Green Bio Technology Co., Ltd., known as Green Bio, has successfully passed the listing review by the Shenzhen Stock Exchange's ChiNext Board for its initial public offering. The IPO is underwritten by Changjiang Securities, with plans to raise 6.9 billion yuan. According to its prospectus, Green Bio is a pioneer and a well-known enterprise in China's fragrance industry. Since its establishment, the company has focused on the research, development, production, and sales of fragrance products, forming three major product series: turpentine, cedarwood oil, and fully synthetic fragrances. Its specific products include nearly 40 varieties such as the sandalwood series, methyl cedryl ketone, and the damascone series. These products are primarily used as raw materials for formulating daily chemical fragrances downstream, widely applied in washing, cleaning, disinfection, and personal care products, indicating substantial market demand. After over two decades of development and accumulation, Green Bio has built core competitiveness in the research, development, and production of high-quality fragrance products. It is one of the few fragrance enterprises in China that has mastered damascone production technology and achieved industrialization. The company stands as one of the largest suppliers of methyl cedryl ketone and a significant provider of sandalwood products in the country. Green Bio is among the first Chinese fragrance companies to enter the international flavor and fragrance market. It serves as the REACH global lead registrant for five products, including methyl cedryl ketone, cedryl acetate, dimethylheptanol, dihydrocoumarin, and cedrol. The company has successfully integrated into the global supply chains of internationally renowned flavor and fragrance firms and daily chemical corporations such as Givaudan, DSM-Firmenich, International Flavors & Fragrances, Symrise, and Procter & Gamble, maintaining long-term stable partnerships. The company's main business revenue primarily derives from sales of turpentine series, cedarwood oil series, and fully synthetic fragrance products. During the reporting periods, revenue from these products accounted for over 97% of the total main business revenue. Green Bio is engaged in the research, development, production, and sales of fragrances. Its downstream clients are mainly large international flavor and fragrance companies, consumer goods corporations, and major international traders. The company secures orders through participation in domestic and international fragrance exhibitions, customer referrals, and repeat purchases from existing clients. It organizes procurement using a combination of production-based purchasing and safety stock methods and adopts a sales-driven production model with flexible inventory management for manufacturing. Financially, for the years 2023, 2024, and 2025, the company achieved operating revenues of approximately 7.35 billion yuan, 9.61 billion yuan, and 10.75 billion yuan, respectively. During the same periods, it recorded net profits of about 0.93 billion yuan, 1.5 billion yuan, and 1.79 billion yuan, respectively.
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