Regulatory Approval Granted for Green Bio's IPO on ChiNext

The China Securities Regulatory Commission (CSRC) has issued its approval for the initial public offering registration of Green Bio Technology Co., Ltd.

The company plans to list on the Shenzhen Stock Exchange's ChiNext board. Changjiang Securities is acting as the sponsor for the offering, which aims to raise 690 million yuan.

According to its prospectus, Green Bio is a pioneer and a well-known enterprise in China's fragrance and flavor industry. Since its establishment, the company has focused on the research and development, production, and sales of fragrance products. It has developed three main product series based on turpentine, cedarwood oil, and full synthesis. These include nearly 40 specific products such as the sandalwood series, methyl cedryl ketone, and the damascone series.

The company's products are primarily used as raw materials for formulating daily chemical fragrances, widely applied in areas like detergents, cleaning products, disinfectants, and personal care items, indicating substantial downstream market demand.

After over two decades of development, Green Bio has established core competencies in the R&D and production of high-quality fragrance products. It is one of the few Chinese fragrance companies that has mastered the production technology for damascones and achieved industrialization. The company is also one of China's largest suppliers of methyl cedryl ketone and a significant supplier of sandalwood products.

Green Bio was among the first Chinese fragrance companies to enter the international market. It serves as the global lead registrant for five products—methyl cedryl ketone, cedryl acetate, dimethyl heptanol, dihydrocoumarin, and cedrol—under the REACH regulation. The company has successfully integrated into the global supply chains of internationally renowned fragrance and flavor corporations and consumer goods companies, including Givaudan, DSM-Firmenich, International Flavors & Fragrances (IFF), Symrise, and Procter & Gamble, maintaining long-term and stable cooperative relationships with them.