Annunciation wins listing pass as the fifth listed company in Wenzhou

On July 16, the application of the IPO (initial public offering) of Zhejiang Baoxiu Fashion Co., Ltd. passed the approval of the issuing committee of the China Securities Regulatory Commission. According to reports, the "Good News" will issue 24 million shares, and the total share capital will reach 96 million shares after issuance. After the issue, it will be listed on the Shenzhen Stock Exchange.

According to the prospectus, the company plans to raise funds of 220 million yuan, which is mainly used for chain marketing network construction projects, annual production of 100,000 high-end suit production line technological transformation projects, and an annual output of 600,000 high-end shirt production line technological transformation projects, Brand Design R&D Center Technical Transformation Project.

According to reports, after the “communion” of “Good News”, the next step is to obtain the stock issuance code and then issue the listing. Under normal circumstances, the intermediate interval will not be too long. This will be the fifth listed company in Wenzhou following "Zhejiang Dongri", "Ruili Group", "Huafeng Spandex" and "Huayi Electric."

Shengxi Bird Clothing Co., Ltd. was established on June 20, 2001 with a registered capital of 72 million yuan. The business scope covers the production and sales of clothing, leather shoes, and leather products, as well as import and export business. The market share of the leading product “Zhebao Bird” in the integrated market was among the highest in the country.

The Announcement of the Annunciation has been going on for 5 years. It began to be listed and coached in 2002. It passed counseling and acceptance and reported the initial application materials in August 2004. It was shelved due to the temporary suspension of reform of the equity division in the capital market. In the second half of 2006, the issuance of a heavy nuclear issue by the issuing and reviewing committee was re-raised on the agenda. On September 19 last year, the CSRC's issuing committee passed an application for the initial application for new shares of "Xiaoxin Bird".

A person from the Shanghai Municipal Development and Reform Commission’s listing office said that, like Baoxi Bird, many powerful private enterprises in Wenzhou, but not yet listed, are busy preparing for the capital market. At present, the city has reached 5 sponsorship agreements with securities firms, and there are sufficient follow-up resources. There have been more than 70 companies that have undergone joint-stock reform and reached a certain scale.

Zhejiang Baoxi Bird Clothing Co., Ltd. was established in 2001 with a registered capital of 72 million yuan. It is mainly engaged in the design, production and sales of Baoxi Bird brand suits and shirts and other men's apparel products. The company insists on the development of the domestic high-end men's fashion line. It has taken the lead in the introduction of franchise chain franchise sales model. At present, it has more than 500 stores with unified image, unified price, unified service, and unified management, establishing the most standardized operation in China. One of the most comprehensive men's monopoly retail systems in the network is the "five batch" key enterprises in Zhejiang Province.