In the early hours of this morning, two Chinese companies publicly submitted prospectuses to the US SEC for listing in the United States, all of which plan to be listed on the NASDAQ, namely: Rongye Food*** and Junyu Engineering***
Rongye Food***
On February 6, the company has been approved by the China Securities Regulatory Commission.
The company plans to issue ADS this time, the size of the issue and the issue price have not been determined, **WYHG, plans to be listed on the NASDAQ capital market, and the ratio of ADS to common shares has not been determined.
Prior to the issuance, Wang Xiantao, chairman of the board of directors, held 1671%, CEO Wang Tingfeng holds 2696%。The issuing company adopts a red-chip structure controlled by equity. Listed entity: Wing Yip Food Holdings Group Limited (Rongye Food Holding Group *** is a company registered in Hong Kong.
The company mainly focuses on Cantonese lap-mei series products, and has ** on Tmall, Jingdong and other platforms. In 2018, Rongye Food (China) Holding Group was listed in South Korea, Rongye Lap-mei Enterprise is a family business that has been inherited for three generations, and its Rongye Lap-mei is a well-known time-honored brand, and launched the "Nine Dishes of Lap-mei" that won the honor of "China Famous Banquet", and also launched the revolutionary product of ready-to-eat sausage, creating a "King Craftsman" leisure brand.
In fiscal year 2022, based on the retail sales of bacon products in China, the company ranked 9The market share of 2% ranks second. As at the date of the Prospectus, the products were mainly sold in 18 provinces in Chinese mainland through 7 self-operated stores, 72 distributors (including major retail stores and supermarkets) and 7 e-commerce platforms.
For the six months ended June 30, 2023, the company achieved revenue of 6,59560,000 US dollars, bacon accounted for more than 60%, and the net profit was 6.22 million US dollars.
Junyu Project***
The Company plans to issue 1,500,000 shares of its common stock, representing 625%, in addition to Dusk Moon International Limited, Moss Mist Investment Limited, Prime Win Corporate Development Limited, Shun Kai Investment Development Limited & MrMan Siu Ming will receive 5.51 million shares, representing approximately 23 of its common stock in the closing of the offering0%。The issue price is 4-6 US dollars, **PGHL. It plans to list on the NASDAQ Capital Market
Mr. before this issuanceMan Siu Ming holds 80% of the shares, and the proportion of shares held after the completion of the issuance will be 697 %。
The company is engaged in the construction industry, mainly dealing with the transportation of materials excavated from construction sites. Mainly include: earth and rock transportation services, diesel**, construction engineering, mainly including ELS engineering and bored piling.
For the six months ended September 30, 2023, the company achieved revenue of US$5.87 million, of which soil and rock transportation services accounted for more than 66% and net profit of 58$60,000.