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Xinfeng Seed plans to get listed on NEEQ in China
Mar. 29, 2017
By Think Real - Recently, Zhejiang Wynca Chemical Group Co., Ltd. (Zhejiang Wynca) published a notice about the plan of its subsidiary, namely Shandong Xinfeng Seed Co., Ltd. (Xinfeng Seed), to get listed on the National Equities Exchange and Quotations (NEEQ).
Xinfeng Seed is mainly engaged in the R&D, production and sale of corn and wheat seeds. Its registered capital and total assets are USD4.4 million and USD9.1 million respectively. Currently, it owns a new corn cultivar screening engineering technology center, a seed quality inspection center and a good seed processing center. The corn seeds like Xinfeng (鑫丰) and Qidan (齐单) and wheat seeds like Xinmai (鑫麦) that it produces are sold to around ten provinces and cities in China, with the annual operation volume of 7.0 million kg, sales of USD5.8 million and profit of USD538,236.6 respectively.
Holding 44.0% shares in Xinfeng Seed, Zhejiang Wynca is the largest shareholder of the former. It thinks that the listing of the company will not affect its normal business operation and conforms to its long-term development strategy.
Source: Think Real
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