NEWTREND GROUP (02573) Receives CSRC Filing Approval for "Full Circulation" of Domestic Unlisted Shares

Stock News01-28

On January 28, the Department of International Cooperation of the China Securities Regulatory Commission issued a "Filing Notice for the 'Full Circulation' of Domestic Unlisted Shares of Newtrend Group Co., Ltd." Two shareholders of NEWTREND GROUP (02573) intend to convert their combined holding of 41,082,340 domestic unlisted shares into overseas listed shares for trading on the Hong Kong Stock Exchange.

If the share conversion is not completed within 12 months from the date the filing notice was issued, and the company intends to continue the process, it must update its filing materials. According to the prospectus, NEWTREND GROUP is a manufacturer of food-grade glycine and sucralose.

The company is primarily engaged in the production and sales of food-grade glycine, industrial-grade glycine, and sucralose. During the track record period, sales of sucralose accounted for approximately 49.6%, 51.1%, and 41.8% of the company's total revenue, respectively.

Sales of food-grade glycine accounted for approximately 40.6%, 40.1%, and 42.0% of the company's total revenue, respectively, while sales of industrial-grade glycine accounted for approximately 7.6%, 6.1%, and 11.7% of the total revenue, respectively.

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