New stock news | Aerospace Port's Hong Kong IPO prospectus invalidated, the company is the world's largest supplier of sea buckthorn products.

Inner Mongolia Aerospace Sand Industry Co., Ltd. (hereinafter referred to as "Aerospace") submitted its Hong Kong IPO prospectus on June 25, 2024, which expired after 6 months on December 25. Bank of China International was its exclusive sponsor at the time of submission. The prospectus shows that Inner Mongolia Aerospace Sand Industry Co., Ltd. is dedicated to developing, producing, supplying, and marketing high-quality seabuckthorn products, focusing on healthy and nutritious food, including beverages, purees, and health foods. According to Frost & Sullivan, in 2023, based on seabuckthorn berry processing volume, the company is the world's largest supplier of seabuckthorn products and one of the most diversified seabuckthorn product suppliers globally, with a diverse product portfolio of 39 products, ranging from beverages and purees to health foods, sold to customers in various industries such as food and beverage, cosmetics, nutrition, and health products. Apart from nationwide sales in China, the products are also sold to a total of 11 other countries or regions, including Japan, Malaysia, Germany, and South Korea. The prospectus also shows that during the performance record period, a significant portion of the company's revenue came from Aerospace Japan Co., Ltd. ("Aerospace Japan"), a customer with which the company has maintained a business relationship for over 16 years and is the company's largest customer each year during the performance record period. Japan is the company's largest overseas market each year during the performance record period, with revenues accounting for approximately RMB 48.9 million, RMB 81.4 million, and RMB 78.6 million in the fiscal years 2021, 2022, and 2023, respectively, representing about 33.4%, 43.6%, and 35.7% of the revenue in those years. Financially, from fiscal year 2021 to 2023, Aerospace achieved revenues of RMB 147 million, RMB 186 million, and RMB 220 million respectively, with net profits attributable to shareholders of approximately RMB 20.9 million, RMB 30.8 million, and RMB 46.2 million, respectively.