Hengxin Life Deeply Submits IPO Registration at Shenzhen Stock Exchange. The company's main products are biodegradable food utensils.

On December 16, Hefei Hengxin Life Technology Co., Ltd. (referred to as Hengxin Life) applied for a change in the IPO review status of the Shenzhen Stock Exchange's Growth Enterprise Market to "submitted for registration." Huaan is its sponsor institution, and the company plans to raise 828.32 million yuan. According to the prospectus, Hengxin Life researches, produces, and sells paper and plastic tableware using raw materials such as base paper, PLA particles, and traditional plastic particles. After years of development, the company has independently developed and mastered technologies such as PLA plastic particle modification, film coating, and molding. It has the ability to provide integrated R&D and manufacturing services for paper and plastic tableware according to customer's personalized needs. Its main products include biodegradable PLA film-coated paper cups/bowls, PLA film-coated paper lunch boxes, PLA cups/lids, PLA lunch boxes, PLA cutlery, PLA straws, paper cup sleeves, as well as PE film-coated paper cups/bowls, PP/PET cups/lids, lunch boxes, PS cup lids, etc. The company's main product, biodegradable tableware, can achieve biodegradation and is a typical eco-friendly, carbon-reducing product that can help achieve the "dual carbon" goal, in line with national strategic direction. During the reporting period, the sales revenue of biodegradable products accounted for 54.39%, 52.35%, and 59.19% of the company's main operating income. With a philosophy and goal of enhancing user experience, the company's main products, known for their environmentally friendly properties, high-end quality, and attractive design, are favored by domestic and foreign customers, becoming the provider of paper and plastic tableware for many well-known domestic and foreign enterprises such as Luckin Coffee, Starbucks, McDonald's, Coco, etc. After deducting issuance expenses, Hengxin Life plans to invest in the following projects: Financially, in 2021, 2022, 2023, and January-June 2024, Hengxin Life is expected to achieve operating revenues of approximately 719 million yuan, 1.088 billion yuan, 1.425 billion yuan, and 733 million yuan, respectively. During the same period, the company is expected to achieve net profits of approximately 81 million yuan, 166 million yuan, 221 million yuan, and 106 million yuan respectively.