New stock news | New Hehua Holdings IPO prospectus invalid

Sichuan Xinhehua Traditional Chinese Medicine Co., Ltd. (referred to as "Xinhehua") submitted its Hong Kong IPO prospectus on April 3, which expired after 6 months on October 3. GF SEC (Hong Kong) and Agricultural Bank International were the joint sponsors at the time of submission. According to the prospectus, Xinhehua is one of China's leading and largest suppliers of traditional Chinese medicine products. Based on the revenue from traditional Chinese medicine products in 2023, the company ranked second in China and was the fastest growing among the top five market participants, with a compound annual growth rate of 27% from 2022 to 2024. The company provides high-quality traditional Chinese medicine products to customers under the brand "Xinhehua". Since its establishment, the company has focused primarily on traditional Chinese medicinal herbs. With its experience in traditional Chinese medicinal herbs and the sales network targeting hospitals, clinics, and pharmacies that it has built up, the company strategically expanded its business to include the retail market with new revenue growth points.