On July 31, the IPO of
Jiangsu Fengshan Group was approved by the China Securities Regulatory Commission.
Through the IPO, Jiangsu Fengshan Group plans to raise funds of 575 million yuan, of which 161 million yuan will be spent on the annual 1,500-ton mesotrione technical production upgrade, 171 million yuan on the annual 800-ton quizalofop-p-ethyl and the annual 500-ton quizalofop-P-tefuryl technical production upgrade, 165 million yuan on the annual 700-ton cyhalofop-butyl and 300-ton clodinafop-propargyl technical production upgrade, 78 million yuan on the annual 1,000-ton trichlopyr and the 1,000-ton triclopyr-butotyl technical upgrade.
From 2015 to 2017, the annual business income of Fengshan Group was respectively 977.2756 million yuan, 1.0191315 billion yuan and 1.2592256 billion yuan, while its net profit was respectively 74.8197 million yuan, 71.9233 million yuan and 107.0062 million yuan.
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