New stock news | Red Avenue New Materials Group (603650.SH) submits application to Hong Kong Stock Exchange

According to the disclosure on February 8th by the Hong Kong Stock Exchange, Red Avenue New Materials Group Limited (Red Avenue New Materials Group (603650.SH)) has submitted an application for listing on the main board of the Hong Kong Stock Exchange with Guotai Haitong/HAITONG INT'L as the sole sponsor. The prospectus shows that Red Avenue New Materials Group is a leading comprehensive new materials service provider in China, focusing on advanced chemical products. The company is mainly engaged in the research and development, production, marketing, sales, and distribution of new chemical materials. During the reporting period, the company's main businesses include three divisions: (i) electronic materials; (ii) rubber additives for tires and other chemical products; and (iii) fully biodegradable materials.