Rakuten on January 29
Oriental Rise Holdings Limited (Min Donghong Group) has recently passed the IPO filing of the China Securities Regulatory Commission.
Oriental Rise is an overseas initial public offering (IPO) filing materials submitted by Fujian Mindong Black Tea Industry Technology Co., Ltd., a domestic operating entity, and the Company intends to issue up to 3,450,000 ordinary shares and list on the NASDAQ** exchange in the United States.
It is understood that Mindonghong Group is a comprehensive tea products supplier located in China, with vertically integrated businesses covering tea planting, processing, and sales of tea products to tea operators and end customers in China. As at the Latest Practicable Date, Mindonghong Group owned tea plantations with an area of approximately 9,004 acres that had been contracted to operate, which were located in Zherong County, Ningde City, Fujian Province.
The main tea products of Mindonghong Group include virgin tea, including white tea and black tea, and refined white tea and black tea. Min Donghong once sprinted to the Hong Kong Stock Exchange, but to no avail.
According to the prospectus, Min Donghong's revenue in 2021 and 2022 will be 2236 respectivelyUS$80,000 and US$24.31 million; The net profit was US$9.38 million and US$11.85 million respectively.
Min Donghong's revenue in the first half of 2023 was US$15.07 million, an increase of 2% from US$14.76 million in the same period last year; Net income was $8.5 million, down 4 percent from $8.9 million in the year-ago quarter53%。
Before the IPO, Zhuo Wang held 243%，mr.WONG holds 409%，mr.Fong holds 87%, and Emeline Cryielle Forcade holds 78%。
After the IPO, Zhuo Wang held 239%，mr.WONG holds 401%，mr.Fong holds 85%, and Emeline Cryielle Forcade holds 77%。
Lei Di was founded by ** Lei Jianping, if ** please in**.