CSRC approved Hengxin Lifestyle's registration for the Growth Enterprise Market IPO.

On December 26th, the China Securities Regulatory Commission issued the approval for the initial public offering of shares of Hefei Hengxin Life Technology Co., Ltd. It is reported that Hengxin Life plans to list on the Shenzhen Stock Exchange's ChiNext board, with Huaan as the IPO sponsor, aiming 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 original paper, PLA particles, and traditional plastic particles. The company's main product, biodegradable tableware, is environmentally friendly and carbon-reducing, contributing to achieving the dual carbon goal in line with the national strategic direction. The company has multiple production bases nationwide, with products covering various consumption scenarios such as fast food, takeout, beverages in the catering industry, large enterprises or institutions, civil aviation, household daily consumption, etc. During the reporting period, the sales revenue of biodegradable products accounted for 59.19%, 52.56%, 54.04%, and 57.63% of the main business income respectively. After years of development, the company has independently developed and mastered technologies such as modification of PLA plastic particles, film coating, and plastic molding. It has the ability to provide integrated services for the research, development, and manufacturing of paper and plastic tableware according to customers' personalized needs. The main products include biodegradable PLA film-coated paper cups/bowls, PLA film-coated paper lunch boxes, PLA cups/covers, PLA lunch boxes, PLA knives/forks/spoons, PLA straws, paper cup sleeves, as well as PE film-coated paper cups/bowls, PP/PET cups/covers, lunch boxes, PS cup covers, etc.