The IPO of the Largest Domestic Metronidazole API Manufacturer has Passed the Meeting

On the evening of August 26, the announcement of the results of the 57threview meeting of the GEM Listing Committee in 2022 showed that Hubei HongyuanPharmaceutical Technology Co., Ltd. (hereinafter referred to as "HongyuanPharmaceutical") was approved for its initial application. As early asDecember 2016, Hongyuan Pharmaceutical had submitted an application forlisting, but later withdrew the application due to "adjustment of thelisting plan". This is the company's second application for IPO.

In this IPO, Hongyuan Pharmaceutical plans to raise 651 million yuan forthe R&D center and multi-functional test workshop, antiviral APIs andintermediates, and high-end preparation workshop projects with an annual outputof 2.5 billion tablets (granules).

The prospectus disclosed that Yin Guoping, chairman of HongyuanPharmaceutical, his wife Liao Liping, and vice chairman Yan Xiaohui are thejoint actual controllers of the company. The concerted action agreement and thesupplementary agreement to the concerted action agreement together own 50.78%of the company's shares.