New stock news | China's leading comprehensive agricultural service company Zhonghe Rural Credit Port's IPO prospectus invalid

The prospectus submitted by Zhonghe Rural Credit Co., Ltd. (referred to as Zhonghe Rural Credit) on February 28, 2024 expired after 6 months on August 28, with CICC being its exclusive sponsor at the time of submission. According to the prospectus, Zhonghe Rural Credit is a leading comprehensive agricultural service provider in China, empowering small farmers and rural micro-enterprise owners through technology-driven comprehensive products and services, including rural inclusive credit services, agricultural production services, rural consumer goods and services, and rural clean energy services. After nearly 30 years of deep cultivation in the rural market, the company has established a comprehensive offline service network reaching rural areas and leading digital service capabilities, achieving remarkable results. As of September 30, 2023, the company's business covers nearly 500 counties in 21 provinces nationwide, rooted in over 100,000 villages, and serving nearly 200 million rural residents. As of the same date, the company has more than 6,400 service team members and over 118,000 village-level partners in nearly 500 local service outlets reaching rural users. In terms of finances, the company's revenue for the fiscal year 2021, 2022, and the nine months ending September 30, 2023 were approximately RMB 2.224 billion, 2.429 billion, and 2.272 billion respectively. During the same period, the company's net profit for the year was approximately RMB -36.438 million, -199 million, and 330 million respectively.