New Stock News | New Shihaogang Stock IPO Prospectus Invalid Focuses on Research, Development, and Sales of Baby Diapers

Sichuan Xinshihaomuying Commodity Co., Ltd., a subsidiary of LANTIAN Group Holdings Limited (referred to as "Xinshihaomuying"), submitted its Hong Kong IPO prospectus on February 8, 2024, which expired on August 8, six months after submission. Lihigh Corporate Finance Limited was the exclusive sponsor at the time of submission. According to the prospectus, Sichuan Xinshihaomuying Commodity Co., Ltd. is a manufacturer of disposable medical-grade infant and toddler diapers, headquartered in Meishan City, Sichuan Province, China. The company focuses on the design, production, research and development, sales, and marketing (using a cross-channel sales and distribution model) of infant and toddler diapers. The company's main products are roughly divided into infant and toddler diapers and pull-up pants, sold under their own brands "Qisepig" and "Congbo". According to a Frost & Sullivan report, based on retail sales in 2022, the company ranks among the top 20 domestic brand suppliers of infant and toddler diapers in China, with a market share of approximately 3.0% among domestic companies. As of the last practical date, the company's self-branded product portfolio includes over 20 different series with independently designed and/or third-party copyrighted designs, with varying packaging and appearance designs. During the historical period, the company also produced and supplied a small amount of diapers to customers. In terms of finances, the company achieved revenues of approximately RMB 340 million, RMB 538 million, and RMB 488 million in the fiscal years 2021, 2022, and the nine months ended September 30, 2023, respectively. During the same periods, the annual/profit for the period were approximately RMB 20.36 million, RMB 46.535 million, and RMB 43.993 million respectively.