Cheng Yi Pharmaceutical has been approved by the China Securities Regulatory Commission to become the 20th listed company in Wenzhou

The day before yesterday, the China Securities Regulatory Commission issued IPO approval documents for 12 enterprises. Among them, Wenzhou pharmaceutical company "Chengyi Pharmaceutical" has been approved to be listed on the main board of the Shanghai Stock Exchange, becoming the 20th listed company in Wenzhou.

Initial public offering, also known as IPO, refers to the first sale of a company's shares to the public. It is understood that the funds raised by the IPO of "Cheng Yi Pharmaceutical" will not only be used for the technical renovation project of the preparation building and the construction project of the R&D center, but also for the construction of a marketing network project.

It is reported that the initial application time for "Cheng Yi Pharmaceutical" was on January 11th, and it was approved for IPO just over a month later. According to the prospectus of Cheng Yi Pharmaceutical, it is planned to issue 21.3 million new shares after going public, with a total share capital of 85.2 million shares after the issuance. At present, the largest shareholder of the company is Chairman Yan Yiyi, who owns 25.05 million shares, accounting for 29.4% of the company's total share capital.

According to the prospectus, "Cheng Yi Pharmaceutical" and its subsidiaries currently have 62 drug production approval numbers. Among them, 40 product regulations were listed in the national medical insurance catalogue (including 28 Class A and 12 Class B product regulations), 15 drugs were listed in the National Essential medicines Catalogue (2012), and 31 product regulations were produced throughout the year. As of the signing date of this prospectus, the company has 4 national new drug varieties, including 3 Class II new drugs and 1 Class IV new drug; Has 9 invention patents and 3 utility model patents.

According to the official website of Zhenjiang Cheng Yi Pharmaceutical Co., Ltd., the company was founded in 1966 and located in Dongtou District. It is a modern joint-stock comprehensive pharmaceutical enterprise specializing in the production of pharmaceutical raw materials, injections and capsules, with more than 400 employees. We can produce over 60 types of products, including raw materials, pharmaceutical intermediates, injections, capsules, and topical drugs, with nearly a hundred specifications. At present, our products are exported to more than 20 countries and regions such as the United States, Canada, Europe, South Africa, and Southeast Asia, with exports accounting for over 50% of total sales.

According to the latest data from the Wenzhou Financial Office, there are currently a total of 20 listed companies and 208 planned to be listed in our city. As of December 28, last year, 56 out of 208 companies planned to go public have been listed on the New Third Board, and 6 companies are pending approval in the national stock transfer system; 4 companies are pending review by the China Securities Regulatory Commission, while 6 companies are providing guidance.

According to the plan, the "Wenzhou sector" will accelerate its growth. According to the three-year action plan for the development of the capital market formulated by our city, we aim to have over 1000 joint-stock reform enterprises, over 100 new third board listed enterprises, over 20 domestic and foreign listed enterprises, and over 18 domestic and foreign tutoring and reporting (to be issued) enterprises by the end of 2017, promoting direct financing of 28 billion yuan.

Source: Wenzhou City Daily