New Stock News | Zhoushan Xinnuojia Plans Hong Kong IPO, Key Intermediaries Have Been Announced

Zhoushan Xinnuojia Bioengineering Co., Ltd. ("Xinnuojia") plans to list in Hong Kong, and the tender announcements for some intermediary institutions have now been completed. According to the Zhejiang Enterprise Procurement Information Service Network, per the announcements, some of the winning bidders already disclosed include: Hong Kong Stock Exchange IPO sponsor and underwriting service institution: Caitong International; sponsor's PRC law firm: Jingtian & Gongcheng; sponsor's offshore law firm: Tianyuan (Hong Kong); issuer's PRC law firm: Zhejiang Liuhe; issuer's offshore law firm: AllBright (Hong Kong); financial audit service institution: KPMG Huazhen. Information shows that Xinnuojia is a state-owned enterprise effectively controlled by the Zhoushan State-owned Assets Supervision and Administration Commission. The company's two shareholders are Zhejiang Xingye Group Co., Ltd. and its wholly owned subsidiary Zhoushan Ruiyang Aquatic Product R&D Co., Ltd. The largest shareholder of Xingye Group is the Zhoushan SASAC. Xinnuojia focuses on its core business of refined fish oil, concentrating on the R&D, production, and sales of high-purity Omega-3 refined fish oil. With mature and superior production processes, a strict full-process quality control system, and core technological advantages, it has built a full product line with Omega-3 content ranging from 30% to 90%, which can be widely applied in the greater health sector.