main Board" to the Shenzhen Stock Exchange. In accordance with the relevant provisions of Article 62 of the "Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (Revised in 2024)", the Shenzhen Stock Exchange decided to terminate the review of Hecheng Technology's initial public offering and listing on the main board.

The company is a private high-tech enterprise integrating research and development, production and sales. Since its establishment, it has deeply cultivated the two major fields of modified plastics and food sauces and additives, and serves downstream customers through a combination of self-production and distribution.

As of the date of signing the prospectus, the controlling shareholder of the company is Jiang Wenzhen. Jiang Wenzhen directly holds 58 of the companygcashbaccarat. 15% of the shares, and indirectly hold 15.02% of the company's shares through Zhuhai Hecheng, Zhuhai Heye and Zhuhai Chengchuang, holding a total of 73.17% of the company's shares. The actual controllers of the company are Jiang Wenzhen and Hu Binfeng. The two people together directly hold 62.70% of the shares, and Jiang Wenzhen indirectly holds 15.02% of the company's shares through Zhuhai Hecheng, Zhuhai Heye and Zhuhai Chengchuang. To sum up, Jiang Wenzhen and Hu Binfeng directly and indirectly hold a total of 77.72% of the company's shares.

Huecheng Technology originally planned to publicly issue no less than 40 million shares and no more than 120 million shares on the main board of the Shenzhen Stock Exchange. The company originally planned to raise funds of 1 million yuan, which will be used for 100,000 tons of new materials and 50,000 tons of food projects respectively, and to supplement working capital.

The sponsor institution (lead underwriter) of Hecheng Technology is CITIC Securities Co., Ltd., and the sponsor representatives are Deng Jun and Shao Rongsheng.

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